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What are over 1000 corporatesdoing over SWIFT?Canadian Business ForumApril 8, 2013
Agenda• Introductions• Industry Requirements• Key considerations for corporates implementing SWIFT  – Corporates on SWIFT ...
Introductions• Gino DiPaolo, Group Product Manager, Cash  Management Solutions, Global Transaction Banking,  CIBC• Stacy R...
Responding to Industry Requirements                                  Secure                               connectivity to ...
How can SWIFT help you to:  Provide visibility     Optimize        Reduce cost      to cash          working capital     a...
Key considerationsFor Corporates implementing SWIFTBank Readiness                                Common Implementations• W...
Corporates on SWIFTWhere do we stand today ?  # registered corporate entities     Geographical split                      ...
Profile of SWIFT registered corporatesOver 1000 corporates are connected                           21–40 BGs              ...
FIN traffic: Annual growth 20,3%Total FIN traffic exchanged by corporates (TRCO, MA-CUG, SCORE)# 000 messages (live and pi...
FileAct files: Annual growth> 50%FileAct traffic exchanged by corporates excl. sent Lite-traffic# 000 files (live and pilo...
Bank readiness certification programmeIn a nutshell  Online publication of banks ready to offer connectivity to  Corporate...
Bank readiness certification programmePublished on www.swift.com/corporates/                                         12
Bank readiness certification programmeStatus                                      So far 43                               ...
Implementing SWIFT for Corporates with        Your Bank for Cash Management        SolutionsSWIFT Business Forum - Canada ...
Why are Corporates moving to CIBC for SWIFT   Clients are adopting SWIFT in order to:     Centralize financial processes ...
SWIFT File Transfer Flow ComparisonCurrently Corporate to Bank Interfaces                                Moving to a SWIFT...
Your Pre-Implementation/Migration ChecklistSuccessful implementations rely on good planningand engagement by all key stake...
Your Pre-Implementation/Migration Checklist   1. Define Your Goals     Manage cashflow by centralizing information feed f...
Your Pre-Implementation/Migration Checklist  2. Identify Areas to Standardize      Treasury Management      Account Tran...
Your Pre-Implementation/Migration Checklist3a. Meet Internal Stakeholders to IdentifyDepartment NeedsParties to Engage  T...
Your Pre-Implementation/Migration Checklist3b. Meet Internal Stakeholders to IdentifyDepartment NeedsAccount Transaction R...
Your Pre-Implementation/Migration Checklist3c. Meet Internal Stakeholders to IdentifyDepartment Needs Payment Processing N...
Your Pre-Implementation/Migration Checklist4. Evaluate/Select SWIFT Connectivity Option orProviderDirect connection       ...
Your Pre-Implementation/Migration Checklist5. Select Message Types and Formats Prior and Current Day Account Reporting   ...
Your Pre-Implementation/Migration Checklist6. Meet with Banking Partners   Record and communicate your business requireme...
Implementation and On-boarding Services Offered by CIBCServices CIBC offers:Pre-implementation Sales Support Thorough nee...
Common Global Implementation (CGI)Mission and objective• Provides a forum for financial institutions and non-financial  in...
Expanding portfolioResponding to industry requirements    Alliance Lite 2                                3SKey – SWIFT Sec...
Q&A      ?SWIFT Business Forum - Canada 8 April 2013   29
Thank you!             30
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Cbf2013.1000 corporates.final

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Cbf2013.1000 corporates.final

  1. 1. What are over 1000 corporatesdoing over SWIFT?Canadian Business ForumApril 8, 2013
  2. 2. Agenda• Introductions• Industry Requirements• Key considerations for corporates implementing SWIFT – Corporates on SWIFT – Where do we stand today? – Bank readiness• CIBC perspective – Implementing SWIFT for Corporates• Common Global Implementation (CGI)• Expanding Portfolio• Q&A 2
  3. 3. Introductions• Gino DiPaolo, Group Product Manager, Cash Management Solutions, Global Transaction Banking, CIBC• Stacy Rosenthal, Senior Business Manager, Banking & Corporate Initiatives, SWIFT, Americas 3
  4. 4. Responding to Industry Requirements Secure connectivity to banks Automation/ STP Simplified Implementation Bank agnostic solutions Risk mitigation/ Tighter controls Low TCO Best of breed technology 4
  5. 5. How can SWIFT help you to: Provide visibility Optimize Reduce cost to cash working capital and risk 5
  6. 6. Key considerationsFor Corporates implementing SWIFTBank Readiness Common Implementations• What are the banks capabilities? • What standards are supported?• Are the capabilities available across all • Can I implement the same standard regions? across banks and regions?• Do the banks have staff that are • Why is my bank using their own ‘version’ knowledgeable about SWIFT? of the standard?• Is there a dedicated implementation • How do I prepare my teams for these team? variations? 6
