ABN Amro has signed a five-year contract with Atos Origin for the supply and management of a new financial transaction platform.

With the platform ABN Amro will support transactions via the iDEAL electronic payment standard. The bank will be able to provide payment services via iDEAL that fully meet SEPA requirements for electronic money transfers in Europe. 

Atos subsidiary Atos Worldline will provide a centralised internal system that will allow ABN Amro to process payments "in the new SEPA environment easily via a single account and at lower costs", said the bank.

iDEAL was developed to provide businesses and consumers with greater security during online transactions, so the bank wanted to make its iDEAL payment preference "SEPA-proof".

SEPA - the Single European Payment Area standard - was brought in to create a harmonised European payment zone, to make money transfers less costly and more efficient. 

Fortis Bank Nederland, which merged with ABN Amro, already used Atos Origin to support online payments using the iDEAL security standard.

Last year, ABN Amro renewed an infrastructure services deal with IBM, with the bank aiming to simplify and streamline its technology platforms