Webinar: SEPA Inst Mandate Ratification – Next Steps to Meet the Requirements by The Paypers

SEPA Inst Mandate Ratification – Next Steps to Meet the Requirements

About

December 4th saw a key update for the much-anticipated SEPA Inst Mandate from the European Commission. The timelines for when PSPs in a Member State need to be equipped to enable all EU Citizens to receive Instant Payments have been extended to nine months after ratification and being able to send within 18 months. The deadlines for PSPs located in a member state whose currency is not the euro are 33 and 39 months, respectively. There are also separate timelines for electronic money institutions. Therefore, PSPs need to start planning their strategy, implementation, testing, and delivery now.

Adding a new payment rail in itself involves at least a 9-month project. However, there are additional requirements as well: that fees for these new instant payments stay in line with non-instant transfers (9 months and 33 months) and that you will have the functionality in place to match the international bank account number (IBAN) and the name of the beneficiary and verify clients against the EU sanctions list on a daily basis at least. The deadlines for verification of payee are 18 months and 39 months.

Whilst an official date for ratification of the mandate still needs to be confirmed, the next key discussion is the 5th of February 2024, with a predicted date of May 2024. Therefore, the time is now to start planning and kickstart implementation.

This webinar and our expert panel will look to solve the main barriers to adoption, the most efficient strategy for implementation, and how to mitigate costs by creating new revenue streams.

Agenda

What has changed between the 2022 European Commission proposal and the ratified version today? Timelines, inclusion of electronic money PSPs, clarification on dates for verification of payee.
What are the main barriers to adoption?
Which strategies will best address these pain points, including the option to transition to SaaS or choose a sponsor bank model?
How will Verification of Payee and Harmonized Sanction Screening work? Will ECB offer a similar model to Pay.UK?
Case studies: How have the banks on our panel prioritised their instant payments roadmaps, and what lessons have they learned?
What are the key benefits of adopting instant payments, and what is the business case for doing this ASAP before the mandate deadline?

Presenters

Frédéric Viard

Head of Commercial Product Management – Financial Messaging at Bottomline

With over 20 years of experience in the financial messaging market, Fréderic drives Bottomline’s product road-map to help banks & FIs achieve wider reach, speed-to-market, industry compliance, greater security and improved risk management.

Diederik Bruggink

Head of Innovation and Payments at ESBG-WSBI/European Payments Council

Diederik Bruggink works at the European Savings and Retail Banking Group (ESBG) and at the World Savings and Retail Banking Institute where he is responsible for all payments topics worldwide. In that role, he analyses the multiple dimensions of the payments market, proposing and assisting in agreeing member positions with respect to their payments’ and related businesses. He is also advocates the associations’ positions on payments with policymakers, regulators, standardisation bodies, industry associations, and enabling a constant member dialogue on developments, with a particular focus on innovation. He is a Member of the Board of the European Payments Council and he is a member of the Commission’s Payments Systems Market Expert Group and the European Central Bank’s Market Advisory Group on the Digital Euro, to name a few.

Jessica Ramos

Head of Regulatory and Financial Affairs at EBA CLEARING

Prior to her position at EBA CLEARING, she held a number of positions at SWIFT, namely in Oversight Affairs, Legal & Compliance, Finance and as Chief of Staff to the global CEO. She was also responsible for diversity and inclusion initiatives for the business.

She started her career in 2006 as an Associate in Consortium Central America, focusing on banking, finance, and corporate law. She is a member of the Belgian Company Lawyers Bar, the New York Bar, the Honduran Bar, and the In-house Competition Lawyers Association.

In addition to her Law Degree, Jessica holds an MBA in Finance, an LL.M. in Corporate Law from New York University (NYU) and an LL.M. in Competition Law and Economics from the Brussels School of Competition. She is certified in Governance, Risk and Compliance (GRC), Cyber Security for Business Leaders and Social Media Marketing and Law, Cognitive Technologies & Artificial Intelligence.

Uwe Klatt

CEO at GEVA Group AG

Uwe Klatt started his career at GEVA in 1998 as a developer and completed his specialization with a Master´s degree in Business Administration in 2002 at the University of Wales, Cardiff, successfully.

In 2004, he started as a Chief Executive Officer at GEVA and since then he has realized national and international projects within the payment transactions world. Some of these flagship projects were the introduction of the €uro as a currency, SEPA, Instant Payments and Request-to-Pay. Uwe Klatt is currently responsible for all stra-tegic projects like "the digital Euro, currencies & stablecoins".

Mélisande Mual

Publisher and Managing Director at The Paypers

Mélisande Mual is the publisher and owner of The Paypers, the global leading source of news and intelligence for professionals in payments, fintech and digital commerce. Prior to The Paypers, Mélisande held several leadership positions in leading B2B Publisher (Wolters Kluwer) and Telecom (KPN) companies.

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