Get more out of your Oracle

The Single European Payments Area (SEPA) is an initiative to unify electronic payments in Euros across the countries that use the Euro as national payment currency and to ensure that they are as simple as domestic payments. It will ensure that cross border or domestic payments will benefit from the same basic conditions and rights regardless of where they are within the SEPA countries. As from 28 January 2008 it is possible (in theory) to deliver SEPA-payments to the bank in special SEPA payment formats. End of 2010 banks do not need to support the old payment formats (for domestic- and foreign-payments) like ClieOp03, DTAUS, BACS, ETEBAC etc.. anymore.

Companies will be forced to deliver their payments in the new, SEPA supporting, payment formats. When a company switches to making SEPA payments (and in the near future also SEPA direct debits) it needs BIC-codes and IBAN-numbers for all the bank account numbers that are present in Oracle Financials. Most companies enter the BIC and IBAN when new suppliers are entered but this information will not be present for suppliers (and customers) that are already in Oracle Applications before they started with entering the BIC-codes and IBAN-numbers.

Adding BIC-numbers to existing bank information and adding IBAN-numbers to existing bank account information can be a difficult and time consuming task. When for example 10.000 bank accounts need to be changed so that these can be used in a SEPA payment run, manually adding and validating the missing information can take weeks if not months.    With the APRO Banking Gateway BIC-IBAN module for SEPA, a company can add the missing information in one or two days depending on the quality of the bank account information already present in Oracle E-Business Suite.

The BIC-IBAN module uses the SWIFT BIC-IBAN directory to retrieve BIC-numbers based on National Identifiers and it uses the same SWIFT BIC-IBAN directory to retrieve National Identifiers based on BIC-numbers. Per country the build in IBAN-algorithms are used to calculate the correct IBAN-number based on the National Identifier, bank account number and/or BIC. If necessary the module can also automatically add bank branches in Oracle E-Business Suite so that also for countries like Belgium and The Netherlands, where bank accounts are mostly entered using just one bank branch, the correct BIC-numbers and IBAN-numbers can be used.     For more information contact:

The countries for which the BIC-IBAN module can be used are stated in the table below.