banking-communication-swift

Banking communication
PWC: Treasury hot topics conference
Elie Lasker
Head of Corporate market – SWIFT
Thursday: 24 Feb 2011

2
Agenda
Corporates on SWIFT – status update
Bank certification programme
Additional services
PWC - 24 February 2011

Breakdown by region and annual revenues
Total: 726
# corporates
<500M
500M-1B
Emergence of mid’ market adoption in EMEA
3

Typical implementation
FIN (individual messages)Payments (MT101), statements (MT940/2) and FX confirmations (MT3xx)
SWIFTNet
FileAct (File transfer)Transport any format; payments files, iDOC, ISO 20022, ACHs, BAI formats, …
Treasury Workstation
Paymentfactory/middleware
ERP(s)
ERP(s)
ERP
Connectivity
4

Distribution of connectivity per corporate size
5
Annual turnover

6
Agenda
Additional services

Bank readiness certification programme: background
Reason
Early 2010 bank and corporatesurveyresults
Goal
Increasebanks' (operational and commercial) readinessstatus
Increasevisibility of banks' readinessstatustowardscorporates
Scope
Operational:
correct offer of essential message standards
availability of documentation
efficient support during roll-out
Commercial:
availability of collateral
qualified sales force
7

Bank readinesswebsite
8

9
Agenda
Additional services

Treasury deals confirmations and SWIFT AccordCentral Matching Service
Deal
1
FIN
MT 3xx
MT 3xx
Corporate
Broker / Dealer
Copies of
confirmations
Real-time interactive Reporting and Exception handling
2
4
Accord
Confirmation Matching
3
10

SWIFT flows FIN MT798
SWIFT flows FileAct
SWIFT flows FIN MT7xx
Any format
Any format
MT798s
MT798s
1
2
3
Seller
Buyer
Buyer’s bank(s)
Seller’s
bank(s)
FIN MT7xx
1 Buyer sends Application for a Letter of Credit to its bank either via FIN (MT798) or via FileAct (eg, other format)
2 Buyer’s bank extracts the appropriate data from the incoming Application flows (eg, MT798), putting them into an Issue of Letter of Credit and sends them to the seller’s bank over FIN (eg, MT700)
3 Seller’s bank forwards the MT700 to the Seller as an Advice of Letter of Credit using FIN (MT798) or FileAct (eg, other format)
Trade for Corporates
11

Current Landscape – The Corporate View
12
We have !!!
Wewant
ALL BANKS
Multi-Bank
Multi-Application
Multi-Network
Multi-Country
No uniform mechanism
Different system per bank
Costly & difficult to maintain

Electronic Bank Account Management (EBAM)Solution objectives
Today
Tomorrow
Paper
XML messages
Supporting documents
Personal Digital Signature
Fax
Dematerialised
Automated/STP
Slow
Low integration
Faster/cheaper
Standardised
Expensive
Low satisfaction
13

The EBAM Central Utility - being investigated
14
Banks
Corporates
EBAM central utility
Administrator database
app-to-appmessaging
Bank and countryrequirements database
Messaging and validation module
GUI
SWIFTNet
browsing
Internet
Key features and benefitsCentral Utility validates XML instructions, incl. bank and country specific implementations
Banks offer a single “source of truth” for bank/country requirements, to vendors and customers
Corporates offer an "administrators database", with the legal representatives of an organisation
A GUI allows to manually initiate EBAM transactions
Access through SWIFTNet and/or internet
Registration and access control is 3SKey-based

BPO: new inter-bank instrument in support of Open Account services
Physical presentation of
compliant documents
Electronic presentation of
compliant data
15

Q&A
?
16

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banking-communication-swift

by PwC Belgium on Mar 03, 2011

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