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Transcript of Slide 1 Cartagena - Agosto 2005 Introdución a SWIFT: Facilitando ventajas competitivas a través de...
Slide 1
Cartagena - Agosto 2005
Introdución a SWIFT:Facilitando ventajas competitivas a través de estándares comunes y una plataforma compartida
Lambert Timmermans
Gerente América Latina, SWIFT sc
Slide 2
SWIFT Plenary - Agenda
The 2010 Strategy of SWIFT SWIFT in Latin America SWIFTNet solutions helping you building
competitive advantage
Slide 3
SWIFT Plenary - Agenda
The 2010 Strategy of SWIFT SWIFT in Latin America SWIFTNet solutions helping you building
competitive advantage
Slide 4
SWIFT - connecting the financial communityBanks
(Founding - 1973)
IMI's (1992)
Corporates (2001)
Insurance IMI's (2001)
Payments MI's(1998)
Securities MI's(2000)
Government institutions (2001)
Trustees(1990)
Broker-dealers (1987)
Paymentsystems (1987)
Clearing & Settlementsystems (1987)
Depositories (1987)
Stock Exchanges (1987)
Treasury Counter-parties
(1999)
Slide 5
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 6
Other Other Exchanges Exchanges
InvestmentInvestmentManagersManagers
Transfer Transfer AgentsAgents
ETC providersETC providersInfrastructuresInfrastructures
and VMUsand VMUs
Broker-Broker-dealersdealers
SWIFT
BanksBanks
Stock ExchangesStock Exchanges
User User Groups Groups
ICSDs & CSDsICSDs & CSDs
InsuranceInsurancecompanies companies
Single window connectivity for the industry
Creating STP momentum for the industry
PensionPensionFundsFunds
CorporatesCorporates
Slide 8
2005 Pricing initiatives
FIN Price reductions
Reporting Non-Reporting
Domestic 20% 5%
Intra-Bank 30% 18%
International 20% 7%
Average reduction = 8%
Slide 10
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 11
Pricing and traffic Harnessing economies of scale
5
10
15
20
25
30
35
40
45
50
0
500
1000
1500
2000
2500
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
Price(EURcent/msg)
Traffic(Millions of messages)
Price
Traffic
Slide 12
SWIFT’s changing market mix
Share of SWIFT messaging revenues (EUR)
0%
20%
40%
60%
80%
100%
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Securities MI
Securities
Banking MI
Banking
Slide 13
SWIFT: la red mundial en 20057,678 instituciones financieras7,678 instituciones financieras
203 paises203 paises
Dia pico: 10,958,655 Dia pico: 10,958,655
Disponibilidad : 99.999%Disponibilidad : 99.999%
Pagos/576 MM msgs
Comercio /19 MM msgs
Tresoreria/65 MM msgs
Valores/338 MM msgs
Crecimiento
Pagos 6%
Tresoreria 5%
Com. Ext 1%
Valores 11%
Slide 15
Banking market infrastructures in 2005Albania France CRI SingaporeAngola Germany (RTGSplus) Slovenia (SIPS, GIRO) Australia Ghana South Africa (SAMOS) Austria (ARTIS) Greece South Africa (BOP, ZCL)Azerbaijan Hungary Spain (SLBE)Bahamas Guatemala Sri LankaBelgium Italy (BI-REL) Sweden (RIX, BGC)Barbados Ireland SwitzerlandBosnia Herzegovina Jordan TanzaniaBulgaria Kuwait ThailandCanada Latvia Trinidad & TobagoChile LCH TunisiaCLS Bank Luxembourg UgandaCroatia Malta UK NewCHAPSDenmark Mauritius VenezuelaEBA (EURO1) Namibia West African Monetary EBA (STEP1, STEP2) New Zealand UnionECB (TARGET) Netherlands (TOP) Egypt Netherlands (Interpay) USA (CHIPS, Fedwire)Eurogiro Norway ZambiaFinland Philippines Zimbabwe
