- Three-quarters of treasury professionals say their European payments are more efficient post SEPA.
- 73% expect to spend more time on compliance in 2015 than in 2014.
21 OCTOBER 2014, London, UK – Senior treasury and finance professionals say that the Single Euro Payments Area (SEPA) has brought greater efficiency to the European payments industry.
This was the key finding of the "Treasury Verdict" session taken by a live audience poll at EuroFinance's 23rd conference on International Cash and Treasury Management, held in Budapest. The session is sponsored by BNP Paribas Cash Management.
Three-quarters of treasury professionals said their European payments are more efficient post SEPA, which came into effect in February 2014.
However, companies are having to dedicate increasing resources to dealing with regulatory compliance. 73% of treasury professionals said they are expecting to spend more time on compliance in 2015 than in 2014.
"After all the long and arduous challenges of the SEPA implementation process, it’s good to see corporates reaping the benefits. This bodes well for European payments going forward, particularly as corporates are rolling out the benefits beyond their European operations,” says Katharine Morton, editorial director at EuroFinance. “But elsewhere compliance is going to be even more time consuming going forward and treasuries are not getting additional resources to cope.”
Notes for Editors
328 respondents took part in the poll which was carried out at the EuroFinance International Cash & Treasury Management conference in Budapest on 16 October 2014. The 'Treasury Verdict' voting session takes place in a live auditorium of conference delegates from the financial and treasury profession.