SWIFT for Corporates

The essentials of switching to a multi-banking connection using SWIFT Corporate Access

What is it about?

The market issues for corporates that SWIFT Corporate Access addresses, what its value proposition is, what contractual constructions and services are available, what technical connection options exist, how it is integrated into the corporate environment, benefits and issues, how it relates to other banking infrastructure initiatives

Programme

The problems SWIFT Corporate Access is trying to solve

• Managing a multi-legal entity business
• National data standards and IT platforms
• Mismatch of electronic banking with customer’s reach and demands of centralisation/harmonisation
• What is the ideal environment that the centralised customer would like to work with
• How the SWIFT offering positions itself to meet these requirements

SWIFT Corporate Access - harmonisation of channel of communications

• SWIFT Corporate Access history
• Treasury Confirmations (MT3nn message series)
• Expansion into further message types and services
• MACUG – Member-Administered Closed User Group
• SCORE – Standardised Corporate Environment
• Business case examples

Connecting to SWIFT for a Corporate

• Elements of the technical connection
• Contracting with SWIFT
• IT environment at the corporate
• Connecting with Treasury Management System and with ERP
• Internal costs and SWIFT costs upfront and ongoing
• Business case

Connecting to SWIFT directly or via a Service Bureau

• What is a Service Bureau?
• How does using a Service Bureau alter the requirements qua effort, costs and resources, and the business case?
• Risks of using a Service Bureau
• What players are in the market as Service Bureaux?

Services on MACUG and SCORE

• Main differences in services available on MACUG as opposed to SCORE
• Treasury Confirmations (MT3nn)
• MT services (MT101, 940, 942)
• FileAct
• MX Services (pain, camt)
• XML services only available on SCORE: Exceptions and Investigations (E&I), and Electronic Bank Account Management (eBAM)

Benefits and Issues with MT services on MACUG and SCORE

• MT101 outcomes (book transfer, local RTGS/ACH, foreign transfer)
• MT942 (timing of updates, limitations of the message itself)
• MT940 (transaction detail, available balance)

ISO20022 – tie-in with SWIFT MX and SWIFT for Corporates

• History of ISO2002 through TWIST to CSTP to ISO to SWIFT MX
• Registration process and standards owner
• Significance of UML – Universal Modelling Language
• Physical layer
• Tie-in with SEPA
• Tie-in with SWIFT MX Migration, E&I and eBAM

Benefits and Issues with MX services on MACUG and SCORE

• Pain – payment initiation
• SEPA payments
• Camt – cash management (statements, advices)
• Exceptions and Investigations (E&I)
• Electronic Bank Account Management (eBAM)

How do you benefit?

You will gain a practical and quick orientation on scope, benefits and issues, and project scale to get a solution implemented.

Who is it for?

For CFOs, Treasurers, Shared Service Centre Managers, Chief Accountants, Heads of Accounts Payable and/or Receivable who want to learn about, or are considering or implementing, the merits of connecting to banks over the SWIFT network for Transaction Services bankers who wish to know more about SWIFT Corporate Access and its benefits viewed from a corporate perspective.

Trainer

• Bob Lyddon and guest speaker