Read more
Informationen zum Autor CHRIS SKINNER is known worldwide as a leading commentator and strategist on the financial markets. He works full-time as the Chief Executive of the think tank Balatro, as well as being the Chairman of the Financial Services Club and a co-founder of the website Shaping Tomorrow. He writes a regular column in the Banker magazine, and blogs on theFinanSer and Finextra. Chris is a regular key note speaker at the world's largest financial services conferences including SWIFT's SIBOS, BAI, IIR and the Financial Times and the author of several other books published by John Wiley, including "The Future of banking in a globalised world" and "The Future of investing in Europe's markets after MiFID". Klappentext The future of finance after SEPAThe impact of the Single Euro Payments Area (SEPA) and the Payment Services Directive (PSD) upon business and banking in EuropeEdited by Chris SkinnerSEPA was created by Europe's banks in 2002 in response to regulations and plans drawn up by the European Commission from a meeting in Lisbon at the turn of the millennium. Consequently, SEPA has been assisted by new legislation, the PSD, which was agreed in 2007.The implementation of SEPA takes place in 2008 within the banking industry, with full operation in 2010, and will be a massive change to not just banking, but all aspects of finance and financial services across Europe and the globe.This is because the vision for SEPA is that, by 2010, all euro payments are treated in the same way as domestic payments. In other words, European citizens and corporations enjoy a transparent market where there is no difference in charges for payments between Rome, Madrid, Paris and Munich. As a result, citizens, governments and corporations will have full access to finance transparently across 15 countries today and potentially 31 tomorrow. A United States of Europe, fuelled by fully integrated financing, will be different to the fragmented Europe of the past.This book reviews the key implications and challenges of SEPA and the PSD across the European landscape, and the likely outcomes of SEPA for 2010 and beyond.The main themes that emerge are that many of Europe's leading providers of payments infrastructures, which are often bank-owned, will disappear and new payments providers and structures will emerge. Some of these will be evolutions and some will be revolutions. In addition, there will be major impacts upon those banks that cannot provide euro-services competitively in this new geographically competitive environment. The winners will reap major rewards, but there will be far more losers who will be merged or acquired. Zusammenfassung Banks, clearing houses, corporations, companies, technology firms, consultants and academics are all talking about SEPA (the Single Euro Payments Area) and the PSD (Payment Services Directive) For Europe's banks complying to this regulation involves massive change. Inhaltsverzeichnis About the Editor About the Contributors Preface. Acknowledgements. An Introduction to SEPA ( Chris Skinner). PART 1: THE VIEWS OF THE ARCHITECTS. 1. The EPC and the Single Euro Payments Area (SEPA): It's now up to the banks and their customers! ( Gerard Hartsink, the EPC). 2. The economic impact of SEPA on Europe's banks ( Heiko Schmiedel, the European Central Bank). 3. The vision of a Single European Payments Market ( Eva King, the European Commission). 4. Creating the Payment Services Directive for SEPA ( Sharon Bowles, Member of the European Parliament). PART 2: THE VIEWS OF THE PAYMENT PROCESSORS. 5. Was SEPA worth the effort after all? ( Geoffroy de Schrevel, SWIFT). 6. Europe's future payments infrastructures ( Daniel Szmukler, EBA CLEARING). 7. Bilateral clearing likely to be dominant clearing method in SEPA ...
