Transcript swift - Felaban

Introdución a SWIFT:
Facilitando ventajas competitivas a
través de estándares comunes y una
plataforma compartida
Lambert Timmermans
Gerente América Latina, SWIFT sc
Cartagena - Agosto 2005
Slide 1
SWIFT Plenary - Agenda

The 2010 Strategy of SWIFT

SWIFT in Latin America

SWIFTNet solutions helping you building
competitive advantage
Slide 2
SWIFT Plenary - Agenda

The 2010 Strategy of SWIFT

SWIFT in Latin America

SWIFTNet solutions helping you building
competitive advantage
Slide 3
SWIFT - connecting the financial community
Banks
(Founding - 1973)
Corporates (2001)
Insurance IMI's
(2001)
Government
institutions (2001)
Payment
systems (1987)
Clearing &
Settlement
systems (1987)
Broker-dealers
(1987)
Securities MI's
(2000)
Stock Exchanges
(1987)
Treasury
Counter-parties
(1999)
Payments MI's
(1998)
Depositories (1987)
IMI's
(1992)
Trustees
(1990)
Slide 4
Visión SWIFT2006
"Nuestra misión es ser la
infraestructura de mensajería de la
comunidad financiera, aportando el
menor riesgo y los mayores
niveles de contingencia."
Slide 5
Single window connectivity for the industry
Banks
Brokerdealers
Insurance
companies
Investment
Managers
Pension
Funds
Corporates
SWIFT
Stock Exchanges
Transfer
Agents
User
Groups
Other
Exchanges
Infrastructures
and VMUs
ETC providers
ICSDs & CSDs
Creating STP momentum for the industry
Slide 6
SWIFT2006
Making financial messaging safer
and less costly
Slide 7
2005 Pricing initiatives
FIN Price reductions
Reporting
Non-Reporting
Domestic
20%
5%
Intra-Bank
30%
18%
International
20%
7%
Average reduction = 8%
Slide 8
Rebate history
EUR
Millions
10%
33 M
30
8%
25 M
20
5%
15 M
10
?
0
2002
2003
2004
2005
Slide 9
Reducing total cost of ownership
 Service bureaux
 Introductory packages for small users
 ISP local loop
 Member concentrator model approved
 SWIFTAlliance starter set ($ 4,750) fee waived
Slide 10
Pricing and traffic
Harnessing economies of scale
Price
(EURcent/msg)
50
Traffic
(Millions of messages)
2500
45
40
2000
35
30
25
1500
1000
20
15
500
10
5
0
Slide 11
SWIFT’s changing market mix
Share of SWIFT messaging revenues (EUR)
100%
80%
Securities MI
Securities
Banking MI
Banking
60%
40%
20%
0%
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Slide 12
SWIFT: la red mundial en 2005
Dia pico: 10,958,655
7,678 instituciones financieras
Disponibilidad : 99.999%
203 paises
Crecimiento
Pagos
6%
Tresoreria
5%
Com. Ext
1%
Valores
Pagos/576 MM msgs
11%
Comercio /19 MM msgs
Tresoreria/65 MM msgs
Valores/338 MM msgs
Slide 13
Banking market infrastructures in 1995
EBA
Norway
Slide 14
Banking market infrastructures in 2005
Albania
Angola
Australia
Austria (ARTIS)
Azerbaijan
Bahamas
Belgium
Barbados
Bosnia Herzegovina
Bulgaria
Canada
Chile
CLS Bank
Croatia
Denmark
EBA (EURO1)
EBA (STEP1, STEP2)
ECB (TARGET)
Egypt
Eurogiro
Finland
France CRI
Germany (RTGSplus)
Ghana
Greece
Hungary
Guatemala
Italy (BI-REL)
Ireland
Jordan
Kuwait
Latvia
LCH
Luxembourg
Malta
Mauritius
Namibia
New Zealand
Netherlands (TOP)
Netherlands (Interpay)
Norway
Philippines
Romania
Singapore
Slovenia (SIPS, GIRO)
South Africa (SAMOS)
South Africa (BOP, ZCL)
Spain (SLBE)
Sri Lanka
Sweden (RIX, BGC)
Switzerland
Tanzania
Thailand
Trinidad & Tobago
Tunisia
Uganda
UK NewCHAPS
Venezuela
West African Monetary
Union
USA (CHIPS, Fedwire)
Zambia
Zimbabwe
Slide 15
Securities market infrastructures 1995
JP Morgan
Cedel
Slide 16
Securities market infrastructures 2005
Euroclear NL
DTCC
ISCC
Euroclear Bank
Euroclear FR
Clearstream
Eurex
Singapore SE
CREST
ECSDA
JSCC
Iberclear
Omgeo
SIS
HKMA
SIS X-clear
LCH.Clearnet
Tokyo Stock Exchange
London Stock Exchange Strate Sydney Futures Exchange
Johannesburg SE
…and others!
Slide 17
 Service
 Crisis
processes
continuity
People
 Personnel
Crisis mgmt
and cyber security
Security
 Physical
Service continuity
Increasing resilience - 4 Pillars II
management
Slide 18
Visión SWIFT2010?
"Nuestra visión es de llegar a ser la
principal infraestructura de la
comunidad financiera global para la
gestión de transacciones con el
menor riesgo y la mayor fiabilidad."
Slide 19
SWIFT Plenary - Agenda

