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CBF 2014 - ISO 20022: Ready for the present
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CBF 2014 - ISO 20022: Ready for the present

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Work Session - ISO 20022: Ready for the present

Work Session - ISO 20022: Ready for the present

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  • 1. SWIFT & ISO 20022 Ready for the future present Pat Antonacci Frank Van Driessche CBF - Toronto, 7th April 2014
  • 2. Africa Angola Algeria Botswana Central African States (BEAC) Comesa EAPS (EAC) Egypt Gambia Ghana Kenya Lesotho Mauritius Morocco Namibia Sierra Leone SIRESS (ZA) South Africa Swaziland Tanzania Tunisia Uganda West African States (BCEAO) Zambia Zimbabwe Asia Pacific Australia Brunei Fiji Hong Kong Macao New Zealand Philippines Singapore Sri Lanka Taiwan Thailand Central & Eastern Europe Albania Azerbaijan Bosnia & Herzegovina Bulgaria Croatia Hungary Latvia Poland Romania Russia North America Canada US (IPF) Central & Latin America Bahamas Barbados Chile Colombia Dominican Rep. & CMCA ECCB El Salvador Guatemala Honduras Trinidad & Tobago Venezuela Western Europe Denmark Iceland Norway Sweden Switzerland UK Eurozone Target 2 EBA Clearing Austria Belgium Germany Greece Ireland Italy Netherlands Poland Portugal Spain Middle East Bahrain Israel Jordan Kuwait Lebanon Palestine Qatar UAE (DIFC) 74 high-value PMIs 250+ million payments/year 27 retail PMIs 8+ billion payments/year 2000+ banks 90+ countries Payment market infrastructures on SWIFT SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 3. IPFA SEPA,EU BR DK CH FED, US CPA, CA IPFA T2, EU AU Zengin, JP CNAPS, CN IN Low- value High- value BOJNet, JP CPA, CA Live Live Live NZ SG CO PE Live PG CL ZA PL BN CNAPS, CN SADC UK Global ISO 20022 adoption by PMIs
  • 4. ISO 20022 for high-value payments ISO 20022 for retail payments ISO 20022 and SWIFT services SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Agenda
  • 5. ISO 20022 for high-value payments ISO 20022 for retail payments ISO 20022 and SWIFT services SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Agenda
  • 6. Standards Platform Migration enablers SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 ISO 20022 for high-value payments
  • 7. Standards Platform Migration enablers SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 ISO 20022 for high-value payments
  • 8. Payments ecosystem gap analysis Standards MT Name ISO 20022 Name Payments Initiation MT 101 Request for Transfer pain.001 Customer Credit Transfer Initiation MT 104 Request for Direct Debit pain.008 Customer Direct Debit Initiation MT 207 Request for Financial Institution Transfer pain.001 Covered by Customer Credit Transfer Initiation Payments Clearing & Settlement MT 102 (+) Multiple Customer Credit Transfer pacs.008 FI To FI Customer Credit Transfer MT 102 REJT Multiple Customer Credit Transfer - Reject pacs.002 FI To FI Payment Status Report MT 102 RETN Multiple Customer Credit Transfer - Return pacs.004 Payment Return MT 103 (+) Single Customer Credit Transfer pacs.008 FI To FI Customer Credit Transfer MT 103 REJT Single Customer Credit Transfer - Reject pacs.002 FI To FI Payment Status Report MT 103 RETN Single Customer Credit Transfer - Return pacs.004 Payment Return MT 104 Direct Debit pacs.003 FI To FI Customer Direct Debit MT 107 General Direct Debit pacs.003 FI To FI Customer Direct Debit MT 200 Financial Institution Transfer for its Own Account pacs.009 Financial Institution Credit Transfer MT 201 Multiple Financial Institution Transfer for its Own Account pacs.009 Financial Institution Credit Transfer MT 202 (COV) General Financial Institution Transfer pacs.009 Financial Institution Credit Transfer MT 203 Multiple General Financial Institution Transfer pacs.009 Financial Institution Credit Transfer MT 204 Financial Markets Direct Debit Message pacs.010 Financial Institution Direct Debit MT 205 (COV) Financial Institution Transfer Execution pacs.009 Financial Institution Credit Transfer Cash management / reporting MT 210 Notice to Receive camt.057 Notification To Receive MT 900 Confirmation of Debit camt.054 Bank To Customer Debit Credit Notification MT 910 Confirmation of Credit camt.054 Bank To Customer Debit Credit Notification MT 920 Request Message camt.060 Account Reporting Request MT 940 Customer Statement Message camt.053 Bank To Customer Statement MT 941 Balance Report camt.052 Bank To Customer Account Report MT 942 Interim Transaction Report camt.052 Bank To Customer Account Report MT 950 Statement Message camt.053 Bank To Customer Statement MT n92 Request for Cancellation camt.056 FI To FI Payment Cancellation Request SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 9. • What – Agreement on how to use ISO 20022 for high-value clearing payments with a cross-border leg – To protect global players and global interoperability as markets adopt at different speed – Credit transfers, direct debits and reporting messages • How – In cooperation with the Payments Market Practice Group • Approach – Like-for-like approach i.e. reducing richer ISO 20022 to MT functionality • Status – Publicly available since November 2013 in MyStandards – Maintenance process being established – Used as a basis for implementation by many jurisdictions Setting global implementation guidelines Standards
