What SEPAmail does

SEPAmail.eu (legal entity SEPAmail.eu SAS, registered in Nanterre, France, headquartered at La Défense, Paris) operates a secure interbank messaging platform built on an open XML-based architecture that connects banks, payment service providers (PSPs), corporates, and individuals across the SEPA zone. Founded in 2013, the company has developed four applications on a single messaging layer: AIGUE-MARINE (automated bank account switching for regulatory mobility), DIAMOND and DIAMOND 2 (IBAN Name Check and Verification of Payee for fraud prevention), and RUBIS (dematerialized invoice payment). The proprietary QXBAN alias standard provides IBAN and PAN protection within payment and monetary circuits, and the platform is the designated French Routing and Verification Mechanism (RVM).

The company generates revenue through three streams: recurring PSP/bank membership and adherence fees (multi-year contracts), per-message interbank transaction fees (22 million AIGUE-MARINE messages were exchanged in the first year alone, with over 10 million additional flows to direct debit and standing order emitters), and pay-per-use KYC services delivered via StreamMind's LUCY product, which relies on DIAMOND. SEPAmail.eu serves 300+ member banks, with the six founding French banking groups (BNP Paribas, BPCE, Crédit Agricole, Crédit Mutuel, CIC, La Banque Postale, Société Générale) representing more than 90% of French private and business accounts at the time of DIAMOND's deployment. As of DIAMOND 2's October 9, 2025 launch, 157 member banks delivered an 82% success rate on day one, rising to 98%, meeting European Instant Payment Regulation VoP requirements without impact on SCT or SCT Inst transfer volumes.

Since January 23, 2024, SEPAmail.eu has operated as a wholly-owned subsidiary of STET, a Systemically Important Payment System (SIPS) operator that processes over 30 billion transactions annually and is Europe's largest payment exchange and settlement platform. The integration with STET extends SEPAmail's distribution reach and processing capacity, while the company has pursued cross-border interoperability through partnerships with CBI (Italy), SurePay (Netherlands), and Swift (covering Spain, Germany, and broader Eurozone VoP routing). Geographically the platform now spans France, Italy, the Netherlands, Spain, and Germany. The company is led by Jacques Vanhautère (Directeur Général / CEO) and reports a headcount in the 1-10 range, with operational scale historically concentrated in scheme governance, member onboarding, and message-routing oversight rather than direct transaction processing.

Name

SEPAmail

Legal name

SEPAmail.eu

Website

https://sepamail.eu

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

SEPAmail.eu is a French secure interbank messaging platform serving banks and payment service providers across the SEPA zone, offering applications for account mobility (AIGUE-MARINE), IBAN Verification of Payee (DIAMOND, DIAMOND 2), and electronic bill payment (RUBIS).

Ownership category

akta.pro rank

Product category

Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Interbank messaging
• Payment verification
• Verification of Payee
• SEPA payment infrastructure
• Bank account switching

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Membership / Adherence Fees: PSP members and banks pay adherence/membership fees to join the SEPAmail scheme and access its applications. The company maintains lists of adherent PSPs across AIGUE-MARINE, DIAMOND, and DIAMOND 2 applications.
2. Interbank Messaging Transaction Fees: Revenue is generated through transaction fees on interbank messages exchanged across the SEPAmail network. The volume of messages processed (22 million+ AIGUE-MARINE messages in year one alone; 10 million+ flows to emitters) reflects significant transaction-based revenue potential.
3. Usage-based KYC Services (via StreamMind LUCY): StreamMind's LUCY KYC service, which relies on SEPAmail DIAMOND for IBAN and identity verification, operates on a pay-per-use pricing model accessible to enterprises of all sizes.

Pricing tiers

Go-to-market motion2 records

Core offering

SEPAmail.eu operates a secure interbank messaging network on an open XML-based architecture, used by Payment Service Providers (PSPs) and banks across the SEPA zone. On top of the messaging layer the company sells several applications: AIGUE-MARINE for automated bank account switching under French mobility regulation, DIAMOND and DIAMOND 2 for IBAN Name Check / Verification of Payee (fraud prevention, with DIAMOND 2 specifically built for European Instant Payment Regulation compliance), and RUBIS for dematerialized electronic bill payment via SEPA credit transfer.

Product overview

SEPAmail is a secure interbank messaging platform with open architecture that hosts multiple applications. The core platform enables message transactions between banks, with three main applications: DIAMOND/DIAMOND 2 (IBAN Name Check/Verification of Payee for fraud prevention), AIGUE-MARINE (regulatory bank account switching), and RUBIS (dematerialized invoice payment). DIAMOND 2 was developed specifically to comply with the European Instant Payment Regulation's VoP requirements. The company operates as part of STET Group, combining its messaging capabilities with STET's payment processing infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• SEPAmail DIAMOND: IBAN verification and Verification of Payee (VoP) application for secure bank account details checking
• SEPAmail DIAMOND 2
• SEPAmail AIGUE-MARINE
• SEPAmail RUBIS

Products and services

• SEPAmail Messaging Platform A secure interbank messaging service with open architecture enabling standardized message transactions between corporates, individuals, banks and PSPs across France and Europe. Hosts multiple applications on a single XML-based messaging layer.
• SEPAmail AIGUE-MARINE Bank account switching application enabling individuals to transfer their current account to a different bank or PSP with automated transfer of direct debit and standing order information, fully compliant with French regulatory banking mobility (Macron/Hamon laws).
• SEPAmail DIAMOND IBAN Name Check application that verifies bank account coordinates by matching IBAN codes with beneficiary names, preventing fraud and payment errors before credit transfers are processed. Available to enterprises and individuals through member banks.
• SEPAmail DIAMOND 2 Enhanced IBAN Name Check / Verification of Payee (VoP) application compliant with the European Instant Payment Regulation, enabling real-time beneficiary verification for SEPA Credit Transfer and Instant Payments across 157+ member banks.
• SEPAmail RUBIS Electronic bill payment application enabling secure, paperless invoice settlement via SEPA credit transfer directly from the payer's secured banking space, replacing cheques, TIP, cash, and card payments for invoice settlement.

