Studiengesellschaft für Zusammenarbeit im Zahlungsverkehr GmbH Stiftgasse 15-17/8, A-1070 Wien Phone: +43/1/505 32 80-0, Fax: +43/1/505 32 80-77 E-Mail: office@stuzza.at, Internet: www.stuzza.at

HISTORY  STUZZA was established in the autumn of 1991 as a joint venture company of the Austrian banks (see: shareholders). The objective is the reduction of the costs of payment transfers in Austria through the increased application of automation whilst at the same time improving the services for the customer. At STUZZA technical and organisational standards are developed as well as jointly agreed rules for their implementation by the banks, independent of their differing business targets. The results are achieved with the help of project groups in which employees of the banks as well as autonomous experts participate. The project targets were defined by the members of the board of management and the managers of the banks responsible for payments transfer. The chosen organisational form is lean and is subject to corresponding result, deadline and cost control. The most important achievements of the past: Standard application of scanning technology in order to eliminate the transport of documentation between the banks. The average transfer period for payment orders requiring documentation could thus be reduced by 1.4 days. Introduction of a standard for electronic banking for companies which all Austrian banks support. The customers can since then serve all their bank relationships with one interface (MBS). Implementation for the international EDIFACT standards for electronic payment transfer data in Austria. Planning and coordination of the Austrian conversion from the schilling to the euro both for non-cash payments (beginning of 1999) as well as for cash payments (beginning of 2002).