Romania
Slide 17
Securities market infrastructures 2005
CREST
Euroclear Bank Clearstream
Strate
SISSIS X-clear
Euroclear NL
ECSDA
…and others!Johannesburg SE
Sydney Futures Exchange
Singapore SE
Omgeo
DTCCISCC
LCH.Clearnet
HKMA
Eurex
Euroclear FR
London Stock Exchange
Tokyo Stock Exchange
Iberclear JSCC
Slide 18
Increasing resilience - 4 Pillars II
Sec
uri
ty
Peo
ple
Cri
sis
mg
mt
Ser
vice
co
nti
nu
ity Physical and cyber security
Personnel processes Service continuity Crisis management
Slide 19
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 20
SWIFT Plenary - Agenda
The 2010 Strategy of SWIFT SWIFT in Latin America SWIFTNet solutions helping you building
competitive advantage
Slide 21
SWIFT en América Latina
8.2 MM msg (+ 17%)
699 usuarios activos
47 paises
Service Bureaus
Organisacion regional SWIFT
Migracion SWIFTNet
Sistemas de pagos
Conferencia Reg. 2005
Acceso corporativo/Ma-CUG
Slide 22
Pagos 20 %
Tresoreria -12 %
Valores 13 %
Com. exter 2 %
Total 18 %
Crecimiento
2. SWIFT Trafico en America Latina: por mercado (Mayo 2005)
% Cuota
Valores5% Com. Exter.
6%Tresoreria
3%
Pagos86%
Tot Msg(Sent)
8.7 mio
Slide 23
Traffic2004 Top 20 countries and Latin America
Latin America
0
50
100
150
200
250
300
350
400
450
GB US DE FR BE IT NL CH JP LU HK ES AU SE ZA CA AT SG DK FI
Millions
Slide 24
Growth2004 Top 20 countries, Latin America and "RIC's"
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
IT AT JP IN RU CN US GB FI HK AU BE CA SE ZA DE LU SG FR DK NL ES
CH
Latin America
Slide 25
Latin America traffic2004 Top 10 countries
4.1 4.1
2.0
1.51.3
0.8 0.7 0.6 0.6
2.6
0.9
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
MX BR VE CL AR CO EC PE PA AN Others
Millions
Slide 26
Latin America growth2004 Top 10 countries
44%
40%
29%
24%
18%
11% 10%8%
16%14%
-1%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
CL VE CO MX AR EC BR PE AN PA Others
Slide 27
SWIFT Plenary - Agenda
The 2010 Strategy of SWIFT SWIFT in Latin America SWIFTNet solutions helping you building
competitive advantage
Slide 28
Proprietary connections: IT Iceberg concept
hardwarehardware
softwaresoftware
lineslinesmaintenancemaintenance
supportsupport
releaserelease qualificationqualification
testingtesting
backupbackup
disaster take-overdisaster take-overexercisesexercises
legallegal
softwaresoftware maintenancemaintenance
project managementproject management
procurementprocurement
educationeducation
documentationdocumentation
Slide 29
SWIFTNet - main features SWIFTNet messaging product offering
BrowseBrowse Online information visualisationOnline information visualisation
FileActFileActReal-time file transfer forReal-time file transfer forbulk payments files and reportingbulk payments files and reporting
FINFIN Standard store-and-forwardStandard store-and-forwardmessaging for single instructionsmessaging for single instructions
