This is a guest post by Club friend Edith Rigler
We have all been through it, one way or the other. You buy a new device. In the store, you test it and it works beautifully. When you come home and try it again, however, it no longer works. What could be wrong? Is it a sudden flaw? Is it the connection? Have you been sold the wrong product? Whatever the problem turns out to be, you wish that you could have performed end-to-end testing, in your own environment, from the beginning to the end to ensure that everything worked just fine.
This example is not unlike the situation that many financial services institutions are facing at the moment. In just a few weeks, payment providers and users have to be "SEPA-ready", and will have to follow new rules and standards when making and receiving euro payments throughout Europe. The so-called Single Euro Payments Area (SEPA) end-date of February, 1 2014 has been mandated for the euro zone countries by the EU authorities. The deadline is looming and cannot be ignored. Only the new rules and standards will be legally permissible after the end date, replacing the old rules and standards in full.