By Arthur Brieske, Global Head of Innovation and Commercialization & Americas Regional Head of Product Technology Management, Global Transaction Banking, Deutsche Bank, and Martin Runow, Head of Cash Management Corporates for the Americas, Global Transaction Banking, Deutsche Bank
On February 1, 2014, migration to the single euro payments area (SEPA) credit transfer (SCT) and SEPA direct debit (SDD) will become a reality. Rather than looking at this as an end-date, it should be viewed as the beginning of new and exciting centralization, automation and standardization opportunities for corporates. They will now have the opportunity to concentrate on the resulting benefits of SEPA compliance instead of focusing on looming deadlines and rising implementation costs.
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