InterActInterActReal-time messaging for Real-time messaging for query / response and transaction inputquery / response and transaction input
Slide 30
SWIFTNet: single window access to the financial world
Business solutions Customer solutions
SWIFTNet FIN Market infrastructures
SWIFTNet
Enabling thecommunity
More than 7,000 FIN correspondents in
more than 200 countries
FX-AccordFIXCash reportingProprietary reportingBulk paymentsSecurities reportFunds mngntBrowsing
Broader range ofbusiness solutions
Corporate access / MA CUG
Extended reach
RTGSplusCLSi-C&S (NYCH)Euroclear BankClearstreamChile LBTR …
Single windowaccess to MI’s
Slide 31
SWIFTNet: single window access to the financial world
Business solutions Customer solutions
SWIFTNet FIN Market infrastructures
SWIFTNet
Enabling thecommunity
More than 7,000 FIN correspondents in
more than 200 countries
FX-AccordFIXCash reportingProprietary reportingBulk paymentsSecurities reportFunds mngntBrowsing
Broader range ofbusiness solutions
Corporate access / MA CUG
Extended reach
RTGSplusCLSi-C&S (NYCH)Euroclear BankClearstreamChile LBTR …
Single windowaccess to MI’s
Slide 32
Example of FIN Use a single standard with all counter-parties
Request for Transfer (MT101)
Credit/debit advice (MT900/910)
Intra-day Statement (MT942)
End of day Statement (MT940)
Notice to receive (MT210)
A complete set of standard messages that allow end to end automation
FINFIN for treasury and liquidity management FINFIN for treasury and liquidity management
Slide 33
FIN for liquidity management Automate investment and borrowing activities
…. + an extensive set of standards to automate your collateral management and corporate actions
Order to buy/sell (MT502)
Statement of holdings (MT535)
Settlement instructions (MT540/1/2/3)
Confirm of purchase/sale (MT515)
Settlement confirmations (MT544/5/6/7)
FINFIN for liquidity management FINFIN for liquidity management
Slide 34
Financial risk managementAutomated matching with SWIFTNet Accord
SWIFT
AccordReal-time
Confirmation Matching
Accordsubscriber
Accordsubscriber or
non- subscriberCopies of
confirmationsReal-time interactive
Reporting and Exception handling
SWIFTNet Accord further reduces costs and operational risk
FINFIN and AccordAccord for financial risk managementFINFIN and AccordAccord for financial risk management
Slide 35
SWIFTNet: single window access to the financial world
Business solutions Customer solutions
SWIFTNet FIN Market infrastructures
SWIFTNet
Enabling thecommunity
More than 7,000 FIN correspondents in
more than 200 countries
FX-AccordFIXCash reportingProprietary reportingBulk paymentsSecurities reportFunds mngntBrowsing
Broader range ofbusiness solutions
Corporate access / MA CUG
Extended reach
RTGSplusCLSi-C&S (NYCH)Euroclear BankClearstreamChile LBTR …
Single windowaccess to MI’s
Slide 36
SWIFT provides a total solutionfor payments and settlement systems
Automated clearing houses
Bulk payments
Real-time gross settlement systems
Settlement instructions
FIN FIN Copy InterAct FileAct
