Anne Coghlan, head of group treasury at Dyson, discusses how her organisation is redirecting attention towards complying with the single euro payments area as the industry prepares for the 2014 end dates.
We are seeing real momentum building up in the market as corporates start to wake up to the implications of non-compliance with SEPA. Multi-nationals are generally well on track with their compliance programmes and are in a position to look at the potential
for strategic business benefits for and after February 2014. The much bigger challenge for the industry is with other corporate segments, such as SMEs, where it is clear that not everyone will be compliant in time: 1/3 of all businesses have not started to
Many corporates assume that their banks will fix the problem. However many banks simply do not have the capacity in terms of consultants, on-boarding resources and scalable solutions to service them. Instead, companies should look at strategies that will
de-risk their SEPA programmes, such as using a service provider, to buy themselves additional time.
© Finextra Research 2014