The document discusses the growing adoption of SWIFT (Society for Worldwide Interbank Financial Telecommunication) by corporate users for financial transactions. It describes how SWIFT provides a highly secure global network that connects banks and allows corporates to integrate their treasury and business systems. A new SWIFT access model called MM CUG (many-to-many closed user group) is proposed to simplify the process for corporates to join SWIFT and communicate directly with multiple partner banks through a single connection. Implementing SWIFT for a corporate requires defining the scope, ensuring interoperability with existing IT infrastructure, and addressing challenges around systems integration.
Swift society worldwideinterbankfinancialtelecommunicationVogelDenise
SWIFT is a cooperative society owned by member financial institutions that operates a global financial messaging network. It exchanges secure messages between banks and other financial institutions, allowing them to communicate payment orders and other transaction messages. SWIFT links over 9,000 financial institutions in 209 countries and territories, exchanging an average of over 15 million messages per day. While SWIFT transmits payment orders, it does not facilitate funds transfers or perform clearing or settlement functions.
The document provides an overview of SWIFT (Society for Worldwide Interbank Financial Telecommunications). Key points include:
- SWIFT is a co-operative society that operates a global financial messaging network for banks and other financial institutions.
- It was formed in 1974 when major banks discussed replacing Telex, which had limitations regarding speed, format, and security of financial messages.
- Today SWIFT connects over 11,000 institutions in over 200 countries and territories.
- SWIFT provides standards for financial message formats and network infrastructure to facilitate secure transmission of payment and other messages.
SwiftNET is a messaging network owned and operated by the Society for Worldwide Interbank Financial Telecommunications (SWIFT). It allows financial institutions to securely transmit standardized financial messages. The network has transitioned from using older telecommunication systems to a packet switched network and now uses a secure IP network architecture with multiple vendors. SwiftNET provides four core messaging services - FIN for payment messages, InterACT for interactive exchanges, FileACT for file transfers, and Browse for secure web access.
This document provides an overview of integrated small cell Wi-Fi (ISW) networks and trusted WLAN architectures. It summarizes the results of an industry survey on ISW networks that found the greatest perceived benefit is providing local enterprise services. It then describes the TWAN architecture, focusing on key interfaces like ISW1, ISW2, and ISW3, and analyzing tunneling options. Finally, it discusses deployment considerations for TWANs such as encryption methods and coexistence with Hotspot 2.0 architectures.
This white paper outlines how the functionality provided by Transformer from Trace Financial can greatly assist in managing the difficulties of integrating diverse and complex message
standards, with specific relevance to SWIFT message handling.
AVM's thinAir is a mobile application and media platform that connects physical media like displays and signs directly to mobile phones using near-field communication (NFC) technology. Consumers can access content, data, coupons, and more simply by touching their phone to NFC tags embedded in media. This allows advertising, transactions, wayfinding and other information to be shared interactively between physical and mobile worlds. ThinAir tracks consumer interactions for analytics and integrates with existing standards and technologies used in retail, payments, and advertising.
The document discusses the GSMA, a trade group representing mobile operators. It summarizes the GSMA's history and growth. Next, it outlines trends facing mobile operators like increasing video traffic and new services, as well as regulatory influences. To address these challenges, the document recommends strategies like obtaining more spectrum, network sharing, Wi-Fi roaming, and new offload and caching models. Finally, it argues that LTE presents both threats and opportunities, and that operators should embrace changes to prepare for the future.
Swift society worldwideinterbankfinancialtelecommunicationVogelDenise
SWIFT is a cooperative society owned by member financial institutions that operates a global financial messaging network. It exchanges secure messages between banks and other financial institutions, allowing them to communicate payment orders and other transaction messages. SWIFT links over 9,000 financial institutions in 209 countries and territories, exchanging an average of over 15 million messages per day. While SWIFT transmits payment orders, it does not facilitate funds transfers or perform clearing or settlement functions.
The document provides an overview of SWIFT (Society for Worldwide Interbank Financial Telecommunications). Key points include:
- SWIFT is a co-operative society that operates a global financial messaging network for banks and other financial institutions.
- It was formed in 1974 when major banks discussed replacing Telex, which had limitations regarding speed, format, and security of financial messages.
- Today SWIFT connects over 11,000 institutions in over 200 countries and territories.
- SWIFT provides standards for financial message formats and network infrastructure to facilitate secure transmission of payment and other messages.
