The August 2022 Aite-Novarica report European Payment Infrastructures Under Renovation: Impact on Financial Institutions by Gilles Ubaghs, Ron van Wezel, and Benjamin Nestor examines modernization initiatives across Europe’s payment systems, including SEPA enhancements, clearing and settlement upgrades, and pan-European projects. It analyzes developments in key markets such as Germany, France, the UK, and the Nordics, highlighting drivers like real-time payments, cloud adoption, and regulatory harmonization. The report outlines challenges for banks, strategic decisions on buy vs. build, and the benefits of modernization, including improved efficiency, innovation capacity, and cross-border payment integration.

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