Published on March 20, 2014
How the ASP model changes the corp-2-bank landscape ASP model for corporates La Hulpe, March 2014 Benelux forum
Corporates today + Overview + Segmentation ASP model - intro + Lite2 an converter + Cloud applications + Benefits ASP model – beyond connectivity + 3Skey, SWIFTref and other applications 3Skey zoom-in More than corporates ? 2 Agenda
New corporates in 2013 173 (20% vs. 2012) 20% 10% 70% Americas Asia Pacific EMEA Traffic (FIN 31% FileAct 41% Q4 2013 vs. Q4 2012) Bank adoption 803 banking groups offering corporate connectivity 46 banking groups certified 573 banks (BIC8) 117 countries Corporate adoption (BIC8) 3SKey: 36 banking groups BPO: 55 banking groups 72% FORTUNE Global 500 (top 25) On SWIFT 3 Corporate Adoption - Summary
Per corporate turnover & banking partners Corporates by annual turnover (USD) Corporates by number of banking partners $1-10Bn 28% >$10Bn 31% <$1Bn 41% >20 banks 13% 10 to 20 banks 21% 5 to 9 banks 29% <5 banks 37% >$10Bn 30% $1-10Bn 34% <$1Bn 36% 37% of SWIFT-connected corporates deal with less than 5 banks 36% of SWIFT-connected corporates have a turnover < $1Bn 4 Corporate connectivity
5 Typically very large corporates (F500–F2000) Small corporates OUT of SCOPE for SWIFT messaging Mid Tier market with mix of: - Multi banked corps - Corp. buying all-in cloud services - But also corps with plain vanilla cash mgt Larger corp. projects - More complex clients - Clients looking for ‘best in class’ assembly of total solution ’ Small corporates - Mono or duo bank clients - Plain vanilla cash management New market - Private infrastructure - Lite2 and Converter - MyStandards - SWIFT services like Accord, sanctions screening, … SWIFT OfferingCorporate dynamics Mid-tier Corporate market (EMEA) Segmentation and strategy - Lite2 and Converter - ASP model for cloud applications - MyStandards - 3Skey for authentication - SWIFTref product suite
Corporates today + Overview + Segmentation ASP model - intro + Lite2 an converter + Cloud applications + Bank benefits ASP model – beyond connectivity + Messaging, 3Skey, SWIFTref 3Skey zoom-in More than corporates ? 6 Agenda
Massive growth in cloud applications 50% report agility and scalability as key drivers 70% see cloud as bringing better TCO “When customers choose cloud applications they expect rapid low-cost implementations, they also expect application integrations to work right out of the box, even when the applications are from different vendors….” 7 Larry Ellison, Oracle Customer expectations are changing Cloud applications
Massive take-up in cloud apps & SWIFT complexity SWIFT services “in the cloud” through partner cloud apps 8 o Multiple SWIFT services delivered in simple way o Faster corporate implementation o Deeper penetration mid-tier segment (cloud) o Partnership with cloud application providers SWIFT offering for cloud applications Why is SWIFT looking into the subject ?
Virtualisation pack • No need for USB tokens on Autoclient • Replaced by channel certificate • VPN boxes (set of 2) • Internet connectivity • Ideal for Virtual environments Solution Converter Plugin for Lite2 • New connectors (File / MQ / Web services) for back office systems • File / message transformations • SWIFT protocol aware (create parameter files on the fly) • Easy integration with back office systems Solution Autoclient Alliance Lite2 Work flow SWIFTNet msg SSL in VPN tunnel Web server ERP CRM TMS AutoClient (Automated Transfers) Converter WS MQ File 1 1 2 2 9 On premises connectivity recap Lite2 / Converter
10 PARTNER CLOUD APPLICATION Corporate A Corporate B Corporate … SWIFT ASP Lite2 bridge MY STANDARDS REF DATA ACCORDTM SanctionsTM ASP model What is it ? 3SKEY SUBSCRIPTION SWIFT Messaging for corporate customer - Domestic & international cash mgt, treasury, trade, securities messaging - Bank reach 3SKey for corporate customers - Provides high level of security (authentication, integrity, non repudiation) - One token for all parties ASP Internet, leased line, proprietary, … SWIFT secure network Lite2 ASP messaging (simple SWIFT messaging) - One connection to all banks (DOM & INT) - One set of standards Simple usage of other SWIFT components - 3Skey / SWIFTref and other Key components SWIFT community
11 ASP model - examples
12 Secure & reliable connectivity to +10.000 financials institutions worldwide Multi-bank cash management and workflow cloud application in the Netherlands. Multi-bank cash management and workflow cloud application with Secure & reliable connectivity to +10,000 financials institutions worldwide ASP model Cooperation between SWIFT and ASP provider
Cost efficient 14 ASP model Benefits • Corporate has BIC8 • Bank KYC and contract rules • Standardize authentication and signature • SWIFT qualified application • One-stop shop • Testing • integrates correctly with SWIFT • Score compliant • Reduce proprietary solutions and better utilise SWIFT channel • Standardised formats • Faster on-boarding • Enhanced reach • Straight-Through Processing (STP) Increased revenue Cost efficient Risk mitigation Automation
