CMS Austria has advised Oesterreichische Nationalbank on the Felix Austria project, which seeks to modernize the processing of bulk payment transactions in Austria.
According to CMS, “OeNB, together with a large number of other Austrian banking groups, has reorganized the market infrastructure for account-to-account transfers in Austria.” According to the firm, OeNB, working with Payment Services Austria, has worked on the project for a year and a half. “PSA is Austria’s leading player for effecting cashless payment transactions for Austrian banks. Following the Felix Austria project, it will assume, as of 2021, responsibility as a shared services platform for Austrian banks regarding the operational clearing business for the processing of bulk payment transactions from OeNB and its affiliate Geldservice Austria.”
CMS’s team included Partners Alexander Rakosi, Stefan Paulmayer, Dieter Zandler, Clemens Grossmayer, Sibylle Novak, Andrea Potz, Robert Keisler, and Egon Engin-Deniz, Counsel Hans Lederer, Attorneys Florian Mayer, Marlene Wimmer-Nistelberger, and Johannes Scharf, Associates Linda Marterer, Vanessa Horacek, Andreas Lichtenberger, Martin Rainer, and Matthias Emich, and Legal Assistants Alexandros Hantasch and Mark Timar.