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Presentation from the SWIFT Benelux Forum held in La Hulpe on 19/20 March 2014
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Benelux Forum
SWIFTRef update
Visit us at www.swift.com/swiftref
Benoit Pirotte 19 March 2014 SWIFT, La Hulpe
Agenda
The SWIFTRef progress
SWIFTRef portfolio
today 2014 focus
Roadmap forward
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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, Holidays OTHER TYPE MT094 (broadcasts)
All above data and more! [correspondent banking data: financial data, credit rating, ownership, contacts…]
Dat
aWis
e
(ex-
BET
sw
)
New Q1
New Q2
SWIFTRef portfolio today
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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
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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
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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
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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
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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
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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
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Contact: [email protected]
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
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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
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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
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Customer Adoption Roadmap forward
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Questions ?
Data, maintenance screen
All Bank IDs
Only Bank IDs used in IBANs
BICs associated
with IBANs
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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!!!)
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Link to
Update data
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
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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 영업부 2920010
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
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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)
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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.
Start your free trial today via
www.swift.com/SWIFTRef
For more information, please visit
www.swift.com/SWIFTRef
Contact us directly at
