Skandinaviska Enskilda Banken AB (SEB Group), a North-European financial group, will process its SEPA Direct Debit transactions with Equens, one of Europe's payment processors.

SEB is one of Northern Europe's financial groups that have affiliates in eleven European countries. The foothold gained in Sweden is a next step in the continued expansion of Equens' position throughout Europe. Equens is already processing payments in eight European countries. The parties signed the agreement last Friday.

Edwin Echl, Global Head of Payments Operations at the SEB Group commented "Equens has a strong presence in the European market. This, combined with its pan-European market coverage, were our main reasons for choosing them. Outsourcing the processing of SDD payments is one of the first steps in our strategy to centralise the payment services of the entire SEB group."