Half a year after the introduction of the single euro payments area (SEPA), companies have been slow to adopt the new processes and formats. This was the finding of a survey undertaken by Dresdner Kleinwort in May 2008 among companies with a turnover of €50m or more. Only around 4% of companies said they had adopted SEPA and the new processes for both their incoming and outgoing payments. Most companies – around two-thirds – are not yet using SEPA at all. It is mostly those companies with a global reach or whose activities are mainly domestic, with less than 10,000 payment transactions per year or a turnover of under €100m that are taking longer to make the transition. They believe the costs are not justified by the gains. Only slightly over 20% of companies were considering implementing the new formats and processes within the next six months. Half were only planning to adopt SEPA when this becomes a legal requirement. Despite this, over two thirds of businesses recognised in principle the long-term advantages a single payments area offers. In the case of those actively using SEPA that figure stood at 85%.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more