21 December 2014

Sid Udani

Siddharth Udani - Consulting

9Posts 36,793Views 12Comments

Banking Architecture

A community for discussing the latest happenings in banking IT. Credit Crunch impacting Risk Systems overall, revamp of mortgage backed securities, payment transformations, include business, technology, data and systems architecture capturing IT trends, 'what to dos?' concerning design of systems.

SEPA - Update May 2012

21 May 2012  |  2840 views  |  0

With immense pressure on the last few miles to run to meet the SEPA timelines, current few interesting challenges faced by banks are common but still time and money consuming. Recently, EBA Day had varied but quite interesting perspectives or gossips around Migration Timelines, Finally ACI or S1, MyBank launch, Wallet/Mobile and the favorite Innovation.
Understanding the Jigsaw, with various ECs, how will changes to internal systems affect across:
- Regulation 1781/2006: Payer Information to accompany transfers
- Regulation 260/2012: EU-wide requirements for credit transfers and direct debits in euro including Mandate Management
- Regulation 924/2009: Eliminates the differences in charges for cross-border and national payments in euro
- Payment Service Directive 2007/64: Right on Information, Transparancy and obligation
- Other Directives like 2000/46/E, 2006/48/EC, 2009/44/EC and 2009/110/EC

Apart from understanding the impact and implementing the required changes across business, processes and IT systems, the challenge which lies ahead is having a common interpretation of the regulation 260/2012.
To provide complementary services based on the scheme againstAdditional Optional Services (AOS), how innovative banks can become post complying with above regulations and what new products they can offer.

To realize SEPA for cards, as highlighted by Green Paper on Card, Internet and mobile, we still have a long way ahead.

TagsPayments

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Siddharth

Has HR failed in Banks being root cause of issues?

27 July 2013  |  2557 views  |  0  |  Recommends 1 GroupBanking Architecture

SEPA - Update May 2012

21 May 2012  |  2840 views  |  0  |  Recommends 0 TagsPaymentsGroupBanking Architecture

SIBOS 2011: what do you need?

19 July 2011  |  4088 views  |  1  |  Recommends 0 TagsPaymentsSibosGroupBanking Architecture

Payments - Reduced Costs but did you Increase Revenue?

23 May 2011  |  3686 views  |  1  |  Recommends 0 TagsPaymentsWholesale bankingGroupBanking Architecture

Banks choose technology or solutions?

28 April 2009  |  9188 views  |  1  |  Recommends 0 TagsPaymentsRetail bankingGroupBanking Architecture

Siddharth's profile

job title Client Partner
location London
member since 2008
Summary profile See full profile »
Is a financial services consultant, specialising in payments and revenue management.

Siddharth's expertise

What Siddharth reads
Siddharth writes about

Who is commenting on Siddharth's posts