However painful this may have been for individual institutions, it was right and necessary. But the banks cannot afford to stand still. There are new challenges they have to confront. In particular, margin pressure and increasing competition in domestic business come to mind. 4  Recapitalisation: a “sword” to cut the knot? Adequate capital buffers strengthen the essential resilience of the financial sector.
For a very long time, a paper-based instruction to transfer money directly from one account to another had to be transferred into a digital dataset to be executed electronically. The same holds true for direct debits, which have to be initiated by the payee.