2013 Predictions: Bob Lyddon, Owner, Lyddon Consulting

In 2013, it will become apparent that the scope of the SEPA migration will leave many payment schemes from the legacy world either untouched or not moving until 2016. Even to achieve the more limited migration by 2014, different countries will have to include extra data beyond the EPC specs, in the form of Additional Optional Services (AOS). These uncertainties, combined with the late start on work by users, will compress the time available for IT development, process change and design. Preventing an adequate testing phase, this is a high risk strategy.

Bob Lyddon, Owner, Lyddon Consulting says:

"In 2013, it will become apparent that the scope of the SEPA migration will leave many payment schemes from the legacy world either untouched or not moving until 2016. Even to achieve the more limited migration by 2014, different countries will have to include extra data beyond the EPC specs, in the form of Additional Optional Services (AOS). These uncertainties, combined with the late start on work by users, will compress the time available for IT development, process change and design. Preventing an adequate testing phase, this is a high risk strategy.

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If they plough on with there is a high risk of systemic disaster. This could result in payment systems going down. If it were to happen on the Friday before a weekend which was also a month end, it would mean no salaries or pension/social payments could be made by credit transfer for many days, and no local taxes/utility/telephone charges could be collected."