Latest SEPA Articles

SEPA in Germany: Mission Accomplished

Edith Rigler, gtnews Freelance Consultant | 22 August

“Die SEPA Umstellung wurde in Deutschland zum 1. August 2014 abgeschlossen”. With this short, simple statement the German Central Bank (Deutsche Bundesbank) announced that the single euro payments area (SEPA) had been implemented in Germany on 1 August 2014. Yet it hardly does justice to the complexity, breadth and scope of SEPA - a process the European central Bank (ECB) has rightly called “one of the largest financial integration projects in the world”.

SEPA: Mission Accomplished or Work in Progress?

Joanna Wright, Fundtech | 21 August

Having insisted that the 1 February 2014 deadline for corporates to complete migration to the single euro payments area (SEPA) was non-negotiable, at the eleventh hour the European Commission agreed to a six-month extension and moved the date back to 1 August. The concession was granted as it became clear that many electronic payments in Europe would otherwise fail.

The SEPA Initiative: Time’s up! Or is this Just the Beginning?

Michael Burtscher , Credorax | 21 August

The single euro payments area (SEPA) initiative set forth with the aim of simplifying bank transfers in euros between 33 countries. Unfortunately, soon after its launch the project became mired in confusion and was unclear as to how it would be carried through at a national level. There was an evident lack of preparedness for SEPA’s mandated legislation that included direct debit and data management. It also quickly became clear that a majority of organisations would be unable to meet the original 1 February 2014 deadline.

Interview: Emerging Stronger from Tough Times at Aleris

Ellen Cornelissen , Aleris | 8 August

Ellen Cornelissen has been director of treasury, Europe, at Aleris - one of the world's major processors of aluminium - since 2009 and is also a member of the gtnews editorial board. In this wide-ranging interview with gtnews, she recounts how the company survived and ultimately emerged stronger from the glbal financial crisis of 2008-09 and the prospects for Alerirs now that the economic background appears to be brightening.

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