EBA Clearing, a private provider of Euro clearing services, announced that four Italian payment banks and a first bank from Luxembourg have gone live with the company’s cross-European eAuthorization solution, My Bank.
These banks participation is the beginning of many, as another 18 financial institutions in Europe will soon join the MyBank solution on July 29 this year. After all banks have joined, there will be a total of 51 MyBank members. These new additions means that MyBank will have expanded its services to over 10 million retail customers in just ten months after launching the solution.
MyBank allows members to make payments online or with a mobile banking interface without the need to provide personal bank details to third parties. By 2014, MyBank will allow customers to create, modify and cancel eMandates for SEPA Core Direct Debits.