SwiftNET is a messaging network owned and operated by the Society for Worldwide Interbank Financial Telecommunications (SWIFT). It allows financial institutions to securely transmit standardized financial messages. The network has transitioned from using older telecommunication systems to a packet switched network and now uses a secure IP network architecture with multiple vendors. SwiftNET provides four core messaging services - FIN for payment messages, InterACT for interactive exchanges, FileACT for file transfers, and Browse for secure web access.
This document provides an overview of integrated small cell Wi-Fi (ISW) networks and trusted WLAN architectures. It summarizes the results of an industry survey on ISW networks that found the greatest perceived benefit is providing local enterprise services. It then describes the TWAN architecture, focusing on key interfaces like ISW1, ISW2, and ISW3, and analyzing tunneling options. Finally, it discusses deployment considerations for TWANs such as encryption methods and coexistence with Hotspot 2.0 architectures.
This white paper outlines how the functionality provided by Transformer from Trace Financial can greatly assist in managing the difficulties of integrating diverse and complex message
standards, with specific relevance to SWIFT message handling.
AVM's thinAir is a mobile application and media platform that connects physical media like displays and signs directly to mobile phones using near-field communication (NFC) technology. Consumers can access content, data, coupons, and more simply by touching their phone to NFC tags embedded in media. This allows advertising, transactions, wayfinding and other information to be shared interactively between physical and mobile worlds. ThinAir tracks consumer interactions for analytics and integrates with existing standards and technologies used in retail, payments, and advertising.
The document discusses the GSMA, a trade group representing mobile operators. It summarizes the GSMA's history and growth. Next, it outlines trends facing mobile operators like increasing video traffic and new services, as well as regulatory influences. To address these challenges, the document recommends strategies like obtaining more spectrum, network sharing, Wi-Fi roaming, and new offload and caching models. Finally, it argues that LTE presents both threats and opportunities, and that operators should embrace changes to prepare for the future.
Este documento descreve um edital de concurso público para preenchimento de vagas na Câmara Municipal de Caxias do Sul no Rio Grande do Sul. O concurso será realizado pela empresa Objetiva Concursos e oferece vagas para Assistente de Informática, Oficial Técnico Legislativo e Técnico em Contabilidade.
Financial i: Roundtable Corporate SWIFT AccessDirk Braun
The roundtable discussed the strategic importance of SWIFTNet corporate access for banks and corporates. For banks, it provides an opportunity to differentiate themselves and offer additional services like payment tracking and reporting. Corporates are establishing SWIFT connectivity to centralize global treasury operations in "payment factories" and achieve standardized access to banks worldwide. SWIFT access allows corporates to streamline payments across subsidiaries, reduce technical interfaces, and gain better control and visibility for SOX compliance. Participants shared how their organizations have implemented SWIFT to realize cost savings and efficiencies.
El documento proporciona información sobre Repaveca, una empresa dedicada al reciclaje de papel y cartón en Venezuela durante más de 50 años. La empresa recoge estos materiales para evitar que se conviertan en contaminantes y, en su lugar, los convierte en empleos y riqueza. También describe algunos de los problemas ambientales causados por la basura, como la contaminación de ríos, playas y mares, y los riesgos para la salud que esto puede generar.
The document provides instructions for teachers on how to sign into their Sturgis Site, manage their site by adding and editing calendar events, and then view the finished calendar on their teacher website. It outlines the steps to sign in, access the site manager, use the calendar tools to create, modify, and delete events, and ensure the calendar is viewable on the teacher site. The calendar tools allow teachers to organize their schedules and share important dates and activities with students and parents.
New York Interagency Engineering CouncilJoeMacCostEst
The New York Interagency Engineering Council (NYIEC) is a non-profit organization of Public City, State, Regional and Federal Agencies and Public Utilities
Membership is Open to all Public Agencies and Public Utilities
There are currently sixteen (16) Member Organizations and We Are Actively Seeking to Expand Our Membership in the New York City Area
This PowerPoint covers different weather fronts and severe weather. It includes sections on fronts like cold fronts, warm fronts, and occluded fronts. It describes different types of severe weather such as thunderstorms, lightning, tornadoes, and hurricanes. It contains activities to practice predicting weather and quizzes to test understanding of fronts and severe weather. The goal is to help students learn about these topics for an upcoming chapter test.
