About CEC
CEC (Centre For Exchange And Clearing) is the central point for channelling retail payment transactions between the banks issuing the payment instructions and the banks receiving the payments. More specifically, CEC handles the traffic of retail payments between private persons, businesses and public authorities.
Our mission
CEC’s mission is to ensure that interbank payment transactions are as efficient as possible, all while taking into account effective risk management and guaranteeing our members and their customers an efficient, reliable and resilient payment system.
We closely follow the evolutions in the payments world and support our members as good as we can to keep track of all relevant changes and to stay compliant with all applicable regulations. To that end, we closely work together with our partner STET.
Next to facilitating the interbank clearing, CEC also wants to support its members with the exchange of information amongst themselves and with different external institutions in a secured and efficient way.
Our history
50 Years of exchange and clearing services
CEC (Centre For Exchange And Clearing) was created in 1974 by the National Bank of Belgium and 67 financial institutions with the aim to automate the interbank payments.
Throughout the years, the system evolved from the use of facsimiles/cartridges/tapes/ floppy disks to a purely electronic exchange system, processing credit transfers, direct debits, cheques and cards. When SEPA was created , the members of the Belgian community decided in 2012 to move to a European payment platform, developed and managed by STET, the French Clearing House, one of the largest clearing and settlement systems in Europe.
Well suited for today's needs
CEC outsources the operational and technical processing of information flows and payments to STET. In addition to the SEPA Credit Transfer (SCT) and the SEPA Direct Debit (SDD Core and B2B), STET also handles card transactions and cheques.
CORE, STET’s multi-CSM platform, operates in compliancy with the SEPA rules and uses highly efficient technologies and procedures. Since this platform provides individual governance for each affiliated community, the CEC benefits from the economic advantage of large common volumes, without losing autonomy. STET is still our trusted partner today. The contract was renewed in 2023 for another 5 years until 2029.
In 2017, a second business line was started: the Transfin Services covering a.o. the Bankswitching services. These activities are not subject to the oversight of the National Bank of Belgium and are managed on a different platform, operated by Centran.
Centran is a Belgian IT Service provider, established in 2005. The first contract with Centran was signed by Febelfin. When Febelfin decided in 2017 to transfer its IT-activities to CEC, Centran became the partner of CEC. Centran develops and manages the services CEC offers on SFRS (Secure Financial Routing System) platform on behalf of CEC.