Large European corporate treasuries are largely unmoved by the shift to
a single euro payments area (Sepa) and are unimpressed by other
banking-led connectivity initiatives such as direct access to SwiftNet,
according to a study by consulting firm Treasury Strategies.
The survey of 511 companies from across Western Europe found that nearly
60% of European companies do not consider preparing for the introduction
of Sepa as a “high priority”.
Furthermore, fewer than 30% of respondents are interested in key banking
initiatives such as direct Swift connectivity, globalization of
messaging standards and continuous linked settlement.
Stephen Baird, principal with Treasury Strategies and leader of the
research program, says: “The low level of interest or familiarity
among many European companies with key industry initiatives –
particularly Sepa and SwiftNet – raises the question of whether banks
are adequately focused on getting their clients ready for these changes.”
The consultancy warns that if caught unprepared for Sepa, a treasury
department could find itself unable to efficiently execute payments and
may incur higher bank fees.
