swift for payment market infrastructures short version 7 stephane ernst, market manager for hvpmis...
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SWIFT for Payment Market Infrastructures Short version 7
Stephane Ernst, Market Manager for HVPMIs
Sep 2010
2
Basic concept of RTGS
• the continuous (real-time) settlement of funds individually on an order-by-order basis (without netting).
Real Time Gross Settlement
Settlement processing
Settlement finality
• an act that discharges obligations in respect of funds or securities transfers between two or more parties. A settlement may be final or provisional.
• settlement which is irrevocable and unconditional.
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
SWIFT for HVPMI Offering Presentation – Confidentiality: Public 3
Payment transaction processing
LiquidityManagement
Participant administration
Reporting Management
Business and operational functions of RTGS
Transaction input Validation Clearing & Settlement Notification
Liquidity management Reserve management
Payment investigation
Profile management Reference data
Operational Statistical Regulatory
4
SWIFT’s 5-pillars offering for Payment Market Infrastructures
Connect
PKI,HSM
InterfacesMessagingServices
Consulting
Training
Customer Support
FIN, InterAct,FileAct,
BrowseCopy
Alliance InterfacesIntegration tools
Security
Alliance Connect
Bronze/Silver/Gold
A comprehensive solution
Your Payment Market Infrastructure system
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
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Low-value payment MI
High-value payment MI
Direct Participants
Central bank
Participants
ACH
SWIFT offering for high value payments MIs
Indirect Participants
SWIFT offers
Standards (MT, MX)
Messaging (FIN, FINCopy, FileAct, FileAct Copy, InterAct, Browse, Mail)
Connectivity (SAA,SAG,SSA,SAL)
SWIFT Support
Payments processing
Cash management
Reference data
Reporting
Generic secure communication
Govt Entities
CSD
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
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MT 1xx, 2xx
MT 9xx
Ordering customer
Ordering customer’s
financial institution
Beneficiary customer’s
financial institution
Payments market standards
Beneficiarycustomer
Credit Transfers (Bulk and Single)
Cash Management
Direct Debits (Bulk and Single)
Exceptions and InvestigationsC
ash
Mgm
t (A
dv &
Sta
t)
Dire
ct D
ebit
Initi
atio
n
Exc
ept
& I
nves
tigat
ions
Cre
dit T
rans
fer
Initi
atio
n
UNIFI MX
MT
9xx
MT
101
MT-based
MT
9xx
Cas
h M
gmt
(Adv
& S
tat)
Exc
ept
& I
nves
tigat
ions
MT
MX/ISO 20022
COEXISTENCE
Payments market standardsSWIFT committed to support today and tomorrow standards
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
77
• The store-and-forward messaging service, FIN
• InterAct using MX UNIFI messages
• FINCopy is the most relevant solution for high-value payment systems wolrdwide
SWIFTNetFIN/InterActV-topology
InternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web server
Central institution
Payment instruction Notifica
tion m
essage
Bank A Bank B
FIN/InterAct transaction flow
Payment transaction processing:Payment per payment
SWIFTNetFIN Copy
InternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web serverBank A Bank B
FIN Copy transaction flow
Payment message
Payment message(settled)
Settlementrequest
Central institution
Authorisation/refusal
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
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• InterAct, provides interactive exchange of instructions between counterparties – Transfer funds between accounts – Change priorities of queued
payments – Modify intra-day credit limits to better
manage liquidity and collateral throughout the day in real time
• Browse, provides secure browsing to access the market infrastructures to monitor – Current positions of the settlement
account – Foreign exchange and credit risk
exposures– Transaction flow and status
Cash management and participant administration
SWIFTNet
InternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web server
Central institution
InterAct real-time information exchange
and control
Bank A Bank B
Browse onlineInfo query
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
99
• Report management, where volume and flexible structure are essential
• FileAct is ideal for exchanges of – Large reports: business,