The 2010 Strategy of SWIFT

SWIFT in Latin America

SWIFTNet solutions helping you building
competitive advantage
Slide 20
SWIFT en América Latina
Organisacion regional SWIFT
Migracion SWIFTNet
Acceso corporativo/Ma-CUG
Conferencia Reg. 2005
47 paises
8.2 MM msg (+ 17%)
Sistemas de pagos
Service Bureaus
699 usuarios activos
Slide 21
2. SWIFT Trafico en America Latina:
por mercado (Mayo 2005)
% Cuota
Crecimiento
Pagos
Tresoreria
Com. exter
Valores
Total
Valores
Tresoreria
5% Com. Exter.
6%
3%
Tot Msg
(Sent)
8.7 mio
20 %
-12 %
2%
13 %
18 %
Pagos
86%
Slide 22
Traffic
2004 Top 20 countries and Latin America
Millions
450
400
350
300
250
200
150
100
50
0
Latin
GB US DE FR BE IT NL CH JP LU HK ES AU SE ZA CA AT SG DK FI America
Slide 23
Growth
2004 Top 20 countries, Latin America and "RIC's"
40%
35%
30%
25%
20%
15%
10%
5%
0%
-5%
-10%
IT AT JP IN RU Latin CN US GB FI HK AU BE CA SE ZA DE LU SG FR DK NL ES
America
CH
Slide 24
Latin America traffic
2004 Top 10 countries
Millions
4.5
4.0
4.1
4.1
3.5
3.0
2.6
2.5
2.0
2.0
1.5
1.5
1.3
0.9
1.0
0.8
0.7
0.6
0.6
EC
PE
PA
AN
0.5
0.0
MX
BR
VE
CL
AR
CO
Others
Slide 25
Latin America growth
2004 Top 10 countries
50%
45%
44%
40%
40%
35%
29%
30%
24%
25%
18%
20%
16%
14%
15%
11%
10%
10%
8%
5%
0%
-5%
-1%
CL
VE
CO
MX
AR
EC
BR
PE
AN
PA
Others
Slide 26
SWIFT Plenary - Agenda

