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EPC Newsletter
Issue 4 - October 2009

EPC Latest News

Creating smart SEPA SolutionsNew EPC Publication: SEPA for IT Providers

30.10.09 BY Meral Ruesing

INTRODUCTION AND SUMMARY

(This brochure was replaced by new material. Please visit the EPC Website page 'SEPA Customers'). Re-engineering payment processes based on innovative end-to-end solutions will generate substantial efficiency gains, reduce costs and drive forward the trend towards standardisation, automation and centralisation. SEPA schemes and standards are an integral part of such solutions. Technology providers, e.g. software vendors, processors, system integrators and consulting firms should support the development of new cost efficient products and services that will facilitate rapid and low risk migration to SEPA for banks and their customers such as businesses and public administrations. The new EPC publication "SEPA for IT Providers" pinpoints the IT requirements of banks and their customers as regards SEPA implementation. In addition, find here the link to additional updated EPC material providing easy access to SEPA for consumers, businesses and public administrations, among others.

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SEPA for IT Providers

The SEPA roll-out forces suppliers as well as users of payment services to re-consider strategies: decisions need to be made whether to refrain from any action unless compliance requirements dictate otherwise; whether to outsource all or selected payment processes and / or whether to invest in upgrading existing payment architectures. Alternatively, SEPA could be viewed as just one element of a broad strategy designed to dematerialise business processes beyond payments, e.g. to migrate from paper-based and manual procedures towards electronic information exchange within and between organisations acting as buyers and sellers.

In either scenario, the impact on internal processes, IT platforms and delivery channels needs to be assessed. Banks and their customers will have to either modify existing or develop new IT platforms and delivery channels. Many will use the SEPA development to replace ageing infrastructures and to refresh systems. Operating models will need to be redefined to realise increased efficiency, improved control and a maximum of consolidation based on the implementation of the new SEPA payment instruments and standards

IT providers and consulting firms can significantly contribute to managing the SEPA process at the level of individual banks, companies and public administrations by providing the support to identify the appropriate strategy and to implement subsequent changes. At the same time, smart solutions offered by the IT community will accelerate innovation and strengthen the business case for new payment products and services delivered as part of SEPA.

The EPC publication "SEPA for IT Providers" pinpoints the IT tools required by banks and their customers engaged in the process of SEPA implementation. A link to this publication is set out below.

Updated EPC material providing easy access to SEPA for customers

The EPC has made available a variety of publications dedicated to the information needs of SEPA customers such as consumers, businesses and public administrations and other interested parties. This material includes, among others, the comprehensive brochure "Making SEPA a Reality - the definitive Guide to the Single Euro Payments Area" as well as the EPC Shortcut Series featuring key SEPA concepts in a 2-page-flyer format. Updated editions of these publications released in September 2009 are now available for download on the EPC web site (see link below).

Related Links:

EPC publications dedicated to the SEPA information needs of consumers, businesses and public administrations and other interested parties can be found following this link:

http://www.europeanpaymentscouncil.eu/content.cfm?page=bank_customers

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