SEPA MIGRATION
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SEPA MIGRATION
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EBA Clearing responds to corporate need for extended remittance information - Finextra

EBA Clearing responds to corporate need for extended remittance information - Finextra | SEPA MIGRATION | Scoop.it
EBA Clearing responds to corporate need for extended remittance information
Finextra
EBA Clearing is preparing to support additional remittance information in Sepa messages processed by its pan-European retail payment system STEP2.
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SEPA saves billions for banks and businesses

SEPA saves billions for banks and businesses | SEPA MIGRATION | Scoop.it
In light of the postponement of the SEPA deadline and the required amendments to the systems, the costs of SEPA have been an important focus lately. However, a recent report written by PwC’s Corporate Treasury Services offers an alternative.
François Lemaire's insight:

An analysis of SEPA leverage effects. They are numerous for businesses : payment flow centralization, reduced number of bank accounts, foreign exchange control, large scale automatic accounting reconciliation, cross border collection, extra-SEPA payment factory facilitated,...

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The SEPA migration speeds up

The SEPA migration speeds up | SEPA MIGRATION | Scoop.it
While we are approaching the original SEPA deadline of February 1st, the transition is speeding up rapidly. At the end of December 2013, 74 per cent of credit transfers in the euro area were already SEPA-compliant, in November that was 64 per cent.
François Lemaire's insight:

The last 5% being always the hardest to finish, 6 months delay should be welcomed for those who are just giving a start!

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SEPA Technical Requirements: A Guide for Finance

SEPA Technical Requirements: A Guide for Finance | SEPA MIGRATION | Scoop.it
Finance teams that understand what SEPA compliance entails can leverage the euro-centric initiative to improve efficiency worldwide.
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ISO 20022 is coming – look busy | Latest Thinking Blog - Experian

ISO 20022 is coming – look busy | Latest Thinking Blog - Experian | SEPA MIGRATION | Scoop.it
ISO 20022 is coming – look busy. Posted by Dominic Eaves under Identity and Fraud · Tweet. Jonathan Williams our Director of Strategic Development, discusses ISO20022 and the rapidly looming SEPA end date on Finextra ...
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‘Awareness does not necessarily mean preparedness’

‘Awareness does not necessarily mean preparedness’ | SEPA MIGRATION | Scoop.it
In an article on GTNews.com, a website for news on global treasury and finance, Javier Santamaría, chairman of the European Payments Council, wrote that organisations should avoid bottlenecks and get ready for SEPA now.
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SEPA in the international media: a round up

SEPA in the international media: a round up | SEPA MIGRATION | Scoop.it
François Lemaire's insight:

Very clear update. Gap between SCT and SDD adoption rates still questioning.

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single-euro-payments-area-sepa Crédit Agricole CIB

single-euro-payments-area-sepa  Crédit Agricole CIB | SEPA MIGRATION | Scoop.it
Crédit Agricole CIB et le Groupe Crédit Agricole ont été les premiers à mettre en ouvre le projet SEPA (Single Euro Payments Area) afin de faire profiter leurs principaux clients des avantages significatifs qui en découleront.
François Lemaire's insight:

Including an up-to-date list of SCT and SDD reachable banks

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Belgium's ambition to be the payments capital of Europe

Belgium's ambition to be the payments capital of Europe | SEPA MIGRATION | Scoop.it
By being a frontrunner in SEPA, we want to attract organisations to centralise their cash management in Belgium.” On a scale of 1 to 5, how would you rate the implementation pace in Belgium (1 = worrying, 2 = slow but we will get there, 3 = could...
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François Lemaire's curator insight, June 1, 2013 4:19 AM

"Most small and medium sized companies in Belgium tend to rely on their Enterprise Resource Planning (ERP) software providers to facilitate the migration." 

On the bank side, aligning all electronic channels to SEPA intreface has still to be achieved.

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ECB SEPA MIGRATION REPORT - March 2013

ECB SEPA MIGRATION REPORT - March 2013 | SEPA MIGRATION | Scoop.it
François Lemaire's insight:

N.B. Question about art. 16-5 waiver have been rephrased (but no concrete impact) :


"Is there a waiver until 1 Feb. 2016 for use of the ISO 20022 XML format for individual credit transfers or direct debits that are bundled together for transmission?"

 

Full ECB report download:

http://www.ecb.int/pub/pdf/other/sepamigrationreport201303en.pdf?8510ba2a46e2263a4035c9f23dd1a2a3

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Is SEPA Becoming a Game of Two Halves?

LONDON, May 15, 2013 /PRNewswire/ --AccessPay CEO Ali Moiyed Presents his Views on State of SEPA MigrationAs the...
François Lemaire's insight:

"Realistically, there simply aren't enough banking consultants to go around and for many corporates - even relatively large ones, the risk of failing to comply with SEPA regulations is becoming only too real."

