SEPA will change the way payments within the Euro-zone will be executed. No more cross border transactions within the Euro-zone, uniform formats and payment schemes, more players in one single area will push competitiveness. It is no longer necessary to have multiple accounts in multiple countries. Cash management (cash concentration) can be more efficient: SEPA paves the way to streamline the cash management activity.
Inhouse BankingAdvantages of SEPA for Corporations:
- Economies of scale: concentrating payments through one bank in one location will improve bank costs.
- Simplify the payment system architecture (one architecture/process to serve different entities).
- Allows better STP (straight through processing) for cash management.
- Creation of Share Service Center as center of excellence to perform cash management.
ATOLL can help implementing such In-House Banking framework, the case being through the setup of a Payment Shared Service Center.
How does In-House Banking help benefiting from SEPA and optimizing your Cash Management function?