Allevo created an open source application that processes transactions achieves conversion from proprietary or existing formats to the ISO 20022 pain 001 format. The GPL v3 distribution model allows banks to offer this white label solution to their corporate customers, without any dependence on the vendor who initially created it, Allevo.
Raiffeisen Bank Romania has successfully implemented Allevo’s open source solution for corporate SEPA compliance. EU 260/2012 Regulation affects not only banks, but corporates as well.