Fine-tuning for European banking as SEPA takes hold

摘要

Michael Mueller, head of wholesale solutions for Deutsche Bank's global transaction banking business, spoke to Charlie Corbett about the implications of this year's roll out of a Single Euro Payments Area (SEPA) for the European banking industry. The full impact of SEPA has yet to be felt and will not be fully known for several years but what is understood is that the cost of implementing the technology required to meet SEPA's standards, combined with the implicit loss of revenue due to the end of cross-border payments, will have serious implications for banks' bottom lines. The Banker asked Mr Mueller how these developments will change European banking in the future and how much it will all cost.