Future of Finance After Sepa

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 ...

List of contents

Contents
 

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
 
Henrik Parl, Eurogiro
 

8 Is listening to the regulator enough?
 
Nick Senechal, VocaLink
 

9 The implications of SEPA to the Nordics
 
Bodil Nelsson and Mats Wallén, Bankgirocentralen BGC AB, Sweden
 

10 Eight Predictions for SEPA's Impact on Payment Cards
 
John Chaplin, First Data
 

11 SEPA and eCommerce - the Consumer is King
 
René Pelegero, PayPal
 

PART 3 THE VIEWS OF THE BANKS
 

12 The Payment Services Directive - a critical review
 
Ruth Wandhöfer, Citi
 

13 SEPA - The Implications for banks
 
Mark Hale, Barclays Bank
 

14 Bring on the benefits, a SEPA success story
 
James Barclay, JPMorgan Chase
 

15 The Impact of SEPA on the Irish Payments Industry
 
Brenda O'Connell, Bank of Ireland
 

16 After 2010: Will the customer become King?
 
Harry Leinonen, the Bank of Finland
 

17 The implications of SEPA for e-invoicing
 
Erkki Poutiainen, Nordea
 

18 Banking after SEPA: 2010 and beyond
 
Daniele Danese, Banca Popolare di Verona
 

PART 4 THE VIEWS OF THE CORPORATES
 

19 SEPA: an introduction for corporates
 
John Ryan, CASS Business School
 

20 SEPA: The Corporate Perspective
 
Gianfranco Tabasso, EACT and Tom Buschman, TWIST
 

PART 5 THE VIEWS OF THE OBSERVERS OF SEPA
 

21 Will the promises of SEPA come true for corporates?
 
Juergen Weiss, Gartner
 

22 The Single European Payments Area - the user and supplier perspectives
 
David Doyle, EU Policy Advisor on Financial Markets
 

23 SEPA - It's Trench Warefare
 
Ashley Dowson, the SEPA Consultancy
 

24 Payments Operations - Building to protect the franchise
 
Robert Bradfield, Ernst & Young
 

25 SWIFT for Corporates, a channel to SEPA?
 
Hervé Postic, founder, UTSIT Paris
 

PART 6 THE VIEW OF THE IMPLEMENTERS OF SEPA
 

26 The most critical technologies for SEPA
 
Neil Burton, IBM
 

27 Compliance: Friend or Foe?
 
Sean Fitzgerald, Sentenial
 

28SEPA: How the technology requirements for SEPA will help it evolve
 
Jonathan Williams, Eiger
 

29 The relationship between SEPA and Anti-Money Laundering (AML)
 
Anthony Kirby, Chair Reference Data Subject Group
 

30 SEPA and identity: are you who you say you are, and does it matter?
 
John Bullard, IdenTrust
 

31 Why SEPA needs e-invoicing
 
Bo Harald, Tieto

Product details

• Authors: C Skinner, Chris Skinner, Chris (Balatro Ltd) Skinner, Skinner Chris
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 04.04.2008
• EAN: 9780470987827
• ISBN: 978-0-470-98782-7
• No. of pages: 330
• Series: Wiley Finance; Wiley Finance Editions; The Wiley Finance Series; Wiley Finance; Wiley Finance Series
• Subjects: Social sciences, law, business > Business > Business administration; Zahlungsverkehr, Allg. Finanz- u. Anlagewesen, Finance & Investments, Finanz- u. Anlagewesen