Zurich, 27th April 2021 – Societe Generale is breaking new ground in the Swiss market by being the first bank to offer its corporate clients the possibility of making instant payments in euros.
This solution allows Societe Generale’s corporate clients to send and receive instant payments 24/7 in euro in the SEPA zone, credited to the beneficiary’s account 10 seconds after they are issued.
Instant payment offers many advantages for companies, administrations and individuals with concrete applications. For example, a customer can receive a product or service in exchange for an instant payment, thus reducing the delivery time and the risk of late payment for the supplier. The company can also contribute to a better satisfaction of its employees or providers with a faster payment of expense reports or account balances for occasional providers.
In addition to Switzerland, the service is also being rolled out in six new European countries: Germany, Italy, Belgium, the United Kingdom, Spain and the Netherlands.
Instant payment is one of the new technologies in which Societe Generale is investing heavily in order to offer its clients cash management services that meet their needs for flexibility, scalability and speed of execution.
Valérie Zerlini, Head of Global Transaction Banking for Societe Generale in Switzerland, comments: “Societe Generale is the first bank to enable its corporate clients to make instant incoming and outgoing payments on their euro accounts in Switzerland. The launch of instant payments across Europe, including in Switzerland, demonstrates that Societe Generale is at the forefront of this unprecedented change in the payment services industry. This solution brings real added value to companies that have commercial relations within Europe.”
Societe Generale’s Global Transaction Banking provides corporate clients with an integrated range of services designed to facilitate business transactions with value-added banking solutions, particularly in the areas of payments and liquidity management, international trade finance and factoring.
Established in Switzerland since 1897, Societe Generale has developed in the country a vast range of integrated services and tailored solutions in corporate and investment banking, private banking, asset management, securities services, global transaction & payment services, equipment financing (Societe Generale Equipment Finance) and vehicle fleet management (ALD Automotive).
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Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
- French Retail Banking which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
- Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index. For more information, you can follow us on Twitter @societegenerale or visit our website www.societegenerale.com