Overall, improvement in risk management systems, upgradation of technological platforms and building up of specialized skills in the banking system are the challenges which will distinguish the more successful ones from the others.
Let’s complement the SEPA instruments with innovative services, such as online and mobile payment initiation, e-invoicing and e-reconciliation. By combining these services with SEPA instruments, we eliminate paper and the payment  BIS Review 11/2008  1  process becomes fully electronic. End-users will spend less time on payments – and, as we all know, time means money.