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SEPA 2.0: Philosophy Meets Payments in Europe

Published by: TowerGroup

Published: Jan. 21, 2008 - 5 Pages


Table of Contents


Report Coverage

Background

The State of Banks Today

Exhibit 1 Development of the Single Euro Payments Area (SEPA) (2000-10)

Exhibit 2 Stages in the Transtheoretical Model for the Single Euro Payments Area (SEPA)

SEPA 2.0: A Look into the Future

Summary

Abstract

The European payments industry is in an unprecedented period of change. The vision of a Single Euro Payments Area (SEPA) and the initiatives to deliver it will affect nearly every part of the European payments business. Banks have been working to meet the deadlines, but the deadlines pose some challenges. A growing concern in the industry is that some banks will not be able to comply in time. Few European banks seem to have considered what happens once they become SEPA compliant. Even fewer know what they want from SEPA. All banks must have a strategy, whether it is one they develop on their own or one that regulators impose on them. This ViewPoint suggests some possibilities.

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