The 2010 Strategy of SWIFT

SWIFT in Latin America

SWIFTNet solutions helping you building
competitive advantage
Slide 27
Proprietary connections: IT Iceberg concept
software
lines
hardware
testing
legal
maintenance
support
project management
backup
procurement
release qualification
education
software
maintenance
disaster take-over
exercises
documentation
Slide 28
SWIFTNet - main features
SWIFTNet messaging product offering
FIN
Standard store-and-forward
messaging for single instructions
FileAct
Real-time file transfer for
bulk payments files and reporting
InterAct
Real-time messaging for
query / response and transaction input
Browse
Online information visualisation
Slide 29
SWIFTNet: single window access to the
financial world
Market infrastructures
RTGSplus
CLS
i-C&S (NYCH)
Euroclear Bank
Clearstream
Chile LBTR …
SWIFTNet FIN
Single window
access to MI’s
Enabling the
community
More than 7,000 FIN
correspondents in
more than 200
countries
Customer solutions
Business solutions
SWIFTNet
Corporate access / MA CUG
Extended reach
Broader range of
business solutions
FX-Accord
FIX
Cash reporting
Proprietary reporting
Bulk payments
Securities report
Funds mngnt
Browsing
Slide 30
SWIFTNet: single window access to the
financial world
Market infrastructures
RTGSplus
CLS
i-C&S (NYCH)
Euroclear Bank
Clearstream
Chile LBTR …
SWIFTNet FIN
Single window
access to MI’s
Enabling the
community
More than 7,000 FIN
correspondents in
more than 200
countries
Customer solutions
Business solutions
SWIFTNet
Corporate access / MA CUG
Extended reach
Broader range of
business solutions
FX-Accord
FIX
Cash reporting
Proprietary reporting
Bulk payments
Securities report
Funds mngnt
Browsing
Slide 31
Example of FIN
Use a single standard with all counter-parties
FIN for treasury and liquidity management
Request for Transfer (MT101)
Notice to receive (MT210)
Credit/debit advice (MT900/910)
Intra-day Statement (MT942)
End of day Statement (MT940)
A complete set of standard messages that allow
end to end automation
Slide 32
FIN for liquidity management
Automate investment and borrowing activities
FIN for liquidity management
Order to buy/sell (MT502)
Confirm of purchase/sale (MT515)
Settlement instructions (MT540/1/2/3)
Settlement confirmations (MT544/5/6/7)
Statement of holdings (MT535)
…. + an extensive set of standards to automate
your collateral management and corporate actions
Slide 33
Financial risk management
Automated matching with SWIFTNet Accord
FIN and Accord for financial risk management
SWIFT
Accord
subscriber
Copies of
confirmations
Accord
subscriber or
non- subscriber
Real-time interactive
Reporting and Exception
handling
Accord
Real-time
Confirmation
Matching
SWIFTNet Accord further reduces costs and
operational risk
Slide 34
SWIFTNet: single window access to the
financial world
Market infrastructures
RTGSplus
CLS
i-C&S (NYCH)
Euroclear Bank
Clearstream
Chile LBTR …
SWIFTNet FIN
Single window
access to MI’s
Enabling the
community
More than 7,000 FIN
correspondents in
more than 200
countries
Customer solutions
Business solutions
SWIFTNet
Corporate access / MA CUG
Extended reach
Broader range of
business solutions
FX-Accord
FIX
Cash reporting
Proprietary reporting
Bulk payments
Securities report
Funds mngnt
Browsing
Slide 35
SWIFT provides a total solution
for payments and settlement systems
Banking
Automated clearing Real-time gross
correspondents
houses
settlement systems
Settlement
instructions
Payments
R-t cash reporting
Bulk payments
Real-time query/control
Bulk payments
Central securities
depositories
Settlement
instructions
Settlement instructions
DVP instructions
Real-time query/control
Reporting
Real-time query/control
Reporting
FIN FIN Copy
InterAct
FileAct
Slide 36
Example: the FED and CHIPS
 Federal
Reserve Bank
– Fedwire: as a contingency for large banks
– Fed ACH: as a contingency for large banks
 The
Clearing House
– CHIPS: as primary messaging
– EPN ACH: payment channel - primary or
contingency for large banks
Slide 37
Payments Markey Infrastructures (May 2005)
FIN
FIN Copy
Austria (ARTIS)
Bahamas (RTGS)
Barbados (RTGS)
Belgium (ELLIPS)
ECB (Target)
Finland (BOF)
Greece (HERMES)
Kuwait (RTGS)
Malta (RTGS)
Netherlands (InterPay)
Netherlands (TOP)
South Africa (SAMOS)
Switzerland (Remote Gate)
Thailand (BAHTNET/2)
Trinidad and Tobago (RTGS)
Venezuela (PIBC)
W. African Monetary Union
(BCEAO)
Albania (RTGS)
Australia (PDS)
Azerbaijan (AZIPS)
Bosnia Herzegovina (BIH)
Bulgaria (RTGS)
Canada (LVTS)
Chile (LBTR)
CLS Bank
Croatia (HSVP)
Denmark (KRONOS)
EBA (EURO1 & STEP1)
Egypt (CBE)
France CRI (PNS/TBF)
Germany (RTGSplus)
Ghana (RTGS)
Hungary (VIBER)
Ireland (IRIS)
Italy (BIREL)
Algeria (RTGS)
Bank of Central African States
(BEAC)
ECB TARGET2
Guatemala (RTGS)
Oman (RTGS)
Pakistan (RTGS)
Angola (RTGS)
ECB TARGET2
Kenya (KPS)
Singapore (MEPS+)
Dominican Republic (RTGS)
Fiji (RTGS)
Russia (RTGS)
SWIFTNet
Ireland (RTGS)
Jordan
Italy (RTGS)
Latvia
Jordan
Luxembourg (LIPS)
Latvia
Mauritius (RTGS)
Luxembourg
Namibia(RTGS)
Mauritius
New
Zealand (AVP)
Namibia
Norway
(NICS)
New Zealand
Philippines(RTGS)
Norway
Romania
(RTGS/CSD)
Philippines
Slovenia
(SIPS)
Slovenia
South
Spain Africa
(SPI) (ZCL)
Sri
Sri Lanka
Lanka (RTGS)
Sweden
Sweden (RIX)
Tanzania (RTGS)
Tanzania
UK NewCHAPS
Uganda
(RTGS) (€ & £)
Zimbabwe
UK
(NewCHAPS)
Zambia (RTGS)
Zimbabwe (ZET)
Live
Implementation
Discussion
Planning
Austria (ARTIS)
Chile (COMBANC)
CLS Bank
EBA (STEP2)
Eurogiro
Germany (RTGSplus)
Italy (BIREL)
Luxembourg (LIPS)
South Africa (BOP)
UK (EnquiryLink)
Albania (AECH)
ECB TARGET2
Netherlands (InterPay)
Singapore (MEPS+)
Slovenia (GIRO)
Spain (NSLBE)
Sweden (BGC)
USA (CHIPS)
USA (Fedwire)
CHIPS (TCH)
Eurogiro
Slovenia (Giro)
Sweden (BGC)
UK (BACS) Georgia (ACH)
Hungary (VIBER Monitor)
Tanzania (ACH)
UK (BACS)
USA (EPN)
Slide 38
Ex. Contd:
SWIFTNet expands the options for US
banks
Single payments
FedWire
CHIPS
RTGS
FEDNET
FI’s
Bulk payments / Files
FedWire
FED
ACH
ACHs
FI’s
Existing SWIFT flows (FIN)
New SWIFT flows (InterAct and FileAct)
FED
ACH
Dedicated
link
SWIFT
EPN
ACH
TCH
CHIPS
EPN
ACH
Dedicated
link
Single
SWIFTNet
connection
US Banks
Slide 39
SWIFTNet: single window access to the
financial world
Market infrastructures
RTGSplus
CLS
i-C&S (NYCH)
Euroclear Bank
Clearstream
Chile LBTR …
SWIFTNet FIN
Single window
access to MI’s
Enabling the
community
More than 7,000 FIN
correspondents in
more than 200
countries
Customer solutions
Business solutions
SWIFTNet
Corporate access / MA CUG
Extended reach
Broader range of
business solutions
FX-Accord
FIX
Cash reporting
Proprietary reporting
Bulk payments
Securities report
Funds mngnt
Browsing
Slide 40
The Bulk Payments Solution is based on
SWIFTNet FileAct
FileAct
Sender
File transfer
status
Receiver
1
File transfer initiation
2
Actual file transfer
3
Delivery notification (optional)
File transfer
status

