SWIFT GPI Making your cross-border payments faster, more transparent and traceable
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1 SWIFT GPI Making your cross-border payments faster, more transparent and traceable Kai Liu Senior Solution Architect SWIFT JAPAN May, 2017
2 Agenda 1. What is the current adoption of GPI globally? 2. What is the value proposition for your customers? 3. How to integrate GPI with your local SWIFT Infrastructure? 4. Implementation Details
3 SWIFT GPI is live! 100 gpi member banks 224 Countries 75% of all payments traffic on SWIFT 21 Banks successfully piloted 12 Banks exchanging live gpi payments 60+ Country corridors e.g. US China, UK Denmark, UK Italy, UK Netherlands 3
4 1- What is the adoption of SWIFT gpi? 100+ member banks sending payments into more than 224 countries and territories; representing over 75% of all SWIFT crossborder payments AMERICAS EMEA APAC 20% 52% 28% ABN AMRO Bank ABSA Bank Agricultural Bank of China Alfa-Bank Australia and New Zealand Banking Group Axis Bank Banco Bilbao Vizcaya Argentaria Bangkok Bank Bank of America Merrill Lynch Bank of China Bank of Communications Bank of New York Mellon Bank of Nova Scotia Bank of the Philippine Islands Bank of Tokyo-Mitsubishi UFJ Banco Bradesco Banco Santander Banco de Crédito del Peru Banco do Brasil Banorte Banque Européenne d Investissement Barclays Bidvest Bank BNP Paribas Budapest Bank CaixaBank Canadian Imperial Bank of Commerce China Construction Bank China Merchants Bank Citibank Commonwealth Bank of Australia Commerzbank Crédit Agricole Crédit Mutuel-CIC Banques Credit Suisse CTBC Bank Danske Bank DBS Bank Deutsche Bank DNB Bank Ecobank E.Sun Commercial Bank Erste Group Bank Fifth Third Bank FirstRand Bank Handelsbanken Helaba Landesbank Hessen- Thüringen HSBC Bank ICICI Bank IndusInd Bank Industrial and Commercial Bank of China ING Bank Intesa Sanpaolo Intl. FCStone Investec Itaù Unibanco JPMorgan Chase Bank Kasikornbank KBC Bank KEB Hana Bank Lloyds Bank Mashreq Bank Maybank Mizuho Bank National Australia Bank Natixis Nedbank Nordea Bank Oversea-Chinese Banking Corporation PKO Bank Polski Promsvyazbank Rabobank Raiffeisen Bank International Resona Bank Royal Bank of Canada Royal Bank of Scotland Sberbank Siam Commercial Bank Silicon Valley Bank Skandinaviska Enskilda Banken Société Générale SpareBank 1 Standard Bank of South Africa Standard Chartered Bank Sumitomo Mitsui Banking Corporation Swedbank Tadhamon International Islamic Bank TMB Bank Toronto-Dominion Bank UBS U.S. Bank UniCredit United Overseas Bank Wells Fargo live on gpi
5 Agenda 1. What is the current adoption of GPI globally? 2. What is the value proposition for your customers? 3. How to integrate GPI with your local SWIFT Infrastructure? 4. Implementation Details
6 Value for banks Reduce Costs Delight Customers Grow Business Increase operational efficiency in your customer claims and investigations management Ability to do cash forecasting and optimise your liquidity management Significantly increase customer satisfaction by offering speed, certainty, transparency and a confirmation of credit for cross-border payments Build a reputation of leader in global payments innovation Retain and attract new customers Sell payments services to third parties 6
7 Value for corporates Accounting & core functions Better cash flow management Speed and visibility on critical payments Certainty for buyers and sellers Transparency on bank fees Reduced exception handling & investigations Budgeting, planning and forecasting Enhanced predictability and traceability Greater planning and decision making Improved reconciliation and forecast reporting Treasury & Cash Management Reduced settlement time Leverage investment opportunities Higher visibility for capital and credit management Reduced FX risk 7
8 SWIFT gpi: secure, faster, traceable & transparent cross-border payments Your bank Intermediary bank 2 Traceable End-to-end payment tracking gpi a1700db1-90b d8-6309c5c34a3d Invoice Your company SWIFTgpi Rulebook $ 1 Faster payments Same day use of funds* Beneficiary s bank Beneficiary 3 Transparent fees Deducts and FX 4 Full remittance data Unaltered reconciliation info *Within the time zone of the receiving gpi member
