Future Banking Publication|/features/publication4444 : All Issues

We are beginning to see the broader picture of the impact of the new regulatory framework on banks, but many details remain to be set in stone. We are calling for a pan-European approach vs the temptation of some member states to go it alone. We also want regulatory measures to be calibrated, and for a balance to be struck between safety and the possible negative effects of overreaction to ensure financial stability and a well-functioning banking system that supports the real economy. The EBF is a strong advocate of the single rulebook in European regulation. Without a regulatory basis common to all EU countries, our industry will face the challenges of adapting to the different regimes of the various countries in which banks operate, which will have an effect on the competitive landscape. This regulatory balance between the EU member states is the basis for a fair and even outcome – a regulatory burden to be borne equally between all banks operating in EU countries.

No matter how the ever-increasing pace of technology dictates the progress of banking, customers will always be the fundamental measure of success. SEB's global head of group operations and IT Pia Warnerman analyses the balance banks have to find when it comes to complying with stricter regulation on the one hand and maintaining IT integration as a top priority on the other. In a similar vein, Richard Armstrong, head of UK payment acceptance at Barclaycard, explains how contactless payments are no longer driven by financial institutions, but by consumers and merchants. On the subject of payments, which is a recurring theme throughout this issue, Eric Tak, global head of cards, cash and new business at ING, discusses innovations in home markets and their influence on the payments space. Gerard Hartsink, chair of the European Payments Council, also talks about SEPA seeping into practice, and the challenges and benefits it presents.