Origix Corporate,Origix IP, Origix EM, Nuapay Sentenial
Overview
Set up in 2003 as a direct debit systems specialist, Ireland-based Sentenial initially sold its solutions into the corporate sector. It has evolved into a specialist provider of SEPA payment solutions for banks as well as corporates across Europe. The privately-owned company has sales and support offices in the UK, Belgium, France, Germany and the Netherlands. A Spanish office was opened in 2010 following the localisation of the Origix and EuroDebit product suites for this market, but the office has since disappeared from the vendor’s contact listings.
Corporate overview
Sentenial founder and CEO, Sean Fitzgerald, came from a corporate background and had looked at solutions for an area that, unlike others such as credit cards, ‘remained in the Neanderthal era’, he said. By 2006, there were more than 300 originator deployments of the vendor’s EuroDebit Direct Debit Manager in Ireland, the UK and US. This number was up to 500 by 2009, with Germany as a newer geography. This corporate solution is provided on a service bureau basis for companies that have originator permission from their banks. Customers, according to Brian Hanrahan, EVP of sales and product management, range from SMEs to multinationals such as Nokia. In most cases, this is on a Software-as-a-Service (SaaS) basis, with Sentenial offering outsource services for corporate messaging and domestic direct debits. About 60 per cent of Sentenial’s revenue from corporates
comes from the UK. Sentenial also now targets banks and ACHs. The company’s offerings for financial institutions originally
comprised EuroDebit Enterprise Origination
Manager (EuroDebit EOM) and EuroDebit Debtor Account Manager (EuroDebit DAM), for originators and receiving institutions respectively. Its focus on banks gained momentum from around 2006, when it partnered with Tieto to offer a SEPA-compliant solution to banks. Historically, many banking institutions tended to operate direct debits through bespoke legacy systems. However, SEPA now meant that all financial
Summary history 2003
2006 2009
2013 2014 2015
Sentenial established.
Tieto partnership established and increased banking focus leads to its first banking customer. Launch of SEPA R2R and Origix.
2011 The European Parliament finally announces a deadline for SEPA Direct Debits, of February 2014; Barclays signs late in the year for a hosted SDD service for its corporate customers based on Origix. Sentenial recruits a number of partners as the SEPA deadline looms. January – The EU bows to the inevitable and extends the deadline for SEPA Sentenial launches Nuapay.
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www.ibsintelligence.com 257
institutions had to be able to accept a direct debit mandate for their customers from a company anywhere within the EU and then process, clear and settle the transaction in one day, with a 60 day deadline for disputes. Tieto approached Sentenial, said Fitzgerald, and the software would be offered within Tieto’s product set. In February 2009, Sentenial also brought out SEPA R2R
(Ready to Receive), aimed at helping smaller banks to prepare for SEPA. This was a smaller application for banks that were looking to take an ‘iterative approach to SEPA, focused on the must-do elements of SEPA only’, according to Hanrahan. 2009 also witnessed the launch of Origix, an origination front-end for banks to provide to their customers. There was an interesting appointment in September
2011, when Charlie McCreevy, who served as the European commissioner for the internal market and services from 2004 to 2010, joined the board of Sentenial. McCreevy was pivotal to the development of SEPA while working for the commission. In 2015, Sentenial launched a service called Nuapay
that offers businesses a non-bank alternative for payment processing, following legislation introduced by the European Commission that allows non-banks to obtain a Payment Institution licence. Sentenial
has retired its products EuroDebit DAM,
EuroDebit EOM and SEPA R2R. This is part of their strategic move away from on premise installed software. All Sentenial solutions are now SaaS / Cloud native.
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