Authenticity, integrity, confidentiality, non-repudiation

Flexible central routing

Any type of file up to 250Mb, compression supported
Slide 41
SWIFTNet FileAct addresses
your present end-to-end bulk payment needs
Automated
Clearing
House
Financial
Institution
SWIFTNet
FileAct
Customer
SWIFTNet
FileAct

Standardised file
transfer platform

Support of existing
file formats

Global reach

Highly secure and
cost effective
Financial
Institution
SWIFTNet
FileAct
Customer
Slide 42
1. What is SWIFTNet Cash Reporting?
Account
servicing
institution
FIN MT 103 / MT 202
Intraday FIN MT 900/910/942
SWIFTNet Cash Reporting
End of day FIN MT 950
-Time payments are more common
-Timed liquidity needed: RTGS’s, PvP, DvP’s
-Longer settlement days
-Interdependencies between payment systems
-Globally connected world
-Increasing regulatory pressure
-Time = money
Account
owner
Slide 43
SWIFTNet Cash Reporting
supports your real-time information needs
Market infrastructure
cash management
Real-time Nostro
account information
Real-time
cash reporting
for corporates
SWIFTStandards XML
Slide 44
Service User
person to application possible configurations
Admin
GUI
Admin Messen
GUI
ger GUI
Messen
ger GUI
SA
WebStation
Admin
GUI
Messen
ger GUI
SA
WebStation
SA
WebStation
RAHA
SNJ
SA Starter Set
SAG
SA Access
RAHA
SAG
SA Gateway
SNL
SNL
SWIFTNet
RTNAI
service
SWIFTNet
RTNAI
service
SWIFTNet
RTNAI
service
a) Stand alone: SAB + GUI
connected directly to SWIFTNet
(via a dial-up/leased line)
b) SAB + GUI concentrated
behind the SWIFTAlliance
Starter Set
c) SAB + GUI concentrated
behind the SWIFTAlliance Gateway
Slide 45
The SWIFTAlliance Starter Set
The SWIFTNet single window:
SWIFTAlliance
Entry
or Access
File
transfer
GUI
SWIFTAlliance Starter Set
SWIFTNet Link
The SWIFTAlliance
Starter Set opens
the single window
Market
infrastructures

