Benelux forum 2014 -SWIFTRef

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Information about Benelux forum 2014 -SWIFTRef

Published on March 20, 2014

Author: SWIFTcommunity



Presentation from the SWIFT Benelux Forum held in La Hulpe on 19/20 March 2014

Benelux Forum SWIFTRef update Visit us at Benoit Pirotte 19 March 2014 SWIFT, La Hulpe

Agenda The SWIFTRef progress SWIFTRef portfolio today 2014 focus Roadmap forward 2

J a n F e b M a r A p r M a y J u n J u l A u g S e p O c t N o v D e c J a n F e b M a r A p r M a y J u n J u l A u g S e p O c t N o v D e c J a n F e b M a r The SWIFTRef journey 2012 2013 2014 New product: BIC Archive New Distribution Channels: Download automation, daily, XML, web services Product enhancement Service Directory, addition Local language, addition Exclusion list for IBAN, addition Upgrade, legacy directories: BICPlusIBAN and SEPA Routing Commercial launch of Product enhancement LEI data, addition New Distribution Channels: FileAct New product: BIC to LEI EBA E1/S1 live FIN extraction for BIC to IBAN Launch: -BWO next gen -SWIFTRef DataWise -Ambassador programme -Bank File encryption -Redistribution licence to banks -Reduced price for bundled offers The SWIFTRef progress 3

The SWIFTRef progress 4

Data collection SWIFTRef Central Banks and Banking associations Financial institutions SWIFTRef users EBA and CSMs LOU Providers of financial info and ratings SWIFT IBAN format (ISO13616) BIC (ISO9362) MT103+ Bank financials & ratings, country economics LEI FI’s membership SEPA, IBAN, SSI National codes, IBAN Feedback from live operations The SWIFTRef progress 5

Payments Plus Bankers World Online IBAN & SEPA DATA • Validate IBANs and BIC codes • Find BICs from IBANs • Construct IBANs from BBANs • Find the best routing path for a beneficiary bank (SEPA) • Find the adherence to SCT, SDD-B, SDD-C schemes BANK DATA • Identify Financial Institutions • Find or cross-reference identifiers • Validate bank details • Understand bank hierarchy • Find history of BICs SWIFTRef portfolio Bank Directory Plus BIC Directory BIC Archive BIC to LEI IBAN Plus SEPA Plus SSI Retail SSI Wholesale SSI Plus SSI DATA • Find the correspondent bank • Find the intermediary bank • Scope = commercial payments, FX, MM Countries, Currencies, HolidaysOTHER TYPE MT094 (broadcasts) All above data and more! [correspondent banking data: financial data, credit rating, ownership, contacts…] DataWise (ex-BETsw) New Q1 New Q2 SWIFTRef portfolio today 6

Delivery channels Automated file download (API) APIs (web services) internet Manual file download FileAct (automated) Manual query tool (BWO) internet internet SWIFTNet SWIFTRef utility internet TXT XML Formatting Monthly Daily Frequency SWIFTRef portfolio today 7

Where is SWIFTRef data used Payments and treasury transactions • Automated (integration capabilities!) and manual processing • Standing settlement instructions Securities entity identification • BIC, LEI Correspondent due diligence and risk management • Cross-referencing of identifiers • Financial information • Hierarchy and ownership Compliance and Regulatory Reporting • SEPA, MiFID (FSA), LEI, FATCA, KYC, … Cost Risk Compliance SWIFTRef portfolio today 8

Product Institution/BIC details Payments data Legal entity data & Compliance 9 Focus 2014 Bankers World Online Join a 30-minute free webinar to discover “SWIFTRef Bankers World Online”, SWIFT’s reference data response to any of your payments, compliance and due diligence needs Wednesday, 2nd April 09:30 CET – 08:30 GMT – 11:30 MSK – 13:00 IST – 15:30 HKT Register now Thursday, 3rd April 15:00 CET – 14:00 GMT – 09:00 EDT – 15:00 SAST Register now Tuesday, 8th April 09:30 CET – 08:30 GMT – 11:30 MSK - 13:00 IST - 15:30 SGT Register now Wednesday, 9th April 17:30 CET – 16:30 GMT – 11:30 EDT – 08:30 PDT Register now

Ambassador programme Collect data from the country and financial institutions Ensure proper communication Provide expertise New country specific and focused approach to facilitate management and provisioning of country’s payments reference data Collaborate with National Member and User Group Chairpersons and groups Focus 2014 Ambassador programme 10

Ambassador programme, data National codes IBAN related data SSI Payments channels (LEI) • Do we receive them? Y/N • More than one code system? Y/N • Improvement required? i.e.frequency, format, source • List on valid Bank identifiers available and up-to-date? • List of Bank identifiers used in IBAN? • Availability of SEPA-specific BICs? • Improvement required? i.e.frequency, format, source • Identify the clearing systems • Do we receive a list of participants? • SEPA related questions: which clearing systems is used for SEPA?what is the old clearing systems? Will the old remain? • Coverage: # of SSIs(FI) vs num of payment BIC8 • TOP10? Y/N • Local registration body? Y/N • Branches and BICs to LEI? # licensed banks # FIs on SWIFT Focus 2014 Ambassador programme 11

Ambassador programme, roles SWIFT will work with the Chairperson, in order to: - Liaise with the national data authorities, - Communicate to financial institutions, - Coordinate on local processes and follow-up activities, - Ensure the country is ‘properly on the map’. SWIFT will provide: - Collateral, - Report on current state on country’s reference data, - Progress report on data coverage (monthly or quarterly), - Targets. Focus 2014 Ambassador programme 12

