2009 Top 10 Business Drivers, Strategic Responses, and IT Initiatives in European Payments

Published by: TowerGroup

Published: Nov. 17, 2008 - 18 Pages

Table of Contents

Report Coverage

The Top 10

Exhibit 1

Exhibit 2

BUSINESS DRIVERS FOR EUROPEAN PAYMENTS

Recent Trends and TowerGroup Predictions

Summary

Abstract

Regulation, specifically the Single Euro Payments Area (SEPA) mandate and the Payment Services Directive (PSD), continues to be the key driver in European payments.

The continued turmoil in global financial markets not only makes achievement of the SEPA vision difficult but is making many ponder the vision itself, at least for the short term. In the current financial climate, banks need to understand their customers better than ever to maintain market position.

Technology responses to SEPA and other regulation must be strategic to make the enforced IT expenditure an opportunity for competitive differentiation, not just a compliance issue.

IT spending is likely to be under budgetary constraints at least until the middle of 2009, and so instead of the usual silo approach, acting holistically across all payment networks is critical.

Approaches to delivering solutions not previously considered, such as outsourcing or managed services, may now become more attractive.

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