This document provides instructions for teachers and students to access and submit assignments online. It explains how to access the inbox and outbox folders on the network drive to find and submit assignments. Teachers can create folders for each class period and students to submit assignments, while students can copy assignments from the outbox folder to view tasks. The process allows for online assignment distribution and collection.
Music Mountain was founded in 1930 to educate through chamber music performances. When the founder approached Sears for assistance building a concert hall and housing, Sears shipped pre-cut materials for Gordon Hall, the performance center, and several homes - representing one of only a few times Sears designed a building for cultural purposes. The standardized, prefabricated construction helped realize the vision affordably and efficiently through Sears' mail-order house program, demonstrating how pre-manufactured homes could serve new applications beyond residential.
The document provides tips for conducting teleconferences and videoconferences. It discusses preparing for the meeting by booking the necessary equipment like bridge lines in advance, setting up the videoconferencing environment, and ensuring all equipment is working properly. Etiquette tips for the actual meeting are also mentioned, such as sending meeting invites and rescheduling if key participants cannot attend. The document concludes by thanking participants.
The document defines key population terms and provides context about Pakistan's population. It discusses that Pakistan has a high population growth rate of 1.6% annually and an estimated population of over 170 million as of 2010, making it the 6th most populous country. It also summarizes Pakistan's population policy which aims to reduce growth rates through family planning initiatives, but faces challenges from social and cultural factors. Historical population data is presented showing Pakistan's population has increased over fourfold since 1951.
This document defines personal media as private individuals using media technologies to create and share personal expressions through digital networks, such as mobile phones, email, and photo sharing services. It contrasts personal media with mass media, which provides generally accessible information. The document then discusses the history of personal media and how digitalization has made media more multi-functional, with the same technologies serving both personal and mass communication purposes. It also reviews some models for conceptualizing personal versus mass media, including in terms of interactional roles and network structures.
A light weight payment middleware that could help enterprise payment initiating systems (CBS or otherwise) to integrate with NEFT, RTGS, SWIFT, and other wide SFMS based financial networks. Helps achieve STP with no or less manual intervention.
A light weight payment middleware that could help enterprise payment initiating systems (CBS or otherwise) to integrate with NEFT, RTGS, SWIFT, and other wide SFMS based financial networks. Helps achieve STP with no or less manual intervention.
Digital Transformation in Market Data and Trading PlatformsSolace
Digital transformation requires adopting a new approach to doing business that is always sensing and ready to change. The document discusses how traditional market data and trading platforms have inefficient spaghetti connections that are difficult to manage and perform poorly. It then proposes adopting a "market data mesh" architecture using an event mesh to connect systems simply and at scale across hybrid cloud environments. This would create an open and global market data platform. The remainder of the document discusses how Solace technology could be used to build an innovative distributed trading platform for the China Foreign Exchange Trade System to modernize China's financial system and interbank markets.
Whitepaper: Mobile Networks in a smart digital future - deploying a platform ...Petr Nemec
The document discusses Siemens' platform for supporting Internet of Things (IoT) and Narrowband IoT (NB-IoT) networks. It describes the growth of IoT and the need for specialized core network functionality to handle the diverse communication needs of IoT devices. The Siemens platform provides standards-compliant implementations of Service Capability Exposure Function (SCEF), Machine Type Communication Interworking Function (MTC-IWF), and MTC Authentication, Authorization and Accounting (MTC-AAA) to securely interface IoT/MTC applications with cellular networks. It also features scalability, redundancy and virtualization.
BizDay: Marco Polo: Making Trade Finance Smarter, More Transparent & Better C...R3
The Marco Polo Network is a collaborative network of bank platforms that are connected to corporate clients through trade and working capital finance applications embedded within enterprise resource planning (ERP) systems. The network aims to create a better customer experience and more seamless data integration while reducing costs, time, and risk. It is powered by open application programming interfaces and Coda blockchain technology. The network provides a single interface for banks to deliver various trade and working capital finance solutions and services to corporate clients.
Este documento descreve um edital de concurso público para preenchimento de vagas na Câmara Municipal de Caxias do Sul no Rio Grande do Sul. O concurso será realizado pela empresa Objetiva Concursos e oferece vagas para Assistente de Informática, Oficial Técnico Legislativo e Técnico em Contabilidade.
