Single Euro Payments Area (SEPA)
The SEPA end date is fast approaching.
International Bank Account Numbers (IBANs) paired with Bank Identification Codes (BICs) will soon become the standard for all domestic and cross-border payments across the Euro zone.
Is the SEPA end date an obstacle or an opportunity?
There are many complex logistics that need to be addressed: BBANs need to be converted to IBANs, mandates need to be revisited, ISO 20022 message formats need to be met.
Banks and corporates who have the right set of solutions to address SEPA compliance can reduce costs and increase margins.
The article "Is the SEPA End Date an Obstacle or an Opportunity?" examines some of the challenges of the upcoming end date - including the cost of inefficiency - as well as the benefits of becoming SEPA-compliant.
The article also details '15 steps to becoming SEPA compliant in 2013'.
Download this SEPA article