Bankingblocks teams up with EastNets

Bankingblocks teams up with EastNets | Articles

19 February 2019 by Nadine Lucas

[19/02/2019] – Bankingblocks teams up with EastNets, showcasing SWIFT and SEPA modular banking blocks for faster cross-border payments.

During the Merchant Payments Ecosystem Conference (MPE) in Berlin (19-21 February 2019),
Bankingblocks and EastNets, a leading global provider of compliance, payment and cloud solutions for the financial services industry, will showcase modular banking blocks for SEPA and SWIFT payments using EastNets PaymentSafe and SafeWatch filtering solutions to make SEPA and SWIFT payments fast, cost-effective, seamless and compliant with AMLD4 regulations.

MPE provides Bankingblocks and EastNets with a global platform to jointly discuss how its cutting-edge solutions can help fintech, payment providers and corporations deploy rapidly and seamlessly into a full SEPA-SWIFT workflow, which is compliant with the 4thAML directive, that has been in effect in 28 EU countries since June 2017.

SEPA Instant

Next, to SEPA Direct Debit and Credit Transfer, they provide fintech and payment companies with help to process their cross-border payments. In November of 2017, the European Payment Council launched a new SEPA Instant scheme with the ambition to radically transform the customer and merchant payment experience, performing P2P, P2B and B2B payments in less than 10 seconds across the European Union. SEPA Instant is now operational within 14 European countries with more than 1000 connected banks and PSPs. It is also the first instant payments scheme to become interoperable in a region as large as Europe, counting 34 countries with great demand from Merchant, Corporate and Personal users.

A scheme of such magnitude poses both technological and performance-related challenges for users. Moreover, SEPA Instant will raise new real-time operational challenges for the compliance teams, and merchants and PSPs will need to ensure full compliance with the 4thAML Directive, as well as address the risk challenges of real-time screening against AML/CTF sanction lists.

The instant availability of transferred funds, the expected high transaction volumes, and the uninterrupted 24/7/365 operation really show entirely new requirements for the processing systems of merchants and corporates.

Cutting-edge technology

EastNets’ cutting-edge technology for SWIFT and SEPA payments and compliance, allows Bankingblocks to offer modular banking services (“blocks”) with SWIFT and SEPA payments, controlled risk and AMLD4 compliance for fintech and payment companies

Hazem Mulhim, CEO, EastNets: “We believe that our cooptation with Bankingblocks adds great value to FinTechs, payment providers and corporations and allows them to deploy rapidly and seamlessly into a full SEPA-SWIFT workflow, which is compliant with the 4thAML directive.  MPE 2019 is an ideal opportunity for us to highlight the key features of EastNets PaymentSafe and SafeWatch Filtering solutions integrated with Bankingblocks modular banking and payment blocks.”

Daria Rippingale, CEO, Bankingblocks, added: “Additionally, we look forward to exchanging ideas with fintech and payment companies. Not only about the essentials of operating in SWIFT and SEPA payments, but also to help them tackle critical strategic questions that merchants must address if they want to prosper in a fast-evolving business environment.”


EastNets® is a leading global provider of compliance and payments solutions for the Financial Services industry. Over the past 30 years EastNets has built distinctive expertise to develop and implement standardized payment solutions and individual solutions against financial crime, and for risk management, monitoring, analysis, reporting, and state-of-the-art consultancy and customer support. Over 1000 customers including some of the largest international financial institutions rely on EastNets solutions and professional services, and over 300 corporate and financial institution rely on EastNets for SWIFT connectivity and compliance solution made available as a service through its fully managed service bureaus.