19 July 2018
Elizabeth Lumley
Elizabeth Lumley

Elizabeth Lumley

Elizabeth Lumley - Girl, Disrupted

165Posts 712,865Views 173Comments

The Sepa Poll - Are you happy or 'not bothered'?

14 September 2010  |  3650 views  |  1

I, for one, like to keep our treasured Finextra Community on their toes. So in the run-up to Sibos, I am running a Sepa Poll.

I hear from many in the industry that Sepa is really only a priority at banks because of the regulatory mandate, and in fact, that mandate is not really enforced all that rigorously.

What do you think? Are you eagerly awaiting an announcement of a Sepa end date, or are you really 'not bothered'? Is/was Sepa innovative, or is what the industry plans to do with Sepa where the real innovation lies.

Take my Sepa mini-Poll now.

(BTW - this isn't sponsored by any vendor, just a random survey of our Community members. However, I will send a one-of-a-kind, Finextra piggy bank to one randomly selected participant! - we had a few left over)


Come on, you know you want one... TagsPayments

Comments: (2)

John Dring
John Dring - Intel Network Services - Swindon 16 September, 2010, 11:57


I did your poll, but since I don't work for a Bank or a Regulatory body, it seemed to be completely irrelevant to me. 

For me, I like the concept of SEPA, and your blog made me check on the actual status at least, but it seems like its stuck in treacle?  Often happens in the finance industry because everyone is so nervous about their skin in the game and cut.

For me, I just want to know if 'my chosen bank' or payment processor can offer cross border payments facilities, and to what extent (if any) will I be covered for any due taxation, auditing, laundering etc.  Does SEPA legislate for these things. Basically, if I receive a SEPA payment, can I actually trust it is real and will I be liable to any additional fees.

When I say 'I', I mean a company or service I might be working for that needs SEPA payments.  I can't remember the last time I personally had to do a cross border e-payment, and I assume my Bank can handle it today (with charges) anyway - so SEPA adds little change or functionality to me personally.

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Elizabeth Lumley
Elizabeth Lumley - Girl, Disrupted - Crayford 16 September, 2010, 12:05

"...so SEPA adds little change or functionality to me personally."

I think you've hit the nail on the head there. Why would banks pile resources into Sepa, if does little to improve the services to you, the client.

Therefore, the only incentive banks seem to have is a mandate from their central bank - and the central banks are just shrugging.

Is Sepa a political exercise or a payments innovation exercise?

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job title Global FinTech Commentator
location Crayford
member since 2009
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Global FinTech commentator. Author of the Girl, Disrupted blog

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Member since 2007
165 posts173 comments

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