SEPA will survive even if the Euro doesn’t according to banking industry
- Strong drive from community for faster payments
- Differences of opinion between Bankers and Corporates increase
- Increase in the numbers expecting SEPA to succeed with end dates set
A new survey of the banking industry unsurprisingly shows with the Sovereign debt issues still raging across Europe nearly 70% of respondents believe that the Euro will not survive in its current form, however overall sentiment with regards to the Euro and Single Euro Payments Area (SEPA) was still more positive. Interestingly the views around the impact of the Payment Services Directive (PSD) are less clear, with the majority not seeing much impact yet.
The fourth State of the European Payments Marketplace survey, with over 350 participants from 53 countries, shows an increasing expectation of success for SEPA. The largest payments survey of its kind, conducted by the Financial Services Club and sponsored by Euro Banking Association and Logica also highlights the growth in real time payments across the board.
“In 2011, Europe’s markets were even more challengedby the Eurozone’s issues but, surprisingly, the progress of the PSD and SEPA were seen as positive,” says Chris Skinner CEO at the FS Club. “This year we have also continued our analysis of the relationship between banks and their corporate clients, which highlights some interesting differences”.
Simon Bailey, Director Payments & Transaction Banking Logica commented, “SEPA provides significant benefits including increased visibility of cash along with a reduction in risk. However, SEPA also means more competition for the banks with pressure on their payment revenues; they need to seek ways to provide enhanced services to corporate clients and createa more positive banking experience for their customers.”
The survey also reviews issues around liquidity risks, where 86% of bankers were in agreement that pressures on balance sheets for banks and corporates as well as new regulations, are driving increased activity around liquidity with a new technology helping the drive to real-time liquidity management.
Full results of the survey and further discussion around the impact will be through a webinar, hosted by Logica and the FS Club, on 22 May at 3pm BST/ 4pm CEST/10am EDT. To register, please visit: http://digbig.com/5bgayr.
Research Background
The survey was conducted between during between March and April 2012, and was completed by over 350 participants across 53 countries. Almost a third of respondents participating in this year’s survey were from banks. Consultants and technology providers are the next largest groups, also representing over a third of the votes.
About the Financial Services Club
The Financial Services Club is a unique service aimed at senior executives and decision makers from banks, insurance companies, technology firms, consultancies ... in fact, any firm that is interested in understanding and planning for the future operating environment for the financial services markets.
Based in London, with groups in the UK, Ireland, Central and Eastern Europe, the club meets fifty times per year and the blue chip speaker list is designed to incorporate all aspects of the industry, from practitioners, to legislators and futurists.
For further information, please visit – http://fsclub.co.uk and for keeping track of the Club’s activities, subscribe to our blog at http://thefinanser.com
About Logica
Logica is a business and technology service company, employing 41,000 people. It provides business consulting, systems integration and outsourcing to clients around the world, including many of Europe's largest businesses. Logica creates value for clients by successfully integrating people, business and technology. It is committed to long term collaboration, applying insight to create innovative answers to clients’ business needs.
Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG; Euronext: LOG).
More information is available at www.logica.com.
Press contact:
Nicole Angerone-McLeod
MetiaforLogica
Tel: +44 (0)20 3100 3560
Email: nicole.angerone-mcleod@metia.com
Logica
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