The key findings from the survey include:
â¢ 78 percent of respondents who expressed an opinion believe that the migration to SEPA instruments has been disappointing to date
â¢ 75 percent of respondents believe that there is now a role for SWIFT to play in extending bank-to-bank collaboration to provide the SEPA business solutions required by the market
â¢ 77 percent of respondents believe that if SWIFT allows greater access to its network for corporates, it can assist in the take-up of SEPA and the adoption of end-to-end standards
Paul Styles, business solutions manager at ACI Worldwide, commented on the findings, âSEPA started as a framework to benefit corporates and consumers but has morphed into an interbank framework that has been moulded primarily by the banks. Itâs not surprising therefore that SEPA migration has been considered disappointing to date. However, we agree with the majority of Sibos delegates that as an âexternalâ body, SWIFT could help to make SEPA a more attractive proposition for corporates. SWIFT could have an important role to play in helping the banking industry formulate a business case for corporatesâ SEPA migration. Such an approach would also help avoid the âmini-SEPAâ dreaded by the regulators, where significant regional or country-specific variations exist.â
The survey targeted 104 Sibos 2008 delegates, representing financial institutions, corporates and vendors.