Automated payments integration—powered by the Intelligent Data Exchange and SAP Business Technology Platform—will enable companies to send ISO 20022-compliant files from their ERP solutions to SEB.
Stockholm, Sweden, 2022-12-15: Graz Sweden AB, a leading provider of data integration solutions, announced today that it has signed a partnership with SEB. Graz will offer a fully managed payments data integration service to SEB business banking customers, enabling them to rapidly comply with the requirements of the new P27 Nordic Payments Platform.
The P27 transformation will be a complex process, and many businesses may underestimate the scope of the change. In particular, businesses will need to modify their integrations with all banks—and the Graz partnership with SAP and SEB will help companies to achieve exactly that.
In addition to providing options within its own solutions to meet the P27 requirements, SAP has partnered with Graz to offer an alternative way for SAP customers in the Nordics to achieve P27 compliance quickly and cost-effectively. The Graz service is powered by the Intelligent Data Exchange (IDX), delivered via SAP Business Technology Platform (BTP), and hosted on Google Cloud Platform.
With the Graz service, SAP users can continue to generate payment files in the previous format, and send the files and any required supplementary data to Graz. Using the IDX platform, Graz transforms payment files into an ISO 20022-compliant format, enriches them with payments metadata, and sends them to SEB via an automated data integration.
Ida Blom, Partner Manager at SEB, comments: “Through our partnership with Graz, SEB has further expanded its integrator ecosystem, which will facilitate our customers’ journeys to P27 compliance.”
Harald Alpsten, Senior Account Executive, SAP Sweden, says: “Graz is a key FinTech partner for SAP, and we have worked closely with Graz to deploy and scale their new payments integration service. By combining the agility of SAP Business Technology Platform (BTP) with our global financial services partner ecosystem, SAP offers Graz the perfect business environment to get their new service up and running quickly. We are very pleased that innovative services powered by SAP BTP are going to help our customers unlock greater operational efficiency as they transition to P27 payments.”
Jonas Olsson, CEO at Graz Sweden AB, concludes: “P27 will make payments more efficient across the Nordics, and reliable financial data integration is a crucial first step towards that goal. Graz is proud to be working with SAP to help SEB customers reap the benefits of greater harmonization across the Nordic payments landscape.”
To learn more about SEB, visit: sebgroup.com
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About Graz Sweden AB
For more than 20 years, Graz has been at the forefront of solving some of the financial services industry’s most complex data challenges. Headquartered in Stockholm, Sweden, Graz delivers solutions that empower businesses to harness massive volumes of financial data—helping its clients to tackle new regulatory requirements, sharpen their competitive advantage, build next-generation customer services, and more. To learn more about IDX from Graz, visit: graz.se/idx