  • 10. Standards Platform Migration enablers SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 ISO 20022 for high-value payments
  • 11. MT 103(+) 202/205(COV) 204 SWIFT Interface SWIFT Interface • Closed user group • Message validation • PKI based security • Archival and retrieval • Copy services • Support MT MI application Authorisation request Authorisation response MT 096 Payment Instruction Autorised/settled Payment Instruction Sender Notification MT 103(+) 202/205(COV) 204 MT 012 MT 097 Abort Notification MT 019 SWIFT’s solution for HVPS adopting ISO 20022 Today’s FIN Copy environment SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 12. pacs.008 pacs.009 pacs.010 SWIFT Interface SWIFT Interface • Closed user group • Message validation • PKI based security • Archival and retrieval • Copy services • Support ISO 20022 MI application Authorisation request Authorisation response pacs 008/009/010 (copy) Payment Instruction Autorised/settled Payment Instruction Sender Notification pacs.008 pacs.009 pacs.010 xsys.002 xsys.001 Abort Notification xsys.003 SWIFT’s solution for HVPS adopting ISO 20022 Tomorrow’s SWIFTNet Copy environment SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 13. Standards Platform Migration enablers SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 ISO 20022 for high-value payments
  • 14. Interface/Integration SWIFT messaging platform Shield users from migration impact Interoperability at the edge MT back-office Send / receive MTs to / from counterparties Send / receive MXs to / from counterparties Transformation MT to MX and vice versa Future route to CPA/T2/EBA… SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 15. • User back offices can be shielded from the impact of migration through – Transformation of business payload, enabled by the like-for-like approach Migration enablers
  • 16. • User back offices can be shielded from the impact of migration through – Transformation of business payload, enabled by the like-for-like approach – Transformation of business information, currently part of technical MT header Migration enablers
  • 17. FIN (MT) Interact (MX) Sender BIC BANKBEBBABC Requestor DN ou=abc,o=bankbebb,o=swift Receiver BIC BANKDEFFXYZ Responder DN ou=xyz,o=bankdeff,o=swift Message type 205 Request type pacs.009.001.04 Priority U/N Priority Urgent/Normal Delivery notification 1/2/3 Delivery notification TRUE/FALSE Obsolescence period 003 (fixed 15 mins) Overdue warning TRUE/FALSE Overdue warning delay 5 mins to 24 hours Field 103 FINCopy service code CAD Service name eg lvts.copy Copy indicator TRUE/FALSE Field 108 Message user reference Reference Request ref Reference Field 119 Validation flag STP, COV Part of validation offering Migration enablers Mapping MT header (business) information
  • 18. • SWIFT will – perform central validation of constraints and cross-element rules of global ISO 20022 message standards – validate compliance with global like-for-like implementation guidelines for use of ISO 20022 • SWIFT will not – validate community-specific implementations Validation: what’s in, what’s not
  • 19. • User back offices can be shielded from the impact of migration through – Transformation of business payload, enabled by the like-for-like approach – Transformation of business information, currently part of technical MT header – Shielding from protocol changes: evaluation ongoing Migration enablers
  • 20. ISO 20022 for high-value payments ISO 20022 for retail payments ISO 20022 and SWIFT services SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Agenda
  • 21. SWIFT Interface SWIFT Interface • Closed user group based • Validation • PKI based security • Copy services • Support ISO 20022 MI application Authorisation request Authorisation response File with payment instructions Sender Notification xsys.002 xsys.001 Abort Notification xsys.003 SWIFT’s solution for RPS adopting ISO 20022 FileAct Copy SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Autorised/settled file with payment instructions
  • 22. SWIFT Interface SWIFT Interface • Closed user group based • Validation • PKI based security • Copy services • Support ISO 20022 MI application Authorisation request Authorisation response File with payment instructions Sender Notification xsys.002 xsys.001 Abort Notification xsys.003 SWIFT’s solution for RPS adopting ISO 20022 FileAct Header Copy SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Autorised/settled file with payment instructions
  • 23. ISO 20022 for high-value payments ISO 20022 for retail payments ISO 20022 and SWIFT services SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022 Agenda
