This post was originally published on Fin Extra
With most financial institutions’ strategies now in place to comply with SEPA Instant Credit mandates, what’s envisioned immediately and ongoing after the regulation takes effect in 2025 across all Euro transacting, SEPA countries? On Day One, within the first ninety days, and looking ahead one year after its effective dates, what can we expect in terms of the SCT Inst’s impacts on consumers, merchants, corporations, and their financial providers? Will we see the increase in volumes and a change in behavior as the regulation intends? How about cost savings – or potentially rising levels of financial crime? For the institutions that do meet the deadlines, how quickly will benefits be realised from the rule’s implementation, and in contrast, what might happen to those still in non-compliance, or slow to clarify their rollout plans? Which client use cases will prove to be most popular right from the start, and help the industry demonstrate – even to non-Euro countries – how to broadly advance financial inclusion by promoting SEPA’s new cross-regional instant payments functionality? Once the new payment rails and rules are widely adopted, what’s the next priority, and what role will Wero, the Europe-wide digital payment system launched in mid-2024,
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