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SEPA Customer File Formats | Irish Payment Services Organisation Limited (IPSO)

SEPA Customer File Formats | Irish Payment Services Organisation Limited (IPSO) | SEPA MIGRATION | Scoop.it
IPSO - Operating, Developing and Promoting Payments in Ireland
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François Lemaire's curator insight, May 10, 2013 4:54 PM

Ireland also migrates to SEPA in 2014 (no waiver for XML ISO 20022 in customer-to-bank space).

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Single payment area: priceless - Financial Director

Single payment area: priceless - Financial Director | SEPA MIGRATION | Scoop.it
Financial Director Single payment area: priceless Financial Director From 1 February 2014, national payment products denominated in euros will be replaced by the SEPA Credit Transfer and SEPA Direct Debit (see box: Payment schemes) in most EU...
François Lemaire's insight:

Still time to benefit from SEPA leverages though

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Passage au Sepa : une opération bouclée en huit mois

Passage au Sepa : une opération bouclée en huit mois | SEPA MIGRATION | Scoop.it
Le groupe de distribution Printemps a intégré très vite la nouvelle norme de virement. Mais Lionel Jouve, son responsable de la trésorerie et...
François Lemaire's insight:

« le Sepa n’est pas une finalité en soi, mais un commencement ».

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5 SEPA Scams to be Aware - SEPA for Corporates

SEPA Scams: SEPA information guide, news and views to help Corporates with their SEPA implementation leading up to February 2014 and beyond.
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Interview: BofA Merrill's CIO Bill Pappas outlines his model bank - Bobsguide (press release)

Interview: BofA Merrill's CIO Bill Pappas outlines his model bank - Bobsguide (press release) | SEPA MIGRATION | Scoop.it
Interview: BofA Merrill's CIO Bill Pappas outlines his model bank Bobsguide (press release) This new payment engine is compliant with the single euro payments area (SEPA) standards for direct debits (SDDs) and credit transfers (SCTs) and can handle...
François Lemaire's insight:

"adherence to the SEPA payment standards for the new payments engine is just one aspect of a much wider tech overhaul" : SEPA as leverage for ISO 20022 adoption can be seen in BAML rollout project.

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ISO 20022 is coming – look busy | Latest Thinking Blog - Experian

ISO 20022 is coming – look busy | Latest Thinking Blog - Experian | SEPA MIGRATION | Scoop.it
ISO 20022 is coming – look busy. Posted by Dominic Eaves under Identity and Fraud · Tweet. Jonathan Williams our Director of Strategic Development, discusses ISO20022 and the rapidly looming SEPA end date on Finextra ...
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MULTI VENDOR ATM SOFTWARE | ISO 20022 – a collection of texts found in the web

François Lemaire's insight:

Interesting quotes about how ISO 20022 is used worldwide.

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ISO 20022 – A Hero for Our Times » Banking Technology

François Lemaire's insight:

"There is sometimes a perception that ISO 20022 means SEPA and vice versa. Certainly SEPA is playing a large part in driving the uptake, with both the SEPA direct debit and SEPA credit transfer being based upon it. But it is certainly not just payments (...)"

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SEPA: the long and winding road »

François Lemaire's insight:

ELV not to be replaced by SEPA DD schem... even in 2016?

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14th May – European Council conclusions on SEPA

14th May – European Council conclusions on SEPA | SEPA MIGRATION | Scoop.it
François Lemaire's insight:

The Council "WELCOMES the successful entering into force of Regulation (EU) No 260/2012 on 31 March 2012 which sets an end-date for migration from national credit transfer and direct debit schemes to harmonized SEPA credit transfer (SCT) and SEPA direct debit (SDD) schemes by 1 February 2014 for payments in euro in euro area Member States; and CONFIRMS that this is a significant step towards a truly integrated market for retail payments in euro."

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Corporate treasuries are in danger of losing the Sepa momentum

Corporate treasuries are in danger of losing the Sepa momentum | SEPA MIGRATION | Scoop.it
Anne Coghlan, head of group treasury at Dyson, discusses how her organisation is redirecting attention towards complying with the single euro payments area as the industry prepares for the 2014 end dates.
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“XML V2 V3” : What are they talking about?

“XML V2 V3” : What are they talking about? | SEPA MIGRATION | Scoop.it

Many banks are currently offering version 2 and version 3, but this may also depend from the electronic channel used to transmit the XML files. Looking at the customer ERP end (initiating the payment files), flexibility might be more an issue and depend of the software versions installed. 

François Lemaire's insight:

It's the same story for the cash management department when speaking to the manager of the ERP systems, and when contacting the banks to kick-off the SEPA credit transfer implementation. The conversation may suddenly become more technical, and one of the questions left "for the next meeting " is the following: "Are you using XML in version 2 or in version 3? "

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National Bank of Belgium Big Billers BNB April 2013

François Lemaire's insight:

SDD migration : the course remains unchanged.

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