sepa end-date & corporate access