Financial i: Roundtable Corporate SWIFT AccessDirk Braun
The roundtable discussed the strategic importance of SWIFTNet corporate access for banks and corporates. For banks, it provides an opportunity to differentiate themselves and offer additional services like payment tracking and reporting. Corporates are establishing SWIFT connectivity to centralize global treasury operations in "payment factories" and achieve standardized access to banks worldwide. SWIFT access allows corporates to streamline payments across subsidiaries, reduce technical interfaces, and gain better control and visibility for SOX compliance. Participants shared how their organizations have implemented SWIFT to realize cost savings and efficiencies.
El documento proporciona información sobre Repaveca, una empresa dedicada al reciclaje de papel y cartón en Venezuela durante más de 50 años. La empresa recoge estos materiales para evitar que se conviertan en contaminantes y, en su lugar, los convierte en empleos y riqueza. También describe algunos de los problemas ambientales causados por la basura, como la contaminación de ríos, playas y mares, y los riesgos para la salud que esto puede generar.
The document provides instructions for teachers on how to sign into their Sturgis Site, manage their site by adding and editing calendar events, and then view the finished calendar on their teacher website. It outlines the steps to sign in, access the site manager, use the calendar tools to create, modify, and delete events, and ensure the calendar is viewable on the teacher site. The calendar tools allow teachers to organize their schedules and share important dates and activities with students and parents.
New York Interagency Engineering CouncilJoeMacCostEst
The New York Interagency Engineering Council (NYIEC) is a non-profit organization of Public City, State, Regional and Federal Agencies and Public Utilities
Membership is Open to all Public Agencies and Public Utilities
There are currently sixteen (16) Member Organizations and We Are Actively Seeking to Expand Our Membership in the New York City Area
This PowerPoint covers different weather fronts and severe weather. It includes sections on fronts like cold fronts, warm fronts, and occluded fronts. It describes different types of severe weather such as thunderstorms, lightning, tornadoes, and hurricanes. It contains activities to practice predicting weather and quizzes to test understanding of fronts and severe weather. The goal is to help students learn about these topics for an upcoming chapter test.
This document provides instructions for teachers and students to access and submit assignments online. It explains how to access the inbox and outbox folders on the network drive to find and submit assignments. Teachers can create folders for each class period and students to submit assignments, while students can copy assignments from the outbox folder to view tasks. The process allows for online assignment distribution and collection.
Music Mountain was founded in 1930 to educate through chamber music performances. When the founder approached Sears for assistance building a concert hall and housing, Sears shipped pre-cut materials for Gordon Hall, the performance center, and several homes - representing one of only a few times Sears designed a building for cultural purposes. The standardized, prefabricated construction helped realize the vision affordably and efficiently through Sears' mail-order house program, demonstrating how pre-manufactured homes could serve new applications beyond residential.
The document provides tips for conducting teleconferences and videoconferences. It discusses preparing for the meeting by booking the necessary equipment like bridge lines in advance, setting up the videoconferencing environment, and ensuring all equipment is working properly. Etiquette tips for the actual meeting are also mentioned, such as sending meeting invites and rescheduling if key participants cannot attend. The document concludes by thanking participants.
The document defines key population terms and provides context about Pakistan's population. It discusses that Pakistan has a high population growth rate of 1.6% annually and an estimated population of over 170 million as of 2010, making it the 6th most populous country. It also summarizes Pakistan's population policy which aims to reduce growth rates through family planning initiatives, but faces challenges from social and cultural factors. Historical population data is presented showing Pakistan's population has increased over fourfold since 1951.
This document defines personal media as private individuals using media technologies to create and share personal expressions through digital networks, such as mobile phones, email, and photo sharing services. It contrasts personal media with mass media, which provides generally accessible information. The document then discusses the history of personal media and how digitalization has made media more multi-functional, with the same technologies serving both personal and mass communication purposes. It also reviews some models for conceptualizing personal versus mass media, including in terms of interactional roles and network structures.
A light weight payment middleware that could help enterprise payment initiating systems (CBS or otherwise) to integrate with NEFT, RTGS, SWIFT, and other wide SFMS based financial networks. Helps achieve STP with no or less manual intervention.
A light weight payment middleware that could help enterprise payment initiating systems (CBS or otherwise) to integrate with NEFT, RTGS, SWIFT, and other wide SFMS based financial networks. Helps achieve STP with no or less manual intervention.
