SEPA stands for the Single Euro Payments Area. This is the area where citizens, companies and other economic actors will be able to make and receive payments in euro whether between or within national boundaries under the same basic conditions, rights and obligations regardless of their location within Europe.
"You wouldn't post an important business communication without validating the address and postcode so why risk sending an important credit or D/D without validating the payment instruction first."
Incorrect payments data has the potential to cost your business hundreds of thousands of pounds. Correcting failed transactions takes time, energy and money, to say nothing of the negative impact on customer loyalty.