Financial technology firm Sentenial has recently signed deals with seven companies in different countries across Europe. This brings its total new business signings for the year to over €8m.
The new contract wins follow a surge in demand for Sentenial's payment technology services in advance of the switch to the Single Euro Payments Area (SEPA) next February.
SEPA will provide a common payment processing system across the European Union, enabling cross-border payments to be completed as easily as domestic transfers.
This will reduce costs and complexity for all bank account users.
Sentinel recently agreed a deal with French utility giant Suez, while it also secured contracts with Dutch energy firm Essent and oil company Argos Energy. It also signed deals with two Belgian firms, IT company Econocom and leasing firm Parfip
Back home, Sentenial recently secured Laya Healthcare as a customer, while it also signed up Cork-based consumer financing group First Citizen Finance.
"As well as large corporate customers, we have also experienced a rush of over 200 SMEs in Ireland and across Europe signing up to our services. Firms are waking up to the reality of the SEPA change over deadline, and the serious implications it has for ensuring their payment systems don't grind to a halt on 1st February 2014," commented the company's chief executive Sean Fitzgerald.
When the switchover to SEPA is made next year, Sentenial's technology will be responsible for processing over €60 billion worth of payments a year for companies and banks across Europe.
Last month Sentenial announced plans to add 110 staff before the end of 2014 to its current headcount of 160 employees.
