Portugal in the age of EBICS

portugese euro

Foto: © Hugh O’Neill – fotolia.com

Just like the French banks in 2009 and the German banks in 2008, numerous Portuguese banks have decided to use the EBICS protocol for their exchange of financial flows with companies.

Two principal reasons have motivated this change:

1. The planned cessation of network X25 by Portugal Telecom from 30th June 2014,

2. The inability of certain protocols, utilised until now, to transfer files comprising records of varying sizes, as is the case with SEPA formats.

The Portuguese banks therefore had to suggest to their client companies a substitute exchange channel which was accessible, secure, inexpensive and operated across borders. Continue reading

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