SEPA - are you ready?
European Network for cross-border payments active as of 28. January 2008
SEPA is the largest payments initiative ever undertaken within Europe. A successful implementation requires commitment of all involved parties, including users of payment services and supportive public authorities. It will also require the completion of the proposed Payment Services Directive, which is intended to provide a harmonised legal environment.
The first milestone was reached on 28. January 2008 with the first early adopters - completion is planned for 2010. In the meantime SEPA will operate alongside existing national processes.
European banks and their software providers are now challenged to put in place their strategy and planning for SEPA participation. The most commonly used method to participate in SEPA is to use SWIFT FileAct and exchange SEPA formatted files with the central national clearing organisation.
AnaSys has assisted their German customers to successfully partake in SEPA and has gathered great in-the-field experience doing this - going well beyond simple transport and connectivity issues.
The AnaSys Service Bureau can provide complete outsourcing solutions for SEPA, which free up the banks to concentrate on fitting SEPA inside their organisation without worrying about setting up complex infra-structures.