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Poland Community Briefing2nd of December 2014, Warsaw
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DP 183: SWIFT2020: Strategic direction
Discussion Paper – DP 183
Confidentiality: Level 2 – Distribution to national member groups allowed
December 2014
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2006-2010
▪ FIN, InterAct, FileAct growth
▪ 50% Price Reduction
▪ Distributed Architecture
▪ FIN Renewal
▪ HSM Replacement
▪ FIN, InterAct, FileAct growth
▪ 50% Price Reduction
▪ Fixed Fee
▪ Distributed Architecture
▪ 100% FIN Growth
▪ 50% Price Reduction
▪ SWIFTNet Phase 2
▪ Alliance Lite2
▪ AMH
▪ Integration services (T2S connector, IPLA)
▪ Alliance Lite
▪ Alliance Integrator
▪ SWIFTNet capabilities to Access
▪ Business Intelligence, SWIFTRef, Sanctions, Matching
▪ MIRS
▪ Solutions: TSU, SWIFT Remit, FIX, Proxy voting
▪ Business Intelligence
▪ Solutions:– Cash reporting– E&I
2001-2006 2011-2015
Messaging & Platform
Software Business
Shared Services
Momentum from previous strategies
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DP 183
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SWIFT business model
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Disruptive forces…
cyber threat
regulation andmarket change
technology revolution
geopolitical challenges
changing customer behaviour
new competition
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Platform investments Operational excellence
FIN growthPricing measures
ISO 20022T2S, CLS, GLIIA & FA growth
Real Time Payments
Many-to-Many Market Infrastructures
AMH Cloud
Integration Services
BI, RefData, MyStandardsFaster/Deeper Compliance CB
Compliance for Securities?Services
MIRSBI, RefData, MyStandards
Services
Messaging
Software Business
Shared Services
Core
MIs
Compliance
Forward looking: SWIFT2020 – “What?”
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DP 183
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Consultation Phase 2
March ‘14 Board Offsite
June ‘14 IR
December ‘14 DP
June ‘15 ER
Strategy Exploration Strategy Definition
Consultation Phase 1
− Share Board offsite outcome− Gather community perspectives on the
baseline and five areas for exploration− Capture community needs and prioritise
− Highlight any gaps/ additional opportunities
− Consult based on key questions outlined in the DP
− Refine strategic direction & finalise recommendations
SWIFT2020 Timeline
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DP 183
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Feedback from you so far
• Core Payments and Securities
• CSD’s & Payment MI’s
• Corporates
• Faster & Deeper Compliance• RTP• Broader
Compliance
• P2P
70 consultation meetings worldwide• 500+ community representatives• 200+ financial institutions
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Continued emphasis on core business activities
Address evolving needs of market infrastructures
Focus on Compliance Services
Deliver on SWIFT2015 strategy and prepare for
SWIFT2020
2015 priorities
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Invest in our core business
• Cyber Security– Continue investing in prevention and detection– Additional supplier due diligence activities– Keep ramping up our cyber recovery capabilities – Further strengthen our internal intelligence capability
• FIN renewal– Start moving BICs (users) to the renewed FIN back-end component (Slice Processor or SP) – Progress development of the control component (SCP)
• Technology Lifecycle– Refresh of network equipment, Hardware Security Modules (HSMs), server hardware, database
and middleware for core SWIFTNet platform components, and provisioning infrastructure
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Focus on Compliance Services
• KYC registry service launch
• Sanctions Screening service enhancements:
– Screening of all transaction formats and message types (incl. securities messages)– Extend fine-tuning capabilities to cater for more complex clients
• Sanctions Testing– Launch peer assessment capabilities
• Compliance Analytics – Provide richer information and more flexibility for larger clients – Provide more standardised reports for smaller clients
• Qualify potential new services including Name/client screening, FATF 16, List Management, AML Testing & Tuning and RMA evolution
• Launch a dedicated effort to support the Securities industry, including the set up of a Securities Compliance Working group
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Address evolving needs of MIs
• Focus on Market Infrastructures– Protect existing traffic– Grow new markets– Develop segment-specific value propositions
• Roll out Products & Services Roadmaps including: – Messaging– Software and Shared Services– Services portfolio
– Community standards management
• Position SWIFT platform as natural choice for ISO 20022– Business-focused events and thought-leadership
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Supporting ISO 20022
Patrik NeutjensISO20022 Programme Director
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How many ISO 20022 initiatives are adopting ISO 20022?
128 Under discussion > planned > rollout > live
EuropeOceania
AmericasAfrica
90 countries
ISO 20022 PaymentsSecurities Trade Services51%Foreign Exchange
42%
4% 2% 1%
Cards
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15
Now
2015
2015 - 2017
> 2017
ISO 20022 impact
MyStandards
HVP SecuritiesPayments LVP LVP & HVP FX
Aware?
Prepare?
Budget?
Impact?
A bank’s perspective
CPA
SADC
PASA[EFT]
New BOJ-Net
NPPReserve Bank of Australia
FFI
VP Lux
IPFA
Corporate-to-bank
VP Securities
2015 - 2017
Baltic CSDs
NSD Russia
Brunei
TSE & Jasdec
Step2
Euro1
HKMA
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Thank you