SEPA aims to create a single European payments market by 2010. The introduction of SEPA is expected to increase cross-border payments and the use of electronic instruments such as direct debits, credit transfers and cards across Europe. It is expected to add to the pressure on banks' revenues and margins, throw up legal and compliance issues, and increase the demand for robust and scalable technology and applications.
Banks and financial services organisations are expected to spend billions in transitioning costs, as SEPA comes closer to becoming a reality. The focus of the banks will be on the following:
- Adopting/implementing relevant applications to facilitate:
- Cross Border Payments
- Customer relations
- Alternative revenue sources
- Migrating/integrating new platforms
- Automating standardized cross border payments
- Improving efficiencies and competitiveness
As a bank or financial institution, you can mitigate the risks involved in transitioning from legacy payment systems by outsourcing your testing requirements to us. As a financial domain focused independent testing company, we have the necessary skills and experience to comprehensively test your applications and minimise risks as you undertake SEPA related initiatives.
We can help you at every stage of the software implementation process. These include:
- Mapping business processes
- Conducting Gap analysis in Documentation
- Preparing Functional Specification Document/Request For Proposal
- Independent functional testing
Creating Automated Regression Test Packs
- Providing user support
You can partner with us to benefit from our comprehensive Software testing and Business Requirements Assurance services to make your SEPA IT strategy work within cost and timelines.