Corporate connectivity

Report
SWIFT Middle East
Regional Conference
Corporate Connectivity
Abu Dhabi, March 2012
SWIFT Community
Banks
Payment Systems
Corporates
Clearing & Settlement
Systems
Insurance
Companies
Government
Institutions
Broker-Dealers
Stock Exchanges
Securities MIs
Depositories
Payments MIs
IMIs
SWIFT MERC Regional Conference - Abu Dhabi
Trustees
2
Connectivity – An evolving landscape
SWIFT for Corporates
Increasing number of banking relationships
Multi-banked
corporation
Host-to-Host Connectivity
Single bank
multiple
corporates in
a supply
chain
E-Banking Portal
Single clientto-bank
connection
Increasing corporate technical sophistication & international reach
SWIFT MERC Regional Conference - Abu Dhabi
3
“SWIFT for Corporates” value proposition
Multiple bank channels
Standardised gateway
Corporate
Corporate
VAN
Accounts
payable
Accounts
payable
host to host X
Accounts
receivable
Treasury
Accounts
receivable
Leased line
e-banking Y
Treasury
Internet
Other
SWIFTNet
Other
Single
gateway
Fax - emails
–
–
–
–
–
High cost
Security issue
Manual processing
Many parties involved
Multiple implementation skills
SWIFT MERC Regional Conference - Abu Dhabi
–
–
–
–
–
Enables visibility on cash globally.
Lower cost
Increased control and security
Reduced risk
Clear cost structure
4
Evolution of Financial services
Cash
Management
Treasury and
Risk Management
Trade Finance
MT101
MT103
MT940
SWIFT MERC Regional Conference - Abu Dhabi
MT798
FileAct
5
Competitive advantages for banks
 New value added benefits for your Bank:
•
•
•
•
•
Respond to corporate clients needs
Complete channel product range
Focus on value added services
provided over a standardized channel
Cross sell, gain additional business
 New value added services for your customers :
•
•
•
•
•
Centralized accounting
Real time visibility on funds and payment process
Bulk payment offer
Money market confirmation and real time matching
New banking opportunities (Trade, Funds…)
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SWIFTnet
Framework for SWIFT connectivity
Corporate
•Multi-banked, Seeking channel Standardisation
Membership
Connectivity
•Register on each Bank CUG and
•Listed on Stock Exchange of FATF country
obtain approval from each bank
•Nominated by a bank in FATF country
Direct
Indirect
Alliance Lite
•Infrastructure owned and
•Infrastructure owned and
•SWIFTNet connectivity
operated by customer
operated by Service Bureau
infrastructure via the intenet
Messaging
Services
SCORE
MACUG
FileAct
FIN
•File Transfer
•Treasury payment
•File formats supported : PAYMUL,
•MT Messages
iFile, iDoc, XML ISO20022
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Corporate access to SWIFT - Membership
An evolution
2007
SCORE
2001
MA-CUG
Corporate
A
Bank A
Bank B
Corporate
B
• Each bank sets up its
own CUG environment
– Corporates can join
several MA-CUGs
• No usage restrictions
SWIFT MERC Regional Conference - Abu Dhabi
Bank C
• Each bank joins the
SWIFT administered CUG
- Corporates access all
banks in SCORE
• Limited usage restrictions
8
Connectivity options
Direct connection
VPN
VPN
Network partners
Manage your own SWIFT connection
Indirect connection
VPN
Internet
or VPN
Outsource SWIFT connection
Service bureau or
Member/Concentrator
Alliance Lite
Web server
Internet
Work flow
SWIFTAlliance
Simple solution over Internet
SWIFT MERC Regional Conference - Abu Dhabi
SWIFT
9
Corporates on SWIFT
Where do we stand today ?
