SEPA Migration Fails to Satisfy SIBOS Delegates

A survey by ACI Worldwide at SIBOS 2008 has found that 78% of those delegates questioned either ‘strongly agreed’ or ‘agreed’ that the migration to SEPA instruments has been disappointing to date. Moreover, 46% of respondents feel there is nothing more that the banking industry’s self regulation of SEPA can deliver and they overwhelmingly believe that the time is right for SWIFT to play a role in reversing the present situation. 75% 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, while 77% 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.

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