Digital Transformation in Market Data and Trading PlatformsSolace
Digital transformation requires adopting a new approach to doing business that is always sensing and ready to change. The document discusses how traditional market data and trading platforms have inefficient spaghetti connections that are difficult to manage and perform poorly. It then proposes adopting a "market data mesh" architecture using an event mesh to connect systems simply and at scale across hybrid cloud environments. This would create an open and global market data platform. The remainder of the document discusses how Solace technology could be used to build an innovative distributed trading platform for the China Foreign Exchange Trade System to modernize China's financial system and interbank markets.
Whitepaper: Mobile Networks in a smart digital future - deploying a platform ...Petr Nemec
The document discusses Siemens' platform for supporting Internet of Things (IoT) and Narrowband IoT (NB-IoT) networks. It describes the growth of IoT and the need for specialized core network functionality to handle the diverse communication needs of IoT devices. The Siemens platform provides standards-compliant implementations of Service Capability Exposure Function (SCEF), Machine Type Communication Interworking Function (MTC-IWF), and MTC Authentication, Authorization and Accounting (MTC-AAA) to securely interface IoT/MTC applications with cellular networks. It also features scalability, redundancy and virtualization.
BizDay: Marco Polo: Making Trade Finance Smarter, More Transparent & Better C...R3
The Marco Polo Network is a collaborative network of bank platforms that are connected to corporate clients through trade and working capital finance applications embedded within enterprise resource planning (ERP) systems. The network aims to create a better customer experience and more seamless data integration while reducing costs, time, and risk. It is powered by open application programming interfaces and Coda blockchain technology. The network provides a single interface for banks to deliver various trade and working capital finance solutions and services to corporate clients.
Technology Review | In Focus: Next Generation Service ManagementComarch
Published twice a year, Comarch Technology Review (Telecom Edition) provides expert commentary and analysis on current trends shaping the telecommunications market, as well as insight on how to solve problems most commonly faced by telecom operators
Entrepreneurship Strategies and Business Opportunities in Future Cities - CEL...Future Cities Project
CELFOCUS is a technology company that has been providing critical systems to telecommunications companies since 2000. It has extensive experience developing business support systems, unified communications, machine-to-machine, and operations support systems. Currently CELFOCUS has over 700 consultants working on projects in Europe, the Middle East, and Africa, and generated €42 million in revenue in 2014, with 68% from international projects. The document discusses CELFOCUS's work with Vodafone on machine-to-machine platforms and outlines some of the challenges and opportunities in connecting billions of devices through emerging Internet of Things technologies.
DLT - Key industry requirements for an industry-wide platform by Fabian Vande...FinTech Belgium
DLT has the potential to bring efficiencies to the financial industry through information propagation, full traceability, simplified reconciliation, and high resiliency on a trusted distributed system. However, significant R&D is still needed to meet the industry's requirements before DLTs can be widely adopted at scale. SWIFT has been conducting customer meetings, developing an open source permissioned DLT platform, and a bond lifecycle proof of concept to advance DLT capabilities and standards. SWIFT's objective is to evolve its platform to offer DLT-based services to its members when the technology matures and firm use cases emerge.
The document discusses how enterprise networks are facing increasing demands and complexity due to the growing variety of devices accessing them, including smartphones, tablets, and machine-to-machine devices. This poses challenges for CIOs in managing network traffic and costs. However, an intelligent network that can adapt to users' needs can help CIOs satisfy users while focusing on innovation. Such a network is described as being able to distribute content efficiently, enable application development, and anticipate future business requirements. This could allow the CIO to take on more strategic roles rather than getting bogged down in projects.
This document summarizes an e-book from a blog that provides strategic insights for telecommunications companies. It discusses the utility of software-defined networking (SDN) for telcos, how telcos can organize to offer new services and pursue growth, and the growth of SDN and network function virtualization in the telecommunications industry. The document outlines the business case and technical capabilities of SDN, as well as case studies of companies adopting SDN and market projections for SDN adoption and revenue. It also discusses how telcos can transform their business models and organizations, like IBM did, to focus more on new services.
If CSPs want to live in "the best of times" after automating and virtualizing their network, they will turn their attention to virtualized value-add services distribution and their supporting managed services as new streams of revenue.
