The STEP2 system of EBA CLEARING is a Pan-European Automated Clearing House (PE-ACH) for retail payments in Euros.
The European Central Bank (ECB) has identified STEP2 as one of the “Systemically Important Payments Systems” (SIPS).
EBA CLEARING offers its customers to use multiple options to connect via EBICS, SIA, and SWIFT.
As of June 2014, EBA CLEARING offers an Intraday Switch to allow financial institutions to connect to two out of the three networks simultaneously.
Using the multi-network architecture of BOX, customers can connect to STEP2 via both SIA and SWIFT simultaneously. This support is ‘out of the box’ and guarantees complete redundancy of the networking infrastructure. Additionally, higher bandwidth can be achieved for peak traffic periods.