9 New services in the pipeline: Rich payment data Request for cancellation International Payment Assistant SWIFTgpi STOP SWIFTgpi Account number? BIC? Passport required? Beneficiary? SWIFTgpi Rich remittance information, invoices, compliance documents, etc. Stopping unsolicited payments (double payment, manual errors, fraud) Validation of payments before execution v2 Q
10 Agenda 1. What is the current adoption of GPI globally? 2. What is the value proposition for your customers? 3. How to integrate GPI with your local SWIFT Infrastructure? 4. Implementation Details
11 gpi payment flow as is 1. Identify as gpi & route payment 2. Generates 103 with UETR which will create transaction in payments tracker 1. Pass-through UETR in a new MT Update status in tracker 1. Credit the payment 2. Confirm to tracker Originator MT103 +UETR MT103 + UETR BANK 1 BANK 2 BANK 3 Status update (MT199/API) Payments tracker Beneficiary SWIFTgpi
12 How GPI MT103 looks
13 Bank payment application How to implement gpi automated flows? Middleware to multiple payment systems Alliance Access Alliance Entry AMH Alliance Lite2 Other interface Corporate to Bank Transactions eportal Unique transaction references? Confirming payments? Tracking of payments? Routing decisions? Inform corporate clients? SWIFT gpi Payments Tracker 13
14 Bank payment application Implement gpi fast and smooth, with minimal impact on bank s applications Middleware to multiple payment systems Corporate to Bank Transactions eportal gpi Connector Software (*) Generate transaction reference Generate gpi confirmations Access to gpi Tracker (API) Access to gpi Directory (API) Determine if a gpi route is possible Customisable, to speak the language of your application Alliance Access Alliance Entry AMH Alliance Lite2 Other interface Independent of the FIN interface (*) The listed features are tentative SWIFT gpi Payments Tracker 14
15 GPI Connector Introduction What is Connector Mandatory SWIFT software to communicate with gpi Tracker (using API) Hosted at customer premises Acts as the interface between backoffice applications to gpi Tracker Connector Functions Expose gpi Tracker API to backoffice applications Requires configuration to setup connectivity to Tracker Customer needs Burden of gpi technical compliance placed on customer (UETR, type code) All integration handled in bespoke manner
16 gpi client architecture types Multiple payment systems, geographically distributed, multiple currencies. No corporate information Own Payment Systems Payment Systems Vendor Payment Payment Systems Systems FIN FIN FIN interface FIN interface Middleware consolidates multiple BO, Corporate web application queries Tracker via API Own Payment Systems Payment Systems Vendor Payment Systems Payment Systems Corporate Portal exception management Middleware FIN API Queries FIN interface FIN interface API Updates gpi connector Corporate web application updated via MT199 Payment Systems Payment Payment Systems Systems Corporate Portal FIN FIN transaction status DB FIN interface FIN interface 16
17 gpi high level flow License Service gpi connector gpi connector installation and configuration (2 md) gpi MT msg Normal MT msg FIN service Proprietary msg gpi MT103 SAA AMH 3 rd party S/W gpi MT199 Customer applications gpi connector (API) Embedded Or Standalone API gateway gpi tracker Customers need to develop its back office based on gpi specification and fulfill gpi SLA requirements SWIFT 17
18 gpi connector with additional integration License Service IPLA + gpi connector gpi connector installation and configuration + Integration services gpi MT msg Normal MT msg FIN service Proprietary msg Normal MT103 MQ File SOAP Alliance Access Integration solution gpi MT103 API gateway gpi MT199 Customer applications Customers need to fulfill gpi SLA requirements Eg: trigger a status update gpi connector (API) Embedded Or Standalone FileAct Auto Sent gpi tracker gpi directory _ No RESTful Process Benefits of gpi unchanged + API development + MT103 format Possible hybrid model SWIFT 18
19 Tracker screen: In progress transaction 19
20 Tracker screen: Completed transaction 20
21 gpi Integration Safety Net (IPLA only) Legend: = Moment of receipt of MT103 gpi = Unconfirmed MT103 gpi = Time covered in one Safety Net cycle = Available time to confirm MT103 gpi Business Day N Business Day N+1 gpi cut-off Safety Net time gpi cut-off Safety Net time Multiple cut-offs (depending on currency) Cut-off < Safety Net time < EOD Non-business days retrieved from Calendar (IPLA only) Cut-offs and Safety Net time configurable 21
