With the Single Euro Payments Area slowly taking shape in Europe, bank executives say it may take years to recover lost revenue from SEPA pricing mandates, according to a survey from United States-based FundTech Ltd. The banking-software provider interviewed 57 bank executives at the company's London client forum in February. Of those surveyed, 63% said the impact of SEPA would be considerable on their organization's profits. Almost half, 44%, believed it would take longer than five years to replace lost revenue from the pricing mandates. George Ravich, Fundtech chief marketing officer, tells CardLine Global banks have a decades-old system, "which has been constructed around the idea that when a bank does a cross-border payment, [it] can charge the customer a lot more." SEPA eliminates that system, and banks now have to find an alternative one, Ravich says. The survey findings also indicate banks view mobile banking as a service that will benefit them in the future. Thirty-four percent of those surveyed said it will take three to five years for mobile banking to become a meaningful contributor to their company's bottom line, while 38% said it would take longer than five years. Twenty-two percent predicted mobile banking never will become a meaningful contributor. "Mobile banking is becoming something of a competitive feature just like years ago when it was competitive feature on the consumer side to have Internet banking," Ravish says.