It is unlikely that a critical mass of SEPA payment instruments will be achieved by the end of 2011, unless regulators provide incentives to mobilise European public administrations and corporations to adopt the new SEPA instruments. This is a key finding of the World Payments Report 2007, published by Capgemini, ABN AMRO, and the European Financial Management & Marketing Association (EFMA). The report, now in its third year, considers world payments trends, with a particular emphasis on developments towards SEPA in Europe. “Reaching a critical mass of SEPA credit transfers and direct debits quickly is key to keeping payment costs down and managing the revenue impact of SEPA and of the Payment Services Directive,” commented Bertrand Lavayssière, Capgemini’s managing director of global financial services. “For banks, slow adoption translates into increased costs as a result of maintaining both legacy and new payments services.” The report suggests that, to stay competitive in the new payments landscape, banks will need to reassess their operating models in Europe, and may choose one of three strategies – niche player, low cost producer or industry leader – and it goes on to suggest that many banks will need to outsource at least part of their payments activities.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.