Ripple is an open payment protocol that enables real-time payments between financial institutions. It allows banks and payment providers to send money globally, typically in seconds or less, with end-to-end transparency. Ripple provides a decentralized peer-to-peer network and consensus ledger for interbank transactions. Financial institutions can lower costs by using pre-funded accounts and eliminating fees from intermediaries.
Distributed NFV: Ensuring that the Benefits of Virtualization Exceed the CostsNir Cohen
Dr. Yuri Gittik is taking a closer look at the different approaches to implement NFV solutions is carrier networks, the advantages and disadvantages of each approach and how these approaches are affecting the implementation costs.
The document discusses the path from 4G to 5G networks and the role of small cell densification. It identifies that network densification through small cells is fundamental to achieving 5G capabilities like higher capacity, lower latency and 100% coverage. The Small Cell Forum has been working to address barriers to densification through research on topics like deployment processes, interoperability, and new business models. Going forward, their work will focus on commercializing hyperdense heterogeneous networks and enabling the digitized enterprise through solutions for verticals like hospitality.
White Paper - Delivering on the IoT Experience - The HPE Universal IoT Platfo...Gary Wood
The document provides an overview of the HPE Universal IoT Platform, which is designed to address long-term IoT requirements. It allows for connection and information exchange between heterogeneous IoT devices and applications. The platform reduces dependency on legacy silo solutions and simplifies integrating diverse devices. It provides federation for device and service management and data acquisition/exposure. Key modules include device and service management, network interworking proxy, data acquisition and verification, data analytics, OSS/BSS, and data service cloud. The platform aims to enable monetization of IoT-generated data through delivering value to enterprise applications.
What are decentralised communications and why we need it, Anastasius Gavras, ...Alan Quayle
What are decentralised communications and why we need it (Anastasius Gavras, Eurescom & Simon Bécot, Orange Labs). Presented at TADSummit 2016, 15-16 Nov, Lisbon in Stream 3, Project reTHINK: Decentralised Communications.
TADSummit, Simfony: Building a Global IoT Service Provider using Programmable...Alan Quayle
Simfony: Building a Global IoT Service Provider using Programmable Telecoms
Stefan Anghel, Product Architect, Simfony Mobile
Where does IoT make sense? Cutting through the hype to real business and real solutions.
Review of the IoT Landscape, understanding the enablers and ecosystem.
Simfony's IoT Platform: an M2M focused MVNO. Delivering solutions to business problems.
The Future of IoT service providers.
IT plays a key role in financial markets by enabling electronic networks for transactions and providing tools to analyze risks and transactions. The document discusses how IT systems help administer the field of finance through risk analysis, risk reduction, and information exchange over networks. It also outlines some of the computer hardware, software, telecommunications technologies, and security issues that financial institutions utilize with increasing IT usage.
SWIFT is a secure network that allows multi-banked corporates to efficiently connect and communicate with multiple banks globally through a single channel. It addresses challenges of multi-banking like lack of visibility, manual processes, and high costs. SWIFT provides services for cash management, treasury, trade, and more. It offers benefits like global visibility, lower costs, and improved security compared to connecting with each bank individually. SWIFT is used by both large and small corporations internationally and domestically.
Similar to Financial i: Welcome to the planet SWIFT (20)
My "Digital Money Crystal" structures important considerations regarding various types and categories of digital money, related features as well as opportunities and challenges (dilemma)
Digitaler Euro - Überlegungen und FragenDirk Braun
Überblick, Annahmen und 20 Fragen zum digitalen Euro
Kapitel:
01: Überblick: Geldtypen, Rahmenbedingungen & das Dilemma der EZB
02: Annahmen: Funktionen & Vorurteile
03: Fragen: 20 Fragen zum Design des digitalen Euros
Dezember 2020
Bloomberg: Bundesbank concerned about payment jams on euro deadlineDirk Braun
The Bundesbank is concerned that German companies have not adapted sufficiently to new payment standards for the eurozone by a February 1st deadline, which could result in payment transactions being blocked. While other European countries have transitioned payments to the Single Euro Payments Area (SEPA) standards, only a small percentage of German transactions currently follow the new rules. The Bundesbank will spend 3 million euros on a campaign to increase awareness of the new SEPA requirements among German businesses. Failure of German companies to transition their payment systems fully to the new SEPA standards by the deadline could temporarily restrict liquidity in the German economy.
