Following the introduction of euro notes and coin, the EU banking industry, strongly supported by the European Commission and the European Central Bank, has been working to develop harmonized schemes for electronic payments in euro within the Single Euro Payments Area (SEPA). The aim of the SEPA project is to improve the efficiency of cross-border payments in euro, and turn existing fragmented national markets into a single pan-European market, adhering to the same set of rules and standards for the execution of credit transfers and direct debits.
In February 2012, the EU adopted Regulation 260/2012 (the SEPA end-date Regulation), establishing technical and business requirements for credit transfers and direct debits in euro, and stipulating 1 February 2014 as the deadline for compliance with these provisions. This means that as of that date, all existing national schemes for euro credit transfers and direct debits must be replaced by SEPA-compliant schemes.
SEPA Information Seminar
This is a free information session on SEPA organized by the Malta Institute of Management together with the Chamber of Engineers delivered by the Malta Bankers Association.
VENUE: Chamber of Engineers Premises, 127, Professional Centre, Sliema Road, Gzira, GZR 1633
DATE: 26th March, 2013 at 4pm
Objectives of the seminar
To explain the practical implications of the SEPA Regulation for businesses, thereby assisting participants to assess their state of preparedness for migration to SEPA by 1 February 2014, and to guide businesses on the actions which need to be taken to achieve such compliance within the stipulated timeframe.
Topics on Agenda
The presentation will cover the following topics:
- Introduction to SEPA, its objectives and benefits
- Impact of SEPA on businesses
- Progress achieved so far in Malta
- Preparing your business for SEPA Migration
- Migration from an IT perspective
Businesses which originate or receive payments by way of credit transfers and/or direct debits, as well as providers of I.C.T services to such businesses.
Herman Ciappara is Head, Payments & Banking Department at the Central Bank of Malta, responsible for the provision of banking services to Government departments, for back-office operations, and for regulation and oversight of payment and securities settlement systems. He chairs the Malta Clearing House Committee, the Payment Systems User Group within the Malta Bankers’ Association and the National SEPA Coordination Committee. He is also Malta’s representative at the Payment & Settlement Systems Committee within the Eurosystem of Central Banks.
Vincent Demicoli is an Executive Manager at HSBC Bank Malta p.l.c. His responsibilities include the implementation of SEPA Products and related channels in line with the SEPA End Date Regulation. He has over twenty four years experience in various technical roles within the bank’s Information Technology area including leadership roles in IT Operations, Software delivery and Project Management