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One of the reasons I'm so eagerly waiting for SEPA (Single European Payment Area) to really come into force. Now banks compete mostly on country level, but when
by bergie 15y ago
One of the reasons I'm so eagerly waiting for SEPA (Single European Payment Area) to really come into force. Now banks compete mostly on country level, but when you can easily switch banks inside EU, there is bound to be some competition and innovation.
In Finland we're kind of suffering from being pioneers. Finnish banks deployed nice (for the time) web banking interfaces more than a decade ago. But then, having made the big investments in them and seeing little competition, innovation stopped.
Nordea rolled out a slightly improved web interface a couple of years ago, and ever since then their login page has had the message "the new banking interface is coming to our business customers soon"...
- jarek 15y agoEven without SEPA in full swing, your banking situation is still miles ahead of anyone in North America. A nice web interface is one thing, a $25 wire transfer or relying on external, often slow payment processors like Paypal or Certapay/e-Transfer quite another.
- mahyarm 15y agoBanks can give these interfaces easily, like generalized ACH interfaces, like some merchants have already, but then it would expose to the general public how badly secured the entire design of the system is.