Banks that take a forward-looking view and opt for additional services which will automate the payment process will create new business opportunities. The changes which are required in the initial phase of the setting-up of SEPA are certainly substantial, and benefits can be reaped especially by those institutions that embrace new technological developments and provide innovative services.
Data analytics solutions can crunch huge data and give us the patterns, that too in a visual, easily understandable format. 2  BIS central bankers’ speeches  15. Another strong trend in the future would be the profiling of the customer across different channels or medium – online, offline, corporate loans, personal loans, etc.