Beyond barriers
The European Union has embarked on ambitious plans to overhaul the back office. But, as Dianne See Morrison finds, progress has been slow as the industry struggles to overcome entrenched business models
There's a story Roel Wolfert, group director at payments and payments technology vendor Logica, tells when he is explaining how the EU's Single Euro Payments Area (Sepa) and the Payment Services Directive work. It's about a US banker he recently had to brief on the two proposals to create a better eurozone-wide payments system. After understanding the enormous task the two proposals pose, the banker said: "I thought harmonising things was supposed to make things easier."
It's a quip that could
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