An introduction to SWIFT gpi

1. 1
SWIFT Global Payments Innovation
Eric YANG
Director, China Markets & Initiatives
Asia Pacific
SWIFT
Wim GROSEMANS
Head of Product Management
International Payments & Local Offer EMEA
Cash Management – BNP Paribas

2. When performing cross border payments you may experience:
Delays & ErrorsUnclear
Status
Unexpected
Fees
Due to friction across banks/market infrastructures/regulators/geographies
2

3. MT103
Correspondent
bank of BNPP
for the currency
Correspondent
bank to the
beneficiary bank
MT103
Ordering party BeneficiaryDebtor bank Beneficiary bank
Local or global
format
Risk of truncation
Spot the single point of failure
Clearing House
(Chips, Fedwire,…)
Risk of truncation
3

4. What if you could transfer your money:
In a seamless and instant way
Across geographies
No matter the currency or the country ?
Keep reaching for the ultimate payments experience… step by step!
4

5. Yes, there is a burning platform… for all of us
Source: SWIFT 5

6. SWIFT global payments innovation ?
Transparency on fees
Same day use of funds
Track and trace
Full payment information
Address priority features in the client experience… FAST!
6

7. Accessible
by any bank
Reaching
any bank
Still reach
non-initiative
banks
Tracker
Directory Observer
SLA rulebook
Core transaction banks
Value-added product suite
Messaging technologies
Source: SWIFT
Key principles of SWIFT gpi
7

8. The tracker: a key feature
Bank A Bank BOriginator BeneficiaryBank C
MT199/API
101 > 103 > 103 > 910 >
MT199/API MT199/API
“One-glance”
status overview
Track path,
in real time
Details of banks along the
chain
Transparency of total fees and time
Unique, end-end tracking number
Bank D
103 >
MT199/API
Source: SWIFT
8

9. BNP Paribas is not the only active supporter of SWIFT gpi
Source: SWIFT
* Pilot bank
9

10. Organizational set-up
Vision Group Pilot/User Group Initiative Group
• Promote gpii
• Provide feedback into
collaborative design
• Leader in global payments
innovation
• Pilot gpii
• Participate in iterative
design and testing
• Be early adopter
• Craft long term vision
correspondent
banking
• Develop strategic
roadmap
10

11. Digital value added services on top of this backbone beyond 2017
Corporate involvement is indispensable
Co-creation
Request for Payments
Rich Payment Information
International Payment Assistant
Request for cancellation
11