However, banks have not been able to reap the benefits of this technology in terms of reduction in costs of small value transactions, speed with which the transactions are done if both successful and unsuccessful transactions are considered, improved customer services and effective flow of information within the banks as also to the regulator.
The decisive point is that the national supervisor remains the direct contact for the credit institutions and generally takes the associated supervisory decisions. But there will also be some changes in terms of the supervision of less significant institutions, because the SSM will influence the supervisory approach of the national supervisors.