Central securities depositories
DVP instructions
Real-time query/control
Reporting
Settlement instructions
Real-time query/control Real-time query/control
Reporting
Banking correspondents
Payments
Bulk payments
R-t cash reporting
Settlementinstructions
Slide 37
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 38
Payments Markey Infrastructures (May 2005)
Angola (RTGS)ECB TARGET2Kenya (KPS)Singapore (MEPS+)
Austria (ARTIS)Bahamas (RTGS)Bahamas (RTGS)Barbados (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)Trinidad and Tobago (RTGS)Venezuela (PIBC)Venezuela (PIBC)W. African Monetary Union (BCEAO)
Austria (ARTIS)Chile (COMBANC)Chile (COMBANC)CLS BankEBA (STEP2)EurogiroGermany (RTGSplus)Italy (BIREL)Luxembourg (LIPS)South Africa (BOP)UK (EnquiryLink)
Algeria (RTGS)Bank of Central African States (BEAC)ECB TARGET2Guatemala (RTGS)Guatemala (RTGS)Oman (RTGS)Pakistan (RTGS)
SWIFTNetFIN
IrelandItalyJordan Latvia LuxembourgMauritiusNamibia New ZealandNorwayPhilippines SloveniaSpain (SPI)Sri LankaSwedenTanzaniaUK NewCHAPS (€ & £)Zimbabwe
CHIPS (TCH)EurogiroSlovenia (Giro)Sweden (BGC)UK (BACS) Georgia (ACH)Hungary (VIBER Monitor)Tanzania (ACH)UK (BACS)USA (EPN)
Dominican Republic (RTGS)Dominican Republic (RTGS)Fiji (RTGS)Russia (RTGS)
Discussion
Albania (RTGS)Australia (PDS)Azerbaijan (AZIPS)Bosnia Herzegovina (BIH)Bulgaria (RTGS)Canada (LVTS)Chile (LBTR)Chile (LBTR)CLS BankCroatia (HSVP)Denmark (KRONOS)EBA (EURO1 & STEP1)Egypt (CBE)France CRI (PNS/TBF)Germany (RTGSplus)Ghana (RTGS)Hungary (VIBER)Ireland (IRIS)Italy (BIREL)
FIN Copy
Albania (AECH)ECB TARGET2Netherlands (InterPay)Singapore (MEPS+)Slovenia (GIRO)Spain (NSLBE)Sweden (BGC)USA (CHIPS)USA (Fedwire)
Jordan (RTGS)Latvia (RTGS)Luxembourg (LIPS)Mauritius (RTGS)Namibia(RTGS)New Zealand (AVP)Norway (NICS)Philippines(RTGS)Romania (RTGS/CSD)Slovenia (SIPS)South Africa (ZCL)Sri Lanka (RTGS)Sweden (RIX)Tanzania (RTGS)Uganda (RTGS)UK (NewCHAPS)Zambia (RTGS)Zimbabwe (ZET)
Implementation
Planning
Live
Slide 39
US BanksUS Banks
SWIFT
Single payments
RTGS
FEDNET
FEDACH
FedWire
Ex. Contd: SWIFTNet expands the options for US banks
TCH
EPNACH
CHIPSFedWire CHIPS FI’s
Bulk payments / Files
FEDACH
ACHsEPN ACH
FI’s
Dedicated link
Dedicated link
New SWIFT flows (InterAct and FileAct)Existing SWIFT flows (FIN)
Single SWIFTNet connection
Slide 40
SWIFTNet: single window access to the financial world
Business solutions Customer solutions
SWIFTNet FIN Market infrastructures
SWIFTNet
Enabling thecommunity
More than 7,000 FIN correspondents in
more than 200 countries
FX-AccordFIXCash reportingProprietary reportingBulk paymentsSecurities reportFunds mngntBrowsing
Broader range ofbusiness solutions
Corporate access / MA CUG
Extended reach
RTGSplusCLSi-C&S (NYCH)Euroclear BankClearstreamChile LBTR …
Single windowaccess to MI’s
Slide 41
The Bulk Payments Solution is based onSWIFTNet FileAct
Authenticity, integrity, confidentiality, non-repudiation
Flexible central routing
Any type of file up to 250Mb, compression supported
File transfer initiation
Delivery notification (optional)