  • 24. Training Support Consulting S I M P L E , A C C E S S I B L E , C U S T O M I Z A B L E E X P E RT I S E W H E N A N D W H E R E Y O U N E E D I T B U I L D I N G O N 4 0 Y E A R S E X P E R I E N C E SWIFT Services A unique offering around SWIFT’s core competences
  • 25. S W I F T S E R V I C E S CLIENT CHALLENGES S E R V I C E A R E A S CLIENT BENEFITS Benchmark Being at the heart of the financial industry and building on 40 years of experience, a wide team of SWIFT Services experts are at your service to help you with your challenges and opportunities. SWIFT Services experts offer you the highest quality of training, consulting and support, tailored to your needs. They keep you going, resolve your issues and propose improvements where seen. Regulation Efficiency Improving their customer’s experience New initiatives Reduced costs Enable growth Enable compliance Reduced riskAdvice Train Implement Operate Support Changing landscapes Cost reduction Performance In-house expertise Happy customers Streamlined operations Risk management
  • 26. More choice! Adapting our offering to your changing learning trends & preferences SWIFT Training today 4 learning channels: classroom, on-site, web class and eTraining Community training Specialised training Tailored training Tailored training +10.000 users trained per year Business analysts, implementers, operators, administrators, sales staff, security officers, etc. Using SWIFT – Certification Programme Essential knowledge to get started with SWIFT Classroom courses & eTraining modules Specialised or advanced knowledge & skills Classroom courses, Web classes & Certification Customised to an individual institution Private classroom courses, Web classes, eTraining modules & Certification 8.8/10 customer satisfaction
  • 27. New & wanted! Be inspired… Business & Standards ISO 20022 for T2S Connectivity Deploying Alliance Access Using SWIFT – Certification Programme Introduction to Financial Sanctions TSU and BPO in 90 minutes Alliance Access AdministratorOptimising your Alliance resilience Creating SWIFT messages SEPA – Are you ready? ISO 20022 for JASDEC Understanding Alliance Lite2 Alliance Access/Entry Operator SWIFTNet Security Officer SWIFT for Corporates Specialist Operating HSM Operating RMA More flexible approach… ISO 20022 for Canadian payments
  • 28. Traffic data and intelligence Industry and initiatives Business Operations Advice Technical Design and Infrastructure Advice Implementation • New or changing MI specs (T2S, DTCC, SGX, CLS, CPA…) • Regulation and Compliance • Cyber threat • Operational excellence • Care Services • Integration services • Installation services • Solution design • Resilience • Testing • Cloud Services • Landscape analysis • Business Intelligence • Governance • TCO analysis and benchmarking • Operations benchmarking • Business Operations review • Market practice implementation • Standards implementation • SWIFT Ref
  • 29. Strategy Design Internal preparation Testing Go Live Operate Impact assessment (Business &Technical) Solution design Integration Services Go Live assistanc e Canadian payments ISO 20022 initiative How can SWIFT help? Implement Testing assistance Support Services End-to-end Project Management Training and knowledge transfer Generic ISO 20022 courses Initiative specific training NEW Q3 - ISO 20022 for Canadian payments Standards Comparison & Mapping Standards Gap analysis
  • 30. Introduction to Canadian – ISO 20022 initiative Standard schemas/ specifications? Implementation Integration services • Details of the Canadian Payments ISO 20022 specific Schemas and specifications will be published to the community by CPA via MyStandards Business impact assessment • Complete review of all impacted business flows and messages, including comparison, mapping and gap analysis (using MyStandards). • New messages impact assessment and recommendations Canadian payments ISO 20022 initiative Services offering proposal for the community • Workshops giving an overview of the Canadian Payments ISO 20022 project, timeline and likely impact on the community • General training on ISO 20022 and specific training on implications of the Canadian Payments ISO20022 project Technical infrastructure review Solution design • Review current infrastructure impact and capacity against future needs • Assess technical changes to be implemented (effort and roadmap) • Evaluate Back-Office integration possibilities Testing / Go-Live Project Management • Single point of contact at SWIFT throughout the whole project • Implement new flows, patches, configurations or upgrades on impacted SWIFT infrastructure elements • Develop, test and implement Integration solution • Testing services to ensure readiness and compliance • Assist during and after go-live
  • 31. Where to find more info…. SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 32. SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022
  • 33. SWIFT Business Forum Canada 2014 – SWIFT & ISO 20022