22 October 2017
visit www.response.ncr.com

Majority of companies yet to put Sepa compliance plans into action

13 December 2012  |  1567 views  |  0 Source: EuroFinance

More than half (52%) of corporates in the Sepa zone have not yet started their Sepa project, and almost a quarter of these have not even started to investigate the issue.

These are the results of a recent survey by EuroFinance, the leading global provider of cash management, treasury and risk conferences, training and research. The survey was sponsored by Deutsche Bank.

The results also revealed a lot of uncertainty about what is required for payments to be SEPA compliant by the February 2014 deadline. 31% of treasury and finance professionals inside the SEPA zone state that they do not know exactly what will be required.

"February 2014 is worryingly close," says Katharine Morton, Director of Programming at EuroFinance. "It's interesting to see how few companies even inside the Eurozone have got their SEPA compliance plans actually in action, and of those, how many are simply going for the basics." She adds: "It's understandable, though. Companies have also told us that they are still concerned that the dates may slip again and that they could have challenges getting buy-in from IT departments."

"These findings come as no surprise to us as they echo our interactions" says Andrew Reid, Head of Trade & Cash Solutions EMEA at Deutsche Bank. "In our experience, clients fall into two categories: those who are actively looking to maximise the benefits of SEPA, and those who have yet to finalise migration plans despite the looming deadline. For this latter - and sizeable - community, the clock is ticking louder than ever, and they must really act now, if they are to reach SEPA compliance at a minimum without incurring undue cost and complexity." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comRegister nowvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14172 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
12872 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9727 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9533 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8736 views comments | 9 tweets | 18 linkedin

Featured job

circa £250K total package
London

Find your next job