Fundtech Ltd. of Jersey City said 25 banking companies have agreed to use its software to meet standards imposed by the Single Euro Payments Area initiative, which is scheduled to go live in January.
The banks are using the software to comply with Sepa's Credit Transfer and Direct Debit standards, Fundtech said last week.
European financial companies are planning to create a continentwide payment system to facilitate cross-border transactions in the region.
Fundtech said that its software also helps users with liquidity management and payment prioritization.
