Press Releases

SEPA survey: Banks Still Not Prepared Enough for the SEPA Migration

Contact
Robert Akam or Joe Eldridge 020 7400 4480 or email rakam@hanovercomms.com or jeldridge@hanovercomms.com
Banks feel the restrictions imposed by the EU Commission as a transition period is too short. High activity on the sourcing market for payment services is expected.

European banks are still not sufficiently prepared to fully migrate to the SEPA credit transfers and direct debits. This emerges from a study by management consultancy Capco, a leading global provider of consulting and transformation services to the financial services industry. In relation to the expected establishment of a binding conversion date by the EU Commission is threatening many banks the time to run away.

About Capco
Capco, a global business and technology consultancy dedicated solely to the financial services industry. Our professionals combine innovative thinking with our unrivalled first-hand industry knowledge to offer our clients consulting expertise, complex technology and package integration, and managed services to move their organisations forward.

Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. We specialise in banking; capital markets; wealth and investment management; finance, risk & compliance; and technology. We serve our clients from offices in leading financial centres across North America, Europe, Asia and Africa. To learn more, visit our web site at capco.com and subscribe to Capco's newsroom RSS feed.