Euro Treasurer: Financial transaction tax hits companiesDirk Braun
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Financial Director: SEPA - welcoming the inevitableDirk Braun
The document discusses the Single Euro Payments Area (SEPA) initiative which aims to simplify bank payments across Europe through standardization. It notes that the deadline for migrating to the SEPA standard is February 2014. While this creates obligations for companies, the document argues that SEPA implementation should instead be seen as a strategic opportunity. SEPA allows companies to make payments across Europe using a single bank account and payment method, increasing efficiency. It also standardizes formats and processes. The document urges companies to begin preparing for SEPA now in order to reap rewards and avoid penalties for missed deadlines.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Poonawalla Fincorp’s Strategy to Achieve Industry-Leading NPA Metricsshruti1menon2
Poonawalla Fincorp Limited, under the leadership of Managing Director Abhay Bhutada, has achieved industry-leading Gross Non-Performing Assets (GNPA) below 1% and Net Non-Performing Assets (NNPA) below 0.5% as of May 31, 2024. This success is attributed to a strategic vision focusing on prudent credit policies, robust risk management, and digital transformation. Bhutada's leadership has driven the company to exceed its targets ahead of schedule, emphasizing rigorous credit assessment, advanced risk management, and enhanced collection efficiency. By prioritizing customer-centric solutions, leveraging digital innovation, and maintaining strong financial performance, Poonawalla Fincorp sets new benchmarks in the industry. With a continued focus on asset quality, digital enhancement, and exploring growth opportunities, the company is well-positioned for sustained success in the future.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
1. W I T H A G R O W I N G N U M B E R O F C O R P O R AT E U S E R S ,
T H E “ I ” I N S W I F T C O U L D S O O N S TA N D F O R S O M E T H I N G
ELSE – INTEROPERABILITY
Welcome to planet SWIFT
Dirk Braun*
How can you reach virtually all the major (TMS), as well as their accounts receivable
banks throughout the world via a highly and accounts payable systems, which are
secure, highly available platform? SWIFT of connected to SWIFTNet via middleware.
course SWIFT stands for the Society for Middleware handles tasks such as the
Worldwide Interbank Financial routing of messages - it determines which
Telecommunication. Dresdner Bank was one internal or external recipient/application
of its founder members in the 1970s, when should receive incoming and outgoing
SWIFT replaced the telex-based interbank messages. Another function of middleware
communications method with what was is to reconcile various software and/or
then a modern electronic process. Taking hardware platforms).
account of the increasing demands of users,
SWIFT has since undergone a few These parameters are essential to the notion
modifications. In 2004, the backbone of real STP or end-to-end STP, which
system was migrated from X.25 to IP describes the automated processing of data
technology, which saw member banks along the entire supply chain (of one or
migrate to SWIFTNet. more companies). This supply chain is
accompanied by the financial supply chain,
With the increased opportunities emerging which integrates payment flows associated
from this “private internet”, participation in with the various process steps. Companies
this telecommunications model is becoming should design their financial supply chains
increasingly attractive to corporates. to be as efficient as possible with as little
Communications here are, in theory, not manual input and disruption as possible.
limited to certain types of transaction and This goal can be achieved if the business
almost all (banking) services imaginable can applications used are integrated as
be processed. described above and are interoperable.
SWIFT Connectivity is of great significance
Participating companies implementing here. Case studies regarding the
SWIFTNet generally experience major implementation of SWIFT by corporates,
improvements in process organisation suggest that ROI is between 400% and
thanks to the flexibility of the required IT 600% in just five years.
infrastructure. This also allows for a higher
degree of straight-through processing (STP) - THE LATEST MODEL
less manual input and disruption. Since 1998, connection to SWIFT has been
Corporates connected to SWIFTNet can, for possible using the treasury counterparty
example, communicate directly with their model. With this type of access, there are
banks from their business applications, ERP no limitations for the communications
systems and treasury management systems partner – all SWIFT users can be reached
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2. THE FINANCIAL-i GUIDE TO SWIFT SOLUTIONS
directly. However, there is a limitation to the WHY SHOULD A
confirmation of FX deals message category.
CORPORATE JOIN SWIFT?
