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The SEPA Challenge
What will it bring us?
Jaco Booster
Amsterdam, 22th of May 2013
Topics
Introduction
1. What is the SEPA impact?
2. What is the status of the SEPA Migration?
3. What are the main issues?
4. What can we expect after the 1st february 2014?
And… what are the opportunities for Mobile Payments?
Expert consultancy house
Founded in 1997
Expertise and focus on Payments, Risk and Treasury
70 highly skilled consultants
SEPA
Marketleader in SEPA consultancy in NL, owner of www.sepa.nl
As of 2005 involved in SEPA projects at the Major banks
SEPA support (migration, customer support, services) at ABN AMRO, ING
and Rabo
Direct access to the Dutch Payment forum, NFS, DNB and ECB
Participated in more then 40 SEPA projecten for corporates & institutions
Enigma – summary
3
References portfolio – a selection
4
1
SEPA in practice
6
2
5
Rabobank komt met verticale
pas
maandag 5 mrt 2012, 08:03
3
7
5
What is the Impact? Or what’s new?
1. New payment products
6
2. New contracts with your Bank
3. New account numbers (from BBAN to IBAN)
4. New mandate proces
5. New pre-notification process
6. New payment process
7. New payment formats
8. New reconciliation process
9. New validation methods (audit impact)
10. New payment channels
Huge risk as almost
everything in the
payment process
changes!
What is the impact?
SEPA is a quest, without knowing what is still coming…
7
We are lost,
Bello
Tourist
information!
We are
saved!
You are here
What the status of the SCT migration in Europa?
8
SCT
Source: ECB - quantitative indicators march 2013
What’s the status of the SDD migration in Europa?
9
SDD
Source: ECB - quantitative indicators March2013
And how are the Dutch doing?
10
SCT Bron: ECB - quantitative indicators maart 2013
What are the main issues?
11
1. The misconceptions and huge under-estimation
– “SEPA is an IT project, just a change of the IBAN number”
– “My software supplier will fix it”
– “My bank will fix it”
2. Reporting
3. Testing
4. Complexity of SDD Logic
5. Migration roadmap
6. The Grey Area
What can we expect
after the 1st of Februari
2014?
12
1. Solving the bugs / Finishing the job
(get rid of conversions, intermediate solutions)
2. Standardisation
(get rid off niche products, waivers, dialects)
3. eSEPA …. finally
Mobile Opportunity?
Level Playing Field in Europe
(SEPA provides the Mobile Standard)
eMandates
13
→ EPC: already approved 2008 to offer e-mandates
→ No formal solution of the banks … yet.
→ NL solution mid 2015 (project running, specs ready june 2013)
→ Corporates however demand a solution NOW!
→ Result: Many non-bank initiatives pop-up (such as 4DMS, Buckaroo
and Acceptemail)
→ But:
– No pan-European solution (MyBank has aspirations)
– No bank approved solution (= not execute a MOI on customer request)
Mobile Opportunity?
eMandate Acceptance
Whitelisting
14
→ Blacklisting
– Everbody can debit my account unless …
Amount higher then X
Not from NL
Company Y
→Whitelisting
– Nobody is allowed to debit my account unless …
Company Y X
Company Z
– Introduction linked in NL to e-Mandates
(history build up)
Blacklisting
exists but more
variations will
come
Whitelisting is
new (Regulation)
and MUST be
offerered by
banks
Medio 2015 in NL!
Mobile Opportunity?
Black/Whitelist management
Payment Account
Access Services
15
Mobile Opportunity?
Account Balance Inquiry
Amount Reservations
Initiate a Payment
Conclusions
SEPA still has a long way to go!
But there are many opportunities coming ahead for
Mobile Payments!
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Questions?
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Contact
Enigma Consulting Wilhelminalaan 51
3701 BG, Zeist,
Netherlands
T +31 30 27 60 535
www.enigmaconsulting.nl
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Jaco Booster Managing Partner
T +31 6 27 29 05 90
