Email Contact Phone Company Visit Website

Global Headquarters Office Head Office

Head office 1350 René-Lévesque Boulevard West 15th floor Montreal, Quebec H3G 1T4 Canada Tel: +1 514-841-3200 Fax: +1 514-841-3299 Logica is now part of CGI.

Australia Office

5th Floor 76 Berry St
North Sydney

Belgium Office

Woluwedal 106



Daniel Finlketaub
[email protected]
Back to all CGI announcements

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 the European Banking Association and Logica also highlights the growth in real time payments across the board.

“In 2011, Europe’s markets were even more challenged by 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 create a 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.