In 2001, SWIFT created another access
option for corporates: Member ■ Highly secure and available
Administered Closed User Groups (MA- communications network
CUGs). The MA-CUG model functions in the (99.999%)
exact opposite way to the treasury
counterparty model (no restrictions in ■ All main banks worldwide accessible
services but direct communication is only through one system
possible with one SWIFT member). In
principle, all SWIFT users (about 7,900) are ■ All types of banking transactions
reachable for corporates using the MA-CUG can be integrated
model – via the SWIFT member who
manages the MA-CUG for the respective ■ End-to-end straight through
corporate. processing through integration into
available business applications
Market developments in the past few years
have shown that corporates generally ■ Improved business decision-making
belong to several MA-CUGs so they can ability through real-time
communicate directly with their strategic communications (e.g. for liquidity
banking partners. The flexible and highly management)
secure deployment options for SWIFTNet
depend, however, on a few complex ■ Reduction in total cost of ownership
processes in the implementation phase, (TCO) as proprietary, heterogeneous
which must be completed in the MA-CUG banking systems are dispensed with
model for every partner with whom direct
communications are necessary. For example, ■ Audits simpler thanks to
contracts and tests must be agreed and minimisation of operational risks
implemented with all MA-CUG banks (important e.g. for Basel II and the
individually. Sarbanes Oxley Act)
To minimise these initial hurdles, SWIFT set ■ Future security due to high
up a working group, the Corporate Access scalability
Group (CAG). The results from this project
were approved by the SWIFT Board on 14 activity. The MM CUG model is scheduled to
July 2006. The working title of the new be officially introduced at the SIBOS SWIFT
access model is MM CUG (many-to-many conference (9 – 13 October 2006) and will
closed user group). The idea here is to only be available from 1 January 2007 as an
to process the initial “SWIFT joining” once alternative access method to SWIFTNet.
for the corporate – directly with SWIFT. To Dresdner Bank will support this service and
satisfy the high demands of the user intends to take an active role in its market
community in terms of security, availability, development.
and integrity of SWIFTNet in the new access
model, listing on one of the stock CHALLENGES TO IMPLEMENTATION
exchanges of the FATF countries is a The integration of a SWIFT connection for
prerequisite for participation. corporates is a significant undertaking. In
our experience, it is not the implementation
The countries involved in the Financial that absorbs resources, but defining and
Action Task Force on Money Laundering are establishing the content and processes. The
committed to the fight against money main challenges of such a project are
laundering and the financing of terrorist outlined in the following checklist:
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3. Scope FATF MEMBERS
■ Which business units will use the SWIFT
connection? ■ Argentina
■ Australia
■ Which banks will be contacted via ■ Austria
SWIFT? ■ Belgium
■ Brazil
■ Which transactions will be processed ■ Canada
through SWIFTNet? ■ Denmark
■ Finland
■ Which software will be used to process ■ France
these transactions in-house? ■ Germany
■ Greece
Infrastructure ■ Hong Kong
■ How can interoperability of the systems ■ China
and SWIFTNet be achieved? ■ Iceland
■ Ireland
■ Which hardware, software and ■ Italy
communications systems are currently ■ Japan
used? ■ Luxembourg
■ Mexico
■ Is outsourcing of the SWIFT technology a ■ Netherlands
possibility (make or buy)? ■ New Zealand
■ Norway
■ Service-specific features (e.g. payment ■ Portugal
transactions and cash management) ■ Russian Federation
■ Singapore
■ Which file formats do the current ■ South Africa
business applications produce? ■ Spain
■ Sweden
■ Which file formats can be processed by ■ Switzerland
the banks? ■ Turkey
■ United Kingdom
■ Which approval/authentication processes ■ United States
should be used?
Some of the main providers of specialist
OUTLOOK software and treasury management systems
On 1 January, 2008, the integrated have announced their intention to integrate
European payment transactions market will SWIFT connectivity into their products. The
become a reality (SEPA – Single Euro market leader in ERP systems, SAP, will
Payments Area). With this, comes the connect the first pilot customers from its own
introduction of a standardised legal software with SWIFTNet as early as 2006.
framework for the processing of payments Dresdner Bank expects this market trend to
in Europe and a new XML-based data result in a significant increase in data volume
format for processing payment transactions. being transferred by corporates via SWIFTNet.
Dresdner Bank anticipates that an If corporate SWIFT access strengthens, the
increasing trend will emerge of centralising “I” in SWIFT could well change.
cashflow, banking and account structures “Interoperability” is just around the corner…
along with the associated processes, such
as those in the domain of banking *Dirk Braun is assistant vice-president of
communications. Dresdner Bank. www.dresdner-bank.com
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