Customer
Solutions
SWIFTNet FIN
Financial
institution


SWIFT Business
Solutions

Generic SWIFTNet messaging services
InterAct
 
FileAct
Browse
Slide 46
The SWIFTAlliance Starter Set
The SWIFTNet single window:
SWIFTAlliance
Entry
or Access
File
transfer
GUI
SWIFTAlliance Starter Set
SWIFTNet Link
The SWIFTAlliance
Starter Set opens
the single window
Market
infrastructures

Customer
Solutions
SWIFTNet FIN
Financial
institution


SWIFT Business
Solutions

Generic SWIFTNet messaging services
InterAct
 
FileAct
Browse
Slide 47
SWIFTNet: single window access to the
financial world
Market infrastructures
RTGSplus
CLS
i-C&S (NYCH)
Euroclear Bank
Clearstream
Chile LBTR …
SWIFTNet FIN
Single window
access to MI’s
Enabling the
community
More than 7,000 FIN
correspondents in
more than 200
countries
Customer solutions
Business solutions
SWIFTNet
Corporate access / MA CUG
Extended reach
Broader range of
business solutions
FX-Accord
FIX
Cash reporting
Proprietary reporting
Bulk payments
Securities report
Funds mngnt
Browsing
Slide 48
Streamlining with heterogeneous systems is a
challenge
Corporate client
VAN
Accounts
payable
host to host X
Leased line
Accounts
receivable
e-banking Y
Treasury
Internet
Other
e-banking Z
PSTN
“fax-banking”
How can banks help ?
Slide 49
Banks can help by offering access over a
secure standardised channel
Corporate client
Accounts
payable
Accounts
receivable
SWIFTNet
Treasury
Other
SWIFTNet interface
One platform
 Full STP
 Highest level of
security and
resiliency

Lower costs
 Reduced risk
 Improved control

Slide 50
Banks offering corporate access over SWIFTNet
Americas
Mexico (MX)

BBVA Bancomer, S.A.
Brazil (BR)

Banco do Brasil
Canada (CA)




Royal Bank of Canada
Laurentian Bank of Canada
Caisse Centrale Desjardins
Banque Nationale du
Canada
United States (US)










American Express Bank Ltd
Bank of America N.A.
Citibank NA
Deutsche Bank Trust Co.
Americas
JPMorgan Chase Bank
Mellon Bank NA
The Bank of New York
Wachovia Bank
Wells Fargo
State Street and Trust Cy
Slide 51
Banks offering corporate access over SWIFTNet
ES PT
Spain (ES)







Banco Bilbao Vizcaya
Argentaria, S.A.
Banco Cooperativo Espanol,
S.A.
Banco Espanol de Credito
S.A.
Banco Popular Espanol
Caixa d'Estalvis i Pensions
de Barcelona "La Caixa“
Santander Central Hispano
Investment S.A.
Bankinter, S.A.
Portugal (PT)


Banco Comercial Portugues,
S.A.
Caixa Geral de Depositos,
Lisboa
Slide 52
Corporates on SWIFT
Industry sectors
Slide 53
Corporates on SWIFT by industry sector (3/6)
Financial Services










Citco
FINClear FZ-LLC
HIFX PLC
Korean Exchange Bank (3
entities)
Travelex
Mastercard
Moravski Penezni Ustav
Nyenburgh Beheer N.V.
RZB financial services (US)
Thomas Cook Al Rostamani
Food Products




Cargill
Danone
Nestle Espana
Kraft
Insurance



Aegon
Legal and Finance
Rural Grupo Asegurador
Slide 54
Corporates on SWIFT by industry sector (5/6)
Oil and Gas







Aramco
BP
Shell
Sonatrach
Lukoil
Total
Yara International
Personal Care

Yves Rocher
Pharmaceuticals

Johnson and Johnson
Rental and Leasing

Hertz
Slide 55
Corporates on SWIFT by industry sector (6/6)
Software


SAP
Synergex
Telecom Services



France Telecom
Telkom
UNI 2
Slide 56
The guiding principles of SWIFT are clear
To offer the financial services industry a
common platform of advanced technology
and access to shared solutions through
which each member can build its
competitive edge.
Slide 57
Thank you!
Questions and answers
Slide 58