Quantifiable outcome

• AIGUE-MARINE achieved 99%+ quality of service within its first year (2017-2018), with over 1.2 million mobility dossiers processed and 22 million messages exchanged.
• +2 more outcomes

Named customers7 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature6 records

Partnerships

Five partnerships are on record, tiered core, major and supporting.

• SwiftcoreTechnology or Integration · 18 December 2024SEPAmail.eu and European banks completed the first successful end-to-end intra-European Verification of Payee (VoP) test using Swift's Payment Pre-validation service. Banks in Spain and Germany tested VoP requests to beneficiary accounts held with SEPAmail DIAMOND members in France. Swift acts as an 'interoperability hub' between European VoP providers, extending SEPAmail's reach across the Single European Payment Area and beyond.
• CBI (Italy)coreTechnology or Integration · 9 October 2024SEPAmail.eu and CBI (Italy) signed an agreement to establish an interoperable IBAN Name Check / Verification of Payee (VoP) solution. This enables Italian and French PSP communities to verify beneficiary IBANs in cross-border transactions, enhancing security for SEPA Credit Transfers and Instant Payments. The partnership extends VoP reach across Europe ahead of the October 2025 regulatory deadline. CBI serves 450+ financial institutions and PSPs in Italy.
• SurePaymajorTechnology or Integration · 16 December 2021SEPAmail.eu and SurePay partnered to launch the first cross-border IBAN verification and Confirmation of Payee service between France and the Netherlands, bridged by StreamMind. This partnership enables real-time IBAN validation for cross-border payments, marking an important step toward pan-European fraud prevention.
• StreamMindcoreStrategic or Co-development Partner · 6 December 2018StreamMind is the historical software provider for the SEPAmail interbank infrastructure and the sole Referenced Provider for the SEPAmail DIAMOND application. StreamMind developed LUCY, the first instant KYC service for enterprises, which relies on SEPAmail DIAMOND for cross-verification of bank account and personal identity data. StreamMind's technology has been embedded in the SEPAmail network since its inception and extends SEPAmail services to enterprise end-users.
• Smart Training Centre (STC)supportingChannel Partner/ Reseller/ Distributor · 12 November 2018Smart Training Centre (STC) is the only SEPAmail.eu-recognized training organization, mandated to deliver certified training courses on SEPAmail messaging and its applications (AIGUE-MARINE, DIAMOND, RUBIS). STC's training content and instructors are validated by SEPAmail.eu. Sessions are compact (1-2 days), cover functional, technical, and operational aspects, and conclude with a certification exam.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• European Payments Initiative (EPI): EPI is a pan-European payment scheme backed by major European banks developing a unified card and instant payment solution. While primarily focused on cards and P2P, EPI's planned verification and fraud-prevention features will compete with SEPAmail's broader payment infrastructure.
• Token: Token is a European open banking payments and account verification provider. Its payee verification and instant payment initiation services overlap with SEPAmail's DIAMOND offering, particularly in the UK and other SEPA markets.
• Tink (Visa): Tink, now owned by Visa, provides open banking connectivity and account verification services across Europe. Its Account Check and Payee Verification products compete directly with SEPAmail DIAMOND for fraud-prevention and onboarding use cases.
• Plaid: Plaid is a global financial data network that provides bank account verification, authentication, and balance checks via open banking APIs. While primarily US-led, Plaid's European expansion brings it into adjacent competition with SEPAmail's KYC and verification applications.

Broad incumbents

• Swift: Swift is the global interbank messaging cooperative whose Payment Pre-validation service acts as the interoperability hub connecting SEPAmail, SurePay, and national schemes. It is both a critical integration partner and a broader incumbent in cross-border payment messaging.
• STET: STET is SEPAmail.eu's parent company and Europe's largest payment exchange and settlement platform, processing >30 billion transactions annually. Following the 2024 acquisition, STET is both operator and broader infrastructure incumbent that bundles SEPAmail's verification layer with its core processing rails.
• EquensWorldline (Worldline): Worldline (formerly EquensWorldline) is a major European payment processor offering SEPA processing, fraud prevention, and account verification services to banks and PSPs. It is a broader incumbent whose portfolio overlaps with SEPAmail's payment verification and processing capabilities.

Direct peers

• CBI (Customer to Business Interaction): CBI is the Italian interbank network serving 450+ financial institutions and PSPs. It partnered with SEPAmail.eu in October 2024 to deliver interoperable IBAN-Name Check / VoP across French and Italian banking communities, making it a national-scheme peer with comparable functionality.
• SurePay: SurePay is the Dutch-based pioneer of Confirmation of Payee / IBAN-Name Check services and the most direct competitor to SEPAmail's DIAMOND / DIAMOND 2. The two are already interconnected via StreamMind for cross-border verification between France and the Netherlands, making them functional peers in the European VoP ecosystem.

Regional players

• StreamMind: StreamMind is the historical software provider for SEPAmail's interbank infrastructure and the sole Referenced Provider for SEPAmail DIAMOND. Its LUCY KYC service is built directly on SEPAmail DIAMOND for IBAN and identity verification, making it a tightly coupled technology peer and channel partner.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/sepamaileu
• LinkedInlinkedin.com/company/sepamail.eu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SEPAmail