Redistribution for Banking Clients Usage Definition Pricing model Redistribution to Corporates Data provided to clients through application or product Pricing based on Data Distribution Prices (For vendors who serve “non-traffic based” end- users) Online Banking Integration of data into retail online banking systems Pricing based on Volume of transactions Traffic Bands (payments per site per year) Website Usage Integration of data into website homepage or similar, free public use Nominal fee (TBD) SWIFTRef logo on page 13 Contact: Focus 2014 Redistribution licence to banks

Alliance Access Bank File encryption Legal terms of bank file use - freely available as part of the Alliance Access licence but may only be used within it Encryption of the bank file - to avoid further misuse, a decision was made to now encrypt the Bank file and therewith limit readability to Alliance Access only. Implementation - a message standards patch, which becomes available July 2014, will require as of its implementation upload of the newly formatted bank file. For Alliance Access this change will be transparent. - from November 2014, when the message standards patch becomes mandatory, the current format of the bank file will no longer be available. Consequence - Customers who are using the bank file for other purposes must look now for alternative solutions to feed Reference Data in these other (non-Alliance Access) applications and systems. Focus 2014 Bank File encryption 14

Reduced price for bundled offers Payments Plus  Bank Directory Plus  SEPA Plus (incl. IBAN Plus)  SSI Plus -15% on total price (of individual modules) Diamonds Online  Bankers World Online  BIC Archive Online  MT094 Online -30% on total price (first user) + discount on each additional user 15 Focus 2014 Bundled offers

Key Pillars for the SWIFTRef Roadmap Solidify global utility model Leverage KYC and other value propositions Facilitate industry adoption Single source for all data Roadmap forward 16

Customer Adoption Roadmap forward 17

Thank you

Questions ?

Back-up slides Data collection

Data, maintenance screen All Bank IDs Only Bank IDs used in IBANs BICs associated with IBANs 21

Data, IBAN/BICs from payments counter PROTECTED FIN ENVIRONMENT NO HUMAN INTERVENTION Only for: • domestic CURRENCY • Intra-SEPA Extracted are: • COUNTRY CODE • BANK ID • BIC BE 985 BPOTBEB1 188 BE 985 BPOTBEB1ISA 7 BE 985 PCHQBEBB 16 PL 96730007 SPWOPLP1 5 PL 96730007 SPOUPLP1 62 PL 96730007 POLUPLPR 150 PL 96730007 GBWCPLPP 2 IT 0306901001 BCITITMMI01 56 IT 0306901001 BCITITMM 434 IT 0306901001 CARMIT31 2 MT103(+) ER 1122 IBAN Plus Challenge the data in IBAN Plus (no population!!!) 22

Link to Update data

Back-up slides File directories

SWIFTRef enhancements 1/4 Initialized by the UK community to meet MiFID regulation First availability October 2012 Content: BIC HISTORY, since November 2007 the changes, what the dates, when it happened 25

SWIFTRef enhancements 2/4 Service Directory - Membership to domestic and international payments system, CSM/ACH - YTD coverage: 9 clearing systems and ongoing (no SEPA CSMs – SEPA Plus) CHAPS (UK) FedWire (US) HK Clearing (HK) E1/S1 (UK) COMPE (BR) Local language - National codes, names and addresses in local language - YTD coverage: 8 countries, and ongoing 中国农业银行北安市支行 高知銀行 КОММЕРЧЕСКИЙ БАНК ИНДИИ ООО 578 44525500 103278282806 엘아이지투자증권 영업부2920010 26

SWIFTRef enhancements 3/4 llll Landesbank Hessen-Thüringen Girozentrale Bei der Ermittlung einer IBAN aus Kontonummer und BLZ sind in Abweichung zu der Standard IBAN- Regel folgende Besonderheiten zu beachten: Für die IBAN-Ermittlung ist stets die Bankleitzahl 500 500 00 zu verwenden. Beispiel: Bankleitzahl: 508 500 49 Kontonummer: 5000002096 IBAN falsch: DE44 5085 0049 5000 0020 96 IBAN richtig: DE95 5005 0000 5000 0020 96 Exclusion List 50050000 50850049 … IBAN Plus Bankleitzahlverzeichnis Exclusion list 27

SWIFTRef enhancements 4/4 BIC to LEI mapping, in: • BIC to LEI directory (new product) • BIC to LEI data in Bank Directory Plus and Bankers World Online (enhancement) First availability July 2013 YTD match: • 30.000 BIC11/4.300 BIC8 Central Operating Unit (COU) 28

Back-up slides Online directories

Instant online access to SWIFT’s worldwide reference data platform through an intuitive interface. Benefits: World-class reference data from a single source KYC data (bank financials, economic information) Daily updates Fully relational database Cost effective “concurrent user” access scheme Link to the online maintenance tools to publish/maintain your own reference data to the SWIFTRef platform. Online Directories from SWIFTRef Bankers World Online

Institution details customer data: • Contact details • Bank’s ownership structure • Bank credit ratings • Financials • Bank’s ownership structure

Payments data Building blocks for specifc customer data: • IBAN National Codes & IBAN BIC • SSI data • Bank Codes Globally • All BIC Codes Worldwide • Payment Services • SEPA Routing data

Legal entity data & Compliance Building blocks for specifc customer data: • Legal Entity identifiers • Identity, regulatory and sanctions data per institution • Incorporation details

Initialized by the UK community to meet MiFID regulation. Content: BIC HISTORY, since Nov 2007 the daily changes, what the dates, when it happened Broadcast service offers fast and daily access to any broadcasts (from SWIFT and correspondents) as well as a research tool. Content: BROADCASTS, since Jan 2009 the daily newsflash, what the dates, when it happens Online Directories from SWIFTRef BIC Archive Online MT094 Online  Service enhanced by a E-mail alert, advising you of any inter-day changes.

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