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Exploiting the new opportunities in European payments
Journal of Payments Strategy & Systems,
1
(4),
331-341
(2007)
Abstract
Changes to the payments landscape in Europe are far reaching and will affect many corporate organisations, including those for which European payments may currently seem a low priority. This paper examines the drivers for change and the plethora of regulatory and legislative changes that have resulted. Central to the issue are differing perspectives as to the meaning of ‘Straight Through Processing’ depending on an organisation’s role in the payments process. This significantly affects perceptions of the success of payment systems. The paper examines a variety of strategic initiatives through which organisations can achieve efficiency in their payments processes, focusing in particular on the advantages of consolidating the payments function. It concludes by outlining specific action that organisations should take in the light of recent regulatory change, and offers general guidance on how to build a business case for change while minimising risk to existing business processes.
Keywords: Payments; Straight Through Processing; IBAN; Payment Services Directive; SEPA; corporate treasury; payments factory
The full article is available to subscribers to the journal.
Author's Biography
Jonathan Williams is responsible for market liaison and new product strategies, also representing Eiger Systems at industry events and conferences. Originally from a technical background, Jonathan joined Eiger Systems in 2002 from a position as European Business Development Manager for Fujitsu Telecom. He has held engineering and IT roles at British Aerospace, Cambridge University and Advanced Telecommunications Modules Ltd as well as senior marketing roles at Virata and Baltimore Technologies. In addition to strong commercial and customer-handling skills (including sales and support experience), he brings his extensive systems and networking expertise to bear to create solutions for the benefit of customers and partners. Jonathan holds an MA in Theoretical Physics and a postgraduate qualification in Computer Science from the University of Cambridge and is the Eiger Systems representative to the Euro Banking Association (EBA), APACS Affiliates, Australian Payments Clearing Association (APCA) and BACS Affiliates Interest Group.