statistical or regulatory reports
– Raw data– Directories
• FIN Inform can supplement FIN to report transaction
Report & directory management
SWIFTNet
InternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web server
Central institution
FileAct forreporting
Bank A Bank B
FileAct forreporting
FileAct for bulk reporting
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
SWIFT for HVPMI Offering Presentation – Confidentiality: Public 10
SWIFT can support a converged system using Y-topology
SWIFTNetInternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web server
Central institution
Bank A Bank B
Settlement request
Authorization/rejection
Payment file message settled
Payment file message
Settlement request
Authorization/rejection
Payment message settled
Payment message
FIN Y-topology for transaction-per-transaction payment flow
FileAct Header copyY-topology for Bulk or Batch payments flow
SWIFT for HVPMI Offering Presentation – Confidentiality: Public 11
SWIFT can support converged system using V-topology
FIN/InterAct V-topology for transaction-per-transaction payment flow
InternalPayment system
Participant A
SWIFT interface
Participant B
SWIFT interface
Payment processing Central web server
Central institution
Notification message
Bank A Bank B
Payment instructions
by File
Payment instruction by transaction
FileAct V-topology for Bulk or Batch payments flow
SWIFT for HVPMI Offering Presentation – Confidentiality: Public
PROJECT MANAGEMENT
End-to-end project management
SERVICE DESIGN
Requirement & Technical Design Specification
TRAINING
MI & Participant trained
SERVICE IMPLEMENTATION
Messaging Services implemented
PARTICIPANT DEPLOYMENT
Member Messaging Services implemented
SERVICE OPERATIONAL READINESS
Messaging services Go-Live
SERVICE OPERATION
Easy live
SWIFT services for payment market infrastructuresWhat
12
• Ordering and provisioning (*)• Alliance portfolio installation of the MI• SWIFTNet Messaging prototyping • Integration SWIFT Alliance/application
• Member registration follow-up• Supporting documentation • Deployment of the MI
participants
• Products• MI implementation
• Testing support• Operational
procedures
Project Management
Business consulting
Technical Consulting
Implementation delivery
Training
Customer Support
• Customer support packs
• Project Management plan• Monitoring• Problem management• Reporting
• Messaging landscape analysis• Payments STP review • Technical design • Integration design• Business Continuity planning• Disaster recover process
design• Design Security Best
Practices
SWIFT for HVPMI Offering Presentation – Confidentiality: Public 13
Delivering value and peace of mind
PROJECT MANAGEMENT
SERVICE DESIGN
PARTICIPANT DEPLOYMENT
TRAINING
SERVICE OPERATIONAL
READINESS
SERVICE OPERATION
SWIFT services for payments
Reduce Cost
Reduce Risk
Business Growth
SWIFT for PMIs - 28 October 2009 14
SWIFT support successful PMI transformationsAdopting SWIFT provides….
High-value payment MI
Central bank
Participants
Direct Participants
Low-value payment MI
ACH
Indirect Participants
CSD
Govt Entities
Participants Direct Participants
Participants/members with
State-of-the-art Reliability, Resiliency, Security and Customer Support
Right trusted third party services
Global reach and the interoperability
Business flexibility
HVPMIs with
High resilience and securityBusiness &operational cost efficiency
Comprehensive solutionRisk reduction
Focus on core serviceGlobal and community reach
SWIFT for HVPMI Offering Presentation – Confidentiality: Public 15
SWIFT for High value payment market infrastructures Live system market Status…
AfricaAngola Algeria BotswanaCentral African States (BEAC) EgyptGhana Kenya LesothoMauritius Morocco NamibiaSierra Leone South Africa Swaziland Tanzania Tunisia Uganda Zambia ZimbabweWest African States (BCEAO)
Asia PacificAustraliaFijiHong KongNew ZealandPhilippinesSingaporeSri LankaThailand
Central & Eastern EuropeAlbaniaAzerbaijanBosnia & HerzegovinaBulgariaCroatiaHungaryRomaniaLatvia
North AmericaCanadaUS (TCH)
Central & Latin AmericaBahamasBarbadosChileDominican Rep.ECCBEl SalvadorGuatemalaTrinidad & Tobago Venezuela
Western EuropeDenmarkEurozone (EBA-EURO1/STEP1 &TARGET2)NorwaySwedenSwitzerlandUK
Middle EastBahrainIsraelJordanKuwaitOmanUAE (DIFC)
Systems on Y Copy topology
62 systems90+ countries
62 systems90+ countries