What does SEDA mean in Banking?
This page is about the meanings of the acronym/abbreviation/shorthand SEDA in the Business field in general and in the Banking terminology in particular.
SEPA-compliant Electronic Database Alignment
One of the pre-requisites for the full SEPA migration in Italy is a pre-notification of the mandate as well as mandate amendments and cancellations to the debtor bank prior to the first direct debit collection as it already exists in the legacy system called EDA. Therefore, Italian banks and the Italian Banking Association (ABI) have elaborated SEDA - registered with the EPC as an AOS - so as to maintain the service levels for corporates post-SEPA migration. SEDA stands for SEPA-compliant Electronic Database Alignment. The purpose of SEDA is to exchange, process and route mandate related information between two financial institutions according to the business rules specified by ABI.
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"SEDA." Abbreviations.com. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.abbreviations.com/term/1772737>.
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