Sender Receiver
Actual file transfer
File transfer status
File transfer status
1
2
3
FileActFileActFileActFileAct
Slide 42
SWIFTNet FileAct addressesyour present end-to-end bulk payment needs
FinancialInstitution
Customer Customer
FinancialInstitution
AutomatedClearingHouse
Standardised file transfer platform
Support of existing file formats
Global reach Highly secure and
cost effective
SWIFTNet FileAct
SWIFTNet FileAct
SWIFTNet FileAct
Slide 43
FIN MT 103 / MT 202
Intraday FIN MT 900/910/942
End of day FIN MT 950
Account servicinginstitution
Account owner
1. What is SWIFTNet Cash Reporting?
SWIFTNet Cash Reporting
-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
Slide 44
Market infrastructure cash management
SWIFTNet Cash Reporting supports your real-time information needs
Real-time Nostroaccount information
Real-time cash reporting for corporates
SWIFTStandards XMLSWIFTStandards XML
Slide 45
Service User person to application possible configurations
SA WebStation
Admin GUI
Messenger GUI
SWIFTNet RTNAI service
SNJ SAG
SNL
SA Starter SetSA Access
RAHA
SA WebStation
Admin GUI
Messen
ger GUI
SWIFTNet RTNAI service
SAG
SNL
SA GatewayRAHA
SA WebStation
Admin GUI
Messenger GUI
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 46
SWIFTAlliance Starter Set
File transfer
GUI
SWIFTNet Link
The SWIFTAlliance Starter Set
SWIFTAlliance Entry
or Access
Customer Solutions
SWIFT BusinessSolutions
SWIFTNet FINMarketinfrastructures
Financial institution
Generic SWIFTNet messaging services
InterAct FileAct Browse
The SWIFTNet single window:
The SWIFTAlliance Starter Set opensthe single window
Slide 47
SWIFTAlliance Starter Set
File transfer
GUI
SWIFTNet Link
The SWIFTAlliance Starter Set
SWIFTAlliance Entry
or Access
Customer Solutions
SWIFT BusinessSolutions
SWIFTNet FINMarketinfrastructures
Financial institution
Generic SWIFTNet messaging services
InterAct FileAct Browse
The SWIFTNet single window:
The SWIFTAlliance Starter Set opensthe single window
Slide 48
SWIFTNet: single window access to the financial world
Business solutions Customer solutions
SWIFTNet FIN Market infrastructures
SWIFTNet
Enabling thecommunity
More than 7,000 FIN correspondents in
more than 200 countries
FX-AccordFIXCash reportingProprietary reportingBulk paymentsSecurities reportFunds mngntBrowsing
Broader range ofbusiness solutions
Corporate access / MA CUG
Extended reach
RTGSplusCLSi-C&S (NYCH)Euroclear BankClearstreamChile LBTR …
Single windowaccess to MI’s
Slide 49
e-banking Y
host to host X
e-banking Z
VAN
“fax-banking”
Internet
Leased line
PSTN
Corporate client
Accountspayable
Accountsreceivable
Treasury
Other
Streamlining with heterogeneous systems is a challenge
How can banks help ?How can banks help ?
Slide 50
One platform Full STP Highest level of
security and resiliency
Lower costs Reduced risk Improved control
SWIFTNet
Corporate client
Accountspayable
Accountsreceivable
Treasury
Other
SWIFTNet interface
Banks can help by offering access over a secure standardised channel
Slide 51
Banks offering corporate access over SWIFTNet Americas
Royal Bank of Canada Laurentian Bank of Canada Caisse Centrale Desjardins Banque Nationale du Canada
Canada (CA)
Mexico (MX)
BBVA Bancomer, S.A. 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
United States (US)
Brazil (BR)
Banco do Brasil
Slide 52
Banks offering corporate access over SWIFTNet ES PT
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.
Spain (ES)
Banco Comercial Portugues, S.A.
Caixa Geral de Depositos, Lisboa
Portugal (PT)
Slide 54
Corporates on SWIFT by industry sector (3/6)
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
Financial Services
Cargill Danone Nestle Espana Kraft
Food Products
Aegon Legal and Finance Rural Grupo Asegurador
Insurance
Slide 55
Corporates on SWIFT by industry sector (5/6)
Aramco BP Shell Sonatrach Lukoil Total Yara International
Oil and Gas
Yves Rocher
Personal Care
Johnson and Johnson
Pharmaceuticals
Hertz
Rental and Leasing
Slide 56
Corporates on SWIFT by industry sector (6/6)
Software
SAP Synergex
Telecom Services France Telecom Telkom UNI 2
Slide 57
The guiding principles of SWIFT are clearThe guiding principles of SWIFT are clear
To offer the financial services industry a To offer the financial services industry a common platform of advanced technology common platform of advanced technology
and access to shared solutions through and access to shared solutions through which each member can build its which each member can build its
competitive edge.competitive edge.