Corporates today + Overview + Segmentation ASP model - intro + Lite2 an converter + Cloud applications + Bank benefits ASP model – beyond connectivity + Messaging, 3Skey, SWIFTref 3Skey zoom-in More than corporates ? 15 Agenda
All you need to to identify a financial institution to validate bank details (BIC, LEI, national bank identifiers,.) to validate an IBAN or an IBAN/BIC combination to derive the BIC, who issued a specific IBAN to construct an IBAN from a BBAN to clarify a bank’s adherence to SCT or SDD-schemes to find the best routing path for a beneficiary bank (SEPA) Beyond connectivity SWIFTref value proposition
Your institution • Screening engine & user interface • Centrally hosted and operated by SWIFT • No local software installation & integration • Real-time • Sanctions List update service 17 Your correspondents Beyond connectivity Sanctions screening
18 Publish for your customers Manage your own specs Consume industry specs Reduce Costs Increase Internal Efficiency Improve Customer Experience Beyond connectivity MyStandards
• Establishing efficient access control ‒ Security concerns ‒ Usability issues ‒ Complex solutions • Enhancing customer experience ‒ Multiple and different tokens and devices ‒ Multiple systems and changing passwords • Reducing costs in security solutions ‒ Investments to build infrastructure ‒ Integration costs ‒ Running and maintaining the solution • Integrating controls and traceability ‒ Implementing tight workflows & controls ‒ Audit trails – who signed what and when 19 Challenges Beyond connectivity Authentication and digital signature
Corporates today + Overview + Segmentation ASP model - intro + Lite2 an converter + Cloud applications + Bank benefits ASP model – beyond connectivity + Messaging, 3Skey, SWIFTref 3Skey zoom-in More than corporates ? 20 Agenda
21 For corporate users For banks and service providers Password 1 Password 2 A global standard solution to work with all banks and applications Reducing costs, increasing security and enhancing customer satisfaction 3SKey zoom-in What makes 3SKey different ?
22 ASP ASP APPLICATION Customer Banks 3SKEY SUBSCRIPTION 1 - Secure channel 2 - Entity verification 3- Token authentication 4- Individual verification 5- Non repudiation 6 - Entitlements management 7 - Signature transport ● ● ● ● X X X Secure ASP portal for end-user login and/or data entry 3SKey zoom-in 3SKey within the ASP application - Authentication
23 ASP ASP APPLICATION Customer 3SKEY SUBSCRIPTION 1 - Secure channel 2 - Entity verification 3- Token authentication 4- Individual verification 5- Non repudiation 6 - Entitlements management 7 - Signature transport ● ● ● ● ● X X Transport personal signatures to 3SKey-ready banks Verify signatories and provide non- repudiation during approval workflows Audit record: who signed what and when? 1 - Secure channel 2 - Entity verification 3- Token authentication 4- Individual verification 5- Non repudiation 6 - Entitlements management 7 - Signature transport ● ● ● ● ● X o 3SKey zoom-in 3SKey within the ASP application – Signature to bank Banks
24 ASP ASP APPLICATION Customer 3SKEY SUBSCRIPTION 1 - Secure channel 2 - Entity verification 3- Token authentication 4- Individual verification 5- Non repudiation 6 - Entitlements management 7 - Signature transport ● ● ● ● ● ● o Offer mandate management services towards corporates and/or banks 50 K max Treasury payments 100 K max Accounts receivables 250K max Supplier payments Signatories database 3SKey zoom-in 3SKey within the ASP application – Mandate mgmt. Banks
25 3SKey zoom-in 3SKey use cases
26 75% of SWIFT’s top 25 corporate access providers have adopted 3SKey First 2 cloud application providers signed-up for Lite2 + 3SKey Bank of Tokyo-Mitsubishi first to sign for 3SKey in Asia Pacific Société Générale rolls out 3SKey in over 90 countries on eBanking portal Citi and DB promote 3SKey as industry standard 3SKey zoom-in 3SKey use cases – SIBOS wrap-up
27 90+ countries 37 banking groups ~ 3,500 user groups (*) 22,000 active users 42,000 tokens 54 vendors (*) Estimated based on # of user groups 3SKey zoom-in 75% of SWIFT’s top 25 banks offering corporate access
Corporates today + Overview + Segmentation ASP model - intro + Lite2 an converter + Cloud applications + Bank benefits ASP model – beyond connectivity + Messaging, 3Skey, SWIFTref 3Skey zoom-in More than corporates ? 28 Agenda
Global reach Complete E2E processes Formats Low cost Customer support ASP Scalable solution Ease of bank onboarding Integration of Back-office Systems Flexibilty Your own BIC Full approval chain & 29 More ASP’s ? More than corporates ?
The end … Thomas.email@example.com Thomas Peeters
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