22 Tracker database is accessible via 3 channels each bank can choose its preferred ways to connect: could be a mix of the 3 GUI MT199 API How to report status? N/A MT199 sent to SWIFT s tracker BIC (TRCKCHZZ) API query, over SWIFTNet, same contents than MT199, JSON format How to get status updates? Visualization of the transaction status and details in a Graphical User Interface MT199 sent from Tracker BIC (one message per event) API query/response Typical Use Case Exception management or Investigations on specific payments Payment status stored locally for further processing (internally or towards clients) Get payment information on demand for a query initiated by a third party application 22
23 Benefits of using each connectivity option Characteristics comparison API uses WebAccess (Browse) service, MT199 uses FIN service API enables instructed bank to know that an inwards payment is coming API contains the receiving timestamp of each bank, the MT199 does not API is used as an online pull of information, MT199 is a push API is synchronous, MT199 is asynchronous Benefit of using API 1) Instructing banks existing FIN traffic will not be affected since WebAccess is segregated from FIN 2) Multiple MT199 can be received per transaction as opposed to a single API call 1) Instructed banks have a new source of information to forecast liquidity 1) Remitters can calculate the time each bank in the chain took to process the transaction 2) Remitting bank can check the service level of their correspondents 1) API does not require inhouse storage of information as information can be retrieved from Tracker 2) API information can be retrieved multiple times. MT199 cannot be re-requested if the MT199 message was not consumed properly 3) Banks using API can control when the information is retrieved or sent 1) Immediate error handling with API calls - Error status of API call is known immediately Benefit of using MT199 1) Familiarity with FIN 1) Not Applicable 1) Not applicable 1) Passive receipt of MT199 2) Gpi data is stored inhouse and not subject to SWIFT Allowable Downtime Window 1) Almost immediate update of status 23
24 A simple look 24
25 Alliance Access & AMH customers gpi connector embedded Back office applications RESTful services gpi connector API to Tracker Alliance Access AMH SWIFT Requests & confirmations gpi Tracker authentication IdP Alliance Gateway HSM 25
26 Other interfaces & AMH customers gpi connector standalone Back office applications RESTful services gpi connector API to Tracker Requests & confirmations SWIFT gpi Tracker authentication Other interfaces AMH IdP Alliance Gateway HSM 26
27 Lite2 customers using tokens today on Internet Back office applications RESTful services gpi connector API to Tracker Requests & confirmations gpi Tracker AutoClient MV-SIPN authentication IdP Internet Lite2 27
28 Agenda 1. What is the current adoption of GPI globally? 2. What is the value proposition for your customers? 3. How to integrate GPI with your local SWIFT Infrastructure? 4. Implementation Details
29 SWIFT Onboarding Bank Part of the Live gpi Community Indicative Planning of a gpi Onboarding Project Initiation Implementation Certification ~ 10 weeks ~ 5 months ~ 3 weeks ~ 3 weeks ~ 1 week Business Req s Func / Tech Design Development In-house Dev Bilateral Testing (T&T) Community Testing (T&T) Penny Testing (LIVE) Gap / Impact Analysis Receive / Install Patch Unit & System Testing and/or Vendor package Solution Architecture Configuration & Testing Project Mgt Plan Project Management Project Kick-Off Start Implementation Ready for Start of Certification Process Ready for Community Testing Certified by SWIFT Ready for Go-Live Provide necessary info on gpi impact, rules, and address questions & issues Process questionnaire answers Involved in vendors questions when needed Assistance when required (Q&A mode) and ad hoc communications Track progress via monthly meetings and dashboard Joined preparation of the certification process (test catalogue, pre-requisites, ) Act as a sparring partner allowing the Onboarding Bank to successively test in the roles of instructing, instructed and intermediary agent. Faciliate the organization of integrated tests with other (Live or Onboarding) banks Live controlled usage, with execution of limited number of scenarios with minimal amounts 29
30 SWIFT gpi for Corporates - Webinar update - Internal
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