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History

Sistema 4B, S.A. was created in 1974 by three Spanish banks: Banco Central, Hispano Americano, Banco Español de Crédito and Banco Santander. Its purpose was to provide means of payment services via a high-tech computer-processing platform, linked to electronic funds transfer.

Since its inception, the initiative has been joined by other European financial institutions as new members.

As a result of this, together with the mergers and acquisitions that took place in the Spanish banking sector in the nineteen-nineties, and in particular among Sistema 4B's founder banks, the list of members comprising the current 4B System has changed substantially over the years.   

From its foundation up until July 2008 Sistema 4B acted as the regulator and guarantor of the interchange system both within the network and with other networks, and was also responsible for transaction processing. A role which entailed operating uninterruptedly, 24-hours a day 365 days a year, maintaining direct connections with the banking networks in its environment, obtaining the electronic interconnections required, both at the national level, and internationally with other means of payment organisations around the world.

In July 2008, in view of the requirements established by the framework for means of payment supervision within the SEPA environment, Sistema 4B split its activities so as to separate the system's regulation and financial guarantees from its transactional processing.

As a result of this split, a new company called Redes y Procesos, S.A. was created, which is dedicated to the preferential processing of means of payment interchange for member banks of Sistema 4B.

History
 

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