Geographical split
# registered corporate entities
Asia Pacific
902
726
9%
579
Americas
18%
402
73%
2008
2009
2010
10
SWIFT
MERC Regional Conference - Abu Dhabi
2011
EMEA
Corporates MENA Distribution
28 corporates
TD, 1
LB, 3
MA, 1
LY, 2
AE, 4
QA, 5
DZ, 1
IR, 1
KW, 3
SA, 7
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List of Corporates
in MENA
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Evolution of corporate traffic in MENA
Traffic Sent
Traffic Received
300,000
180,000
160,000
250,000
140,000
200,000
120,000
100,000
150,000
80,000
100,000
60,000
40,000
50,000
20,000
0
0
2007
2008
2009
2010
SWIFT MERC Regional Conference - Abu Dhabi
2011
2007
2008
2009
2010
2011
13
Corporates in MENA - 2011 Distribution of MT
sent with values
MT101
MT320
MT103
Chart Title
MT300
MT700
MT999
MT798
MT192
8% 1%
1%3%
25%
Volume sent
66%
96%
Value sent
SWIFT MERC Regional Conference - Abu Dhabi
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Corporates in MENA - 2011 Distribution of MT
received with values
MT320
MT910
MT900
MT300
MT103
MT548
MT202
Others
6% 1%1%
1%
3%
8%
6%
1%
22%
Volume received
47%
81%
23%
SWIFT MERC Regional Conference - Abu Dhabi
Value received
15
Case studies and customer testimonials
(5 year business case analysis)
Arcelor Mittal 600% ROI
DuPont 200% ROI
BELCORP
GE 410% ROI
Iberia 280% ROI
Microsoft
326% ROI
Novartis 120% ROI
Together with your
bank
we can
make your
business case
Petronas 410% ROI
EADS
Yves Rocher
T-Mobile 180% ROI
Swiss Re 4 x savings to investment
SWIFT MERC Regional Conference - Abu Dhabi
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SWIFT Secure Signature Key
SWIFT MERC Regional Conference - Abu Dhabi
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Current Landscape – The Corporate View
We have !!!
• No uniform mechanism
• Different system per bank
• Costly & difficult to maintain
SWIFT MERC Regional Conference - Abu Dhabi
We want
•
•
•
•
Multi-Bank
Multi-Application
Multi-Network
Multi-Country
18
Bank & Community Perspectives
•
•
•
•
Interoperable: multi-bank, multi-application, multi-channel and multi-country
Non-repudiation: PKI digital signature - WHO, WHAT, WHEN
Highly secure: personal certificates and secure keys stored on hardware token
Reducing costs: single shared CA infrastructure & operations
BUT
• Banks do not want to rely on registration activity and/or PKI
infrastructure of each other
• Each bank must do its own registration and comply with its own KnowYour-Customer rules
SWIFT MERC Regional Conference - Abu Dhabi
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Key benefits
For Corporates
One token, one process, one password across banks,
networks and countries
For Banks
Cost effective use of trusted shared infrastructure whilst
keeping control over the user identity (KYC)
For Vendors
Benefit from interoperable solution, easy to integrate
and can be used across banks globally
SWIFT MERC Regional Conference - Abu Dhabi
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3SKey in 5 steps
1
Obtain token
2
Activate token on
3SKey Portal
3
Register token with
one or multiple banks
4
Authenticate or sign
messages on multiple
channels
5
Check the CRL
Revoked ?
Revoked ?
John
=corp12345678
SWIFT MERC Regional Conference - Abu Dhabi
John
John
John
=corp12345678
=corp12345678
corp12345678
21
Why using 3SKey?
CORPORATE USERS
BANKS
• Multi-bank signing solution
• Better service to clients
• Reduced complexity & cost by
using single device & process
• Interoperability without reliance
amongst banks
• Secure solution using latest
cryptographic technology
• Cost reduction by using shared
infrastructure
SWIFT MERC Regional Conference - Abu Dhabi
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Roll-out Status
40 application
vendors
25 banking
groups
+9,000
activated users
+20,000 tokens
distributed
80
countries
SWIFT MERC Regional Conference - Abu Dhabi
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Thank you
SWIFT MERC Regional Conference - Abu Dhabi
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