June 2016 edition
Table of contents
Editorial by Dr. Alexander Verbeck, Credit Suisse
Pan-European successes and challenges in payment traffic
- The SEPA project has had positive effects. This is the opinion of Hays Littlejohn, who became CEO of EBA CLEARING last year. The pan-European clearing house primarily processes SEPA payments for more than 4,800 reachable financial institutions. Instant payments will be added at the end of 2017. He discusses another hot topic in the following interview: blockchains.
Mobile payments – or the art of riding waves
Interoperability of P2P solutions in Europe
- Across SEPA, many countries have already introduced one or several P2P mobile payment solutions. These transactions are becoming increasingly popular thanks to their convenience in situations such as sending money urgently to, for example, a relative. Currently, more than fifty solutions co-exist, however, they are usually limited to a national level, and often even to an intra-bank level.
EBICS is more than a file transfer from A to B
ISO 20022: Are banks ready to start with customer communication?
- A total of 440 answers and 180 comments: that is the yield from the survey about the readiness status of the Swiss financial institutions conducted by PaymentStandards.CH in March. Eleven questions were aimed to find out whether business customers and their staff are sufficiently informed about the migration of payment traffic to ISO 20022. The results are not quite so easily interpreted.
The future of electronic account information: camt messages
- Up-to-date account balances and notifications of movements are indispensable for regular account reconciliations and cash management. To meet regulatory provisions and to achieve continuous automated processing of transactions, in the future, camt messages will be used in the Swiss financial center for electronic account statements according to the globally recognized ISO 20022 standard.
SIC to stay open longer
- Staying open longer is not just an issue for Swiss retailers. Longer opening hours have also been under consideration for the SIC system for years. The Swiss National Bank recently approved a request from the Board of Directors of SIX Interbank Clearing to shift the day-end processing by two hours into the evening as of 15 May 2017.