10 Reasons Why SEPA is like Sitting High School Exams

I’ve been thinking recently about how SEPA, and come to think of it most multi-country corporate projects, are a bit like sitting a high school exam! With the official deadline upon us, most attention will turn to how ready corporates and Small Medium Enterprises (SMEs) are. Here is why I think the SEPA project, or any ...

5 SEPA Scams to be Aware Of 3

For many banks, corporates and SME’s (Small, Medium sized Enterprises) their main SEPA focus right now is to ensure compliance. Of course security, validation and verification is of utmost importance, but in the rush and haste of SEPA compliance, one may drop their guard and it is exactly at this moment that the SEPA scammers may seize their ...

SEPA: IBAN Number & BIC – The Definitive Guide 13

Granted it is a little late in the day to start writing about the IBAN number and BIC code. But there will be many SEPA implementations happening over the coming months, and so with that in mind I felt it was important to have a summary guide outlining what the IBAN number is, how it relates to SEPA, and ...

ECB Stats Show SEPA Migrations Gathering Momentum 3

European Central Bank – EPC SEPA - PRESS RELEASE: Source: http://www.ecb.europa.eu/press/pr/date/2014/html/pr140120.en.html 20 January 2014 – New statistics show SEPA migration gathers pace in December New statistics released today by the European Central Bank (ECB) show that migration to the Single Euro Payments Area (SEPA) gathered pace strongly in December.According to the latest figures provided by national ...

SEPA XML in a Nutshell 19

The intention of this post is to give you an understanding of what XML is, how it relates to SEPA and items to take note of. It will not give you the A-Z of XML, consult your technical resources for that and the EPC website. Lets start with the basics, what is XML? eXtensible Markup ...

SEPA Deadline Delayed – 1st August, 2014 6

Just as we were rolling up our sleeves up, one eye on the 1st February SEPA deadline, the other on multiple SEPA implementations, coupled with a nervousness about overall readiness – the European Commission announces an extension to the SEPA migration deadline to 1st August, 2014. While the EC “stresses that the SEPA migration end date of 1 February ...

What Is In Scope for 1st February, 2014… 3

Right, we’re in the home straight and we need to ensure we’re working on the right things. There is a lot of confusion about what is in scope for 1st February, 2014 and what is waived and/or niche. In this post, I will highlight those processes that will be obsolete post 1st February, 2014. Unless your bank ...

SEPA Deadline – 2 Months and Ticking….. 2

We have just over 2 months to go until the SEPA deadline. You need to take stock of where you’re at with you’re SEPA implementation. Your probably already sending monthly updates to your key stakeholders, with details of successes, failures, risks up to this point. Thats all great. The following approach should take you about ...

5 SEPA Credit Transfer Go Live Checks You Cannot Miss 6

Like many corporates, you’re going live with a / many SEPA Credit Transfer interfaces in the coming weeks or indeed months. Most of the hard work should have been done by now, and you want to double check and validate you’re ready. Following is a list of 5 SEPA Go Live checks you cannot afford to miss: ...

Quick Guide To COR1 SEPA Direct Debits 6

Many legacy direct debit schemes were pretty efficient and allowed creditors to collect according to various business requirements. Some legacy schemes allowed collections to be submitted to the bank / clearing 1 day prior to the collection date. This has now changed under SEPA direct debit CORE processing where the requirement is for collection instructions to ...