TBI Bank becomes the first bank to partner with Bank of Lithuania for the launch of SEPA Instant

29.01.2020    Share +

TBI Bank becomes the first bank to partner with Bank of Lithuania for the launch of SEPA Instant

TBI Bank becomes the first bank in Southeast Europe to launch SEPA Instant, a real time payments scheme. The service is offered via Bank of Lithuania and provides customers with the opportunity to send and receive up to 15 000 EUR within seconds inside the European Union and EU Economic area – and that 24/7.

Initially the solution, part of TBI Bank’s Banking-as-a-Service (BaaS) strategy, will be available for business partners, starting with 4Finance, one of Europe’s largest digital consumer lending groups, operating in 13 countries. However, TBI Bank’s retail customers benefit as well: Incoming transfers to TBI Bank current accounts from all European banks that have already implemented SEPA Instant will be received in seconds, irrespective of the hour and the day of the week.

“TBI Bank’s team is excited to be trusted as Bank of Lithuania’s first foreign partner for the implementation of the SEPA Instant scheme. This is a move of major importance for us – it proves that our investments in cutting-edge digital solutions are beneficial for our business partners and customers. Our clients will have a déjà vu: for them the new service will remind them of the switch from dial-up internet to broadband”, says Petr Baron, CEO of TBIF (TBI Bank).

Being the first foreign bank to partner with Bank of Lithuania for launching the innovative service is a major strategic step for TBI Bank becoming a next gen digital lender and is a result of committed and hard teamwork. SEPA Instant will complement TBI Bank’s award-winning Payment Hub – a BaaS-solution currently offering euro transactions to 4finance customers and allowing them to receive the approved loans in real time.

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