With the Sepa migration deadline now just a year away, Europe's businesses still have a long way to go, with only 30% of credit transfers and two per cent of direct debits compliant, according to Experian.
Its a real worry that this research shows that SEPA is still not getting anywhere fast. We need a league table of banks ready and corporates at the starting rope. Could also do with some performence data of banks and corporates. Lets make it all visible
If I understand this article correctly, only businesses - not banks - are lagging behind on SEPA implementation. This matches my experience with a Top 5 UK bank that went live with SCT on the first deadline in Jan. 2008 after barely 3-4 of months of work
despite having a large and complex payments landscape. Maybe this migration is far more complex and time-consuming for businesses. In which case, they might try to justify their laggard status by raising basic questions around its business case.
© Finextra Research 2015