  7. 7. Corporates on SWIFTWhere do we stand today ? # registered corporate entities Geographical split 1035 902 726 579 402 2008 2009 2010 2011 2012 7
  8. 8. Profile of SWIFT registered corporatesOver 1000 corporates are connected 21–40 BGs 40+ BGs 5% 1% $1-10Bn >$10Bn 11–20 BGs 28% 31% 14% 1–5 BGs 6–10 BGs 55% 25% <$1Bn 41% Corporates by Corporates by Annual Turnover (USD) Number Banking SWIFT Business Forum - 8 Canada 8 April
  9. 9. FIN traffic: Annual growth 20,3%Total FIN traffic exchanged by corporates (TRCO, MA-CUG, SCORE)# 000 messages (live and pilot) Received by corporates 13,300 Sent by corporates 12,312 11,778 11,054 11,249 +8% +4.5% +4.7% +1.8% 10,703 9,796 9,334 8,809 8,880 2,245 2,369 2,444 2,516 2,597 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Annual growth (Q4 ’11 vs. Q4 ’12): 20,3% 9
  10. 10. FileAct files: Annual growth> 50%FileAct traffic exchanged by corporates excl. sent Lite-traffic# 000 files (live and pilot) 2,866 Received by corporates 2,640 Sent by corporates +8.6% 2,294 2,106 +15.1% 1,838 +8.9% 1,940 +14.6% 1,830 1,567 1,441 1,268 810 926 665 727 570 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Annual growth (Q4 ’11 vs. Q4 ’12): 55,9% 10
  11. 11. Bank readiness certification programmeIn a nutshell Online publication of banks ready to offer connectivity to Corporates over SWIFT Assessment based on a set of criteria : 2 levels • Mandatory criteria (to be met to be certified) • Optional (additional capabilities can be published) 2 dimensions : operational and commercial criteria Granularity at country level (bank A ready in country X) Self-declaration from the bank Free of charge 11
  12. 12. Bank readiness certification programmePublished on www.swift.com/corporates/ 12
  13. 13. Bank readiness certification programmeStatus So far 43 banking groups Very good certified feedback from Certification Rolled out end banks: “gratified started in • 569 branches, 2010 covering 117 to be listed”, January 2011 countries “feeling the peer-pressure” 13
  14. 14. Implementing SWIFT for Corporates with Your Bank for Cash Management SolutionsSWIFT Business Forum - Canada 8 April 2013 Privileged and Confidential
  15. 15. Why are Corporates moving to CIBC for SWIFT Clients are adopting SWIFT in order to:  Centralize financial processes to one communication channel  Improve automation and straight-through processing  Lower infrastructure costs  Streamline file transfer for multi-bank relationships  Reduce infrastructure costs and simplify auditing processes by operating one single communication platform  Reduce operational risk with SWIFT’s guarantee of delivery SWIFT Business Forum - Canada 8 April 2013 15
  16. 16. SWIFT File Transfer Flow ComparisonCurrently Corporate to Bank Interfaces Moving to a SWIFT SingleLook Like This Standardized Multibank Gateway Corporate Various Financial Institutions Corporate CIBC CIBC Secure Payable Transfer Payable host to host X Receivable FI (2) Other FI Receivable Leased Treasury e-z banking Y line Treasury FI (3) Standardised gateway Other Internet Other e-banking Z Other FIs SWIFT Business Forum - Canada 8 April 2013 16
  17. 17. Your Pre-Implementation/Migration ChecklistSuccessful implementations rely on good planningand engagement by all key stakeholdersSteps Corporates Need to Take: 1. Define Your Goals 2. Identify Areas to Standardize 3. Meet Internal Stakeholders to Identify Department Needs 4. Evaluate/Select SWIFT Connectivity Option or Provider 5. Select Message Types and Formats 6. Meet with Banking Partners SWIFT Business Forum - Canada 8 April 2013 17
  18. 18. Your Pre-Implementation/Migration Checklist 1. Define Your Goals  Manage cashflow by centralizing information feed from and to my ERP  Reduce costs by streamlining file transfer to multiple banks  Simplify auditing processes through unattended transmission  Automate and standardize transmission of account reporting services and payments  Reduce operational risk through one secure protocol SWIFT Business Forum - Canada 8 April 2013 18
  19. 19. Your Pre-Implementation/Migration Checklist 2. Identify Areas to Standardize  Treasury Management  Account Transaction Reconciliation  Accounts Payables and Payroll Disbursements  Accounts Receivables SWIFT Business Forum - Canada 8 April 2013 19
  20. 20. Your Pre-Implementation/Migration Checklist3a. Meet Internal Stakeholders to IdentifyDepartment NeedsParties to Engage  Treasury, A/R, A/P, Payroll  Risk Management  Compliance  Audit  Technology  Project Management  HR- Staffing SWIFT Business Forum - Canada 8 April 2013 20
  21. 21. Your Pre-Implementation/Migration Checklist3b. Meet Internal Stakeholders to IdentifyDepartment NeedsAccount Transaction Reporting & ReceivablesReconciliation  Identify formats your new/existing TMS can import/ingest  Prior and/or Current Day reporting required?  Prioritize areas to implement/migrate on SWIFT CIBC Reporting Other FI • Prior Day • Current Day • Lockbox • Payment Status • Paid Cheques Other FI • EDI Receiving SWIFT Business Forum - Canada 8 April 2013 21
  22. 22. Your Pre-Implementation/Migration Checklist3c. Meet Internal Stakeholders to IdentifyDepartment Needs Payment Processing Needs  Formats produced by your new/existing payment system  Prioritize payments to implement/migrate on SWIFT  Record Payment Types to Send to Each FI based on:  Payable/Receivable Type  Destination Country  Currency  Priority CIBC Payments Other FI • EFT • ACH • Wires • EDI • Cheques Other FI SWIFT Business Forum - Canada 8 April 2013 22
  23. 23. Your Pre-Implementation/Migration Checklist4. Evaluate/Select SWIFT Connectivity Option orProviderDirect connection VP VPN CIBC N(Customer Owned Solution)Global corporate Network partnersMillions payments/yearManage their own SWIFT connectionIndirect connection Internet VP N CIBC(Outsourced Solution) or VPNLarge corporateHundred thousands payments/year Service BureauOutsource SWIFT connectionAlliance Lite2 Web server(Internet Solution) Internet Work flow CIBCMid to Large corporate SWIFT AllianceSimple solution Hosted and Managed by SWIFT SWIFT Ready Service Bureaus http://www.swift.com/partners/locator/index.page?panel=3. SWIFT Business Forum - Canada 8 April 2013 23
  24. 24. Your Pre-Implementation/Migration Checklist5. Select Message Types and Formats Prior and Current Day Account Reporting  SWIFT MT940, MT941, MT942  XML ISO 20022 camt  BAI  X12  ERP and Bank Proprietary Formats Receivable Reconciliation  SWIFT MT910  XML ISO 20022 camt  BAI  X12  ERP and Bank Proprietary Formats Credit and Debit Payments  SWIFT MT101 and MT104  XML ISO 20022 pain  X12  ERP and Bank Proprietary Formats SWIFT Business Forum - Canada 8 April 2013 24
  25. 25. Your Pre-Implementation/Migration Checklist6. Meet with Banking Partners Record and communicate your business requirements  Day to day treasury procedures explained  Connectivity channels effected  Account reconciliation needs  Payment initiation needs  Receivables management needs Review bank client on-boarding offering  List new products to be implemented over SWIFT  List existing products to be migrated to SWIFT  Detail implementation and legal documents to be completed  Discuss timeline requirements  Identify corporate and bank contacts  Set dates for subsequent meetings with other business and technology contacts SWIFT Business Forum - Canada 8 April 2013 25
  26. 26. Implementation and On-boarding Services Offered by CIBCServices CIBC offers:Pre-implementation Sales Support Thorough needs analysis to ensure customer requirements are understood Record requirements Formulate list bank product and channel services Respond to any technical questions Work with Sales Relationship Manager to prepare Implementation Forms andLegal AgreementsTechnical Implementation Support Assign an implementation project manager to oversee customer on-boardingprocess Create Detailed Implementation Plan Contact client business and technical users to review plan and confirm plan dates Set up and test the SWIFT channel connectivity Provide product and format technical support during set up Work with Client to perform end to end file testing Ensure a smooth transition to production SWIFT Business Forum - Canada 8 April 2013 26
  27. 27. Common Global Implementation (CGI)Mission and objective• Provides a forum for financial institutions and non-financial institutions to progress various corporate-to-bank implementation topics on the use of ISO 20022 messages and other related activities in the payments domain• Promote wider acceptance of ISO20022 as the common XML standard used between corporates and banks• Agree one common global implementation for ISO20022 messages – Common implementation templates for relevant ISO 20022 financial message• Simplify corporate implementations structure for all their payments with“A corporate can use the same messageall of their transaction banks reaching any payment system across the globe” 27
  28. 28. Expanding portfolioResponding to industry requirements Alliance Lite 2 3SKey – SWIFT Secure Signature • Cloud based connectivity Key • Supporting all types of SWIFT messages and files • Multi bank signing & authentication • Live since Q3 2012 • Over 32 subscribers in 65 countries • 50 vendors have ordered the toolkit EBAM SWIFTRef • Electronic bank account management • SWIFT’s reference data service. • Live since Q2 2010 • Identification and validation of BICs, IBANs, • Focus on bank, vendor and corporate national bank codes, standing settlement operational readiness instructions, SEPA routing information eStatements BPO/TSU • Automating end of month/period bank • Automating trade and supply chain flows statements over FileAct 28
  29. 29. Q&A ?SWIFT Business Forum - Canada 8 April 2013 29
  30. 30. Thank you! 30

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