Payment Account Directive for Bank Agents

On the 18th of September 2016, the European Union introduced a new legislation enforcing banks to provide a free account-switching solution to customers. To address the issues arising from the new legislation, finreach solutions has developed a fully compliant electronic workflow that minimizes the effort imposed on the service center of banks.

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A lean and easy to use PAD solution without any integration cost or license fee

Our highly efficient PAD compliant solution, decreasing your back office efforts and cost by 60%,
 while increasing the overall amount of current account switches by 30%.

What is in it for you?

Features of PAD compliant Account Switching Kit

- Data processing and sorting
- Transmission of 13 months transaction history
- Transfer of all direct debits and standing orders
- Monitoring of legal deadlines
- Forwarding of balance and closing of a bank account
- Transparent and comprehensive monthly reporting

Benefits for banks offering the finreach solutions PAD service

- Increase the number of overall switches by +30%
- Reduce back office effort and cost by -60%

We dont stop here.

It's important that bank employees have an easy time using our solutions. We provide additional PAD training for both client-facing usage as well as back-office usage.

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Excited? Contact us now!