Search
 

SEPA Inertia Sets in as Costs Climb

As banks struggle to meet SEPA deadlines, officials are grumbling about the high costs, long payback and harsh deadlines. Sound familiar?

By Staff Writer | Updated on July 01, 2008

As European banks struggle to meet SEPA compliance deadlines, corporate officials are beginning to sound a lot like they did in the early years of Sarbanes-Oxley. They are grumbling about the high costs, slow payback and harsh deadlines. Sound familiar?

Six months after the first stage of SEPA, for the Single Euro Payments Area, went live, the grousing and inertia has many procrastinating and pressing for extended deadlines. “With all the regulation that banks have had in had to comply with over 10 years, it’s not surprising that we’re seeing the emergence of SEPA-fatigue,” says Rachael Hunt, European banking research manager at IDC’s Financial Insights, adding that this lethargy is similar to the weariness that set in after Sarbanes Oxley (SOX) became law.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.