published today by Capgemini. ABN AMRO and the European Financial Management & Marketing Association (EFMA). The inform now in its third year considers world payments trends with a particular emphasis on developments towards a hit Euro Payments Area in Europe.
The public sector could contribute 29% of the required volumes to arrive critical crowd for the new SEPA ascribe transfers and direct debits and if corporate payments volumes for these instruments were added then critical mass of SEPA transactions could be reached or even exceeded by 2010 says the report.
 “Many domestically-focused corporations are reluctant to bring home the bacon towards SEPA implementation arguing that it should be the responsibility of banks and regulators to fulfil their business requirements. Regulatory as well as business incentives are therefore vital to draw these parties to act.” said Patrick Desmares. Secretary command of EFMA.
The inform’s authors analysed SEPA implementation and migration plans published earlier in 2007 for the 13 current eurozone countries and open that none expects to achieve a critical mass of SEPA payments before the agreed deadline in just over three years. Some countries would change surface desire to bear legacy payments as long as demand exists. Â
“Reaching a critical crowd of SEPA credit transfers and enjoin debits quickly is key to keeping payments costs drink and managing the revenue impact of SEPA and of the Payment Services Directive,” commented Bertrand Lavayssière. Capgemini’s Managing Director of Global Financial Services. “For banks decrease adoption translates into increased costs as a result of maintaining both legacy and new payments services.” Â
Report analysis and interviews conducted with major European banks for the 2007 inform affirm measure year’s findings: that banks will see direct payments revenues decline by between 38% and 62% in some parts of the market by 2012. Â
The report suggests that to be competitive in the new payments adorn banks ordain be to appraise their operating models in Europe and may choose one of three strategies –niche player low be producer or industry leader – and it goes on to suggest that many banks ordain be to source at least part of their payments activities.
“Strategic sourcing partnerships – including outsourcing offshoring and white-labelling - ordain compete an increasingly important role as the payments industry focuses on globalisation regulation and performance,” said Ann Cairns. CEO. Transaction Banking. ABN AMRO.  “The inform shows that Europe’s banks have a small window of opportunity in which to merge their payments lay.”
The World Payments Report 2007 reveals that 58% of banks already intend to or are outsourcing all or part of their payments activities in the next five years. Sixty-eight percent plan to offshore this activity as well.
The hit Euro Payments Area (SEPA) project aims to act a domestic payments market across the eurozone. SEPA payments services should be made available to customers from January 2008 and critical mass should be achieved by 2010. The overarching goal of SEPA as formulated by the European Commission is to create a more competitive and transparent euro payments area. The assumption is that the Single Euro Payments Area will acquire consumers and corporations alike. The eurozone countries are those that undergo adopted the euro as their national currency. The 13 countries that are in the eurozone and surveyed for this inform are: Austria. Belgium. Finland. France. Germany. Greece. Italy. Ireland. Luxembourg. The Netherlands. Portugal. Slovenia and Spain. Four non-eurozone countries - Denmark. Poland. Sweden and the UK – are also included in the survey data for the report.
Capgemini is positioned with deep industry experience enhanced service offerings and next generation global delivery to serve the financial services industry. With a network of 15,000 professionals serving over 900 clients worldwide we act businesses send with leading solutions and beat practices in Banking. Insurance. Capital Markets and Investments.
As one of the world’s foremost providers of Consulting. Technology and Outsourcing services. Capgemini enables its clients to alter and act through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to bring home the bacon superior results through a unique way of working called the Collaborative Business undergo. Capgemini reported 2006 global revenues of EUR 7.7 billion and employs more than 80,000 populate worldwide.
Netherlands-based ABN AMRO is a leading international tip with total assets of EUR 1,120.1 billion (as at 30 June 2007). It has more than 4,500 branches in 53 countries and has a cater of more than 107,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and on the New York Stock transfer.
ABN AMRO Transaction Banking delivers change trade and supply arrange and card products and services to corporations and businesses financial institutions retail customers and private clients globally. These services are available in some 3,000 locations in some 50 countries. Underpinning this extensive global communicate is integrated technology supporting billions of payment trade and card transactions every year. Global scale a commitment to continuing product and function innovation and an in-depth understanding of local and global markets are key components of our furnish.
The European financial management and marketing association (Efma) is the leading association of banks insurance companies and financial institutions throughout Europe. On a non-for-profit basis. Efma promotes innovation and beat practices in sell finance by fostering debate and discussion among peers supported by a robust arrange of information services and numerous opportunities for direct encounters.
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