04 March 2015

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Retired Member

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EBAday

EBAday is the annual event for European payments professionals run by Finextra in conjunction with the Euro Banking Association. This community has been created to deliver a forum for EBA delegates to exchange views on Sepa and new developments in payments processing.
A post relating to this item from Finextra:

European Central Bank calls for 'urgent' action on Sepa

24 November 2008  |  10319 views  |  1
The European Central Bank has called for an overhaul of governance and management of the European Payments Council in its latest report on impediments to the creation of a Single Euro Payments Area (S...

Why doesn't anybody love me?

24 November 2008  |  5129 views  |  0

"In it's sixth Sepa progress report, the ECB welcomes the effort made so far, but stresses that work 'urgently remains to be done' to ensure the success of the Europe-wide project."

You don't say?  Is anyone surprised?  Talk about stating the obvious...

With banks being bailed out and IT budgets across the board slashed beyond recognition, why would anybody expect financial institutions to pull out all the stops and invest in a scheme that does them no good whatsoever. How exactly is SEPA going to help their bottom line?

Not surprisingly, many banks seem to be grudgingly doing the minimum required to meet the requirements of the Payments Service Directive (PSD).  A few who are pressured by their corporate customers might do a little more, but it's early days yet - there's still almost a year to go until PSD, so why rush with IT development!?

They hardly going to go the whole hog and put cold cash into ensuring the project's success, now are they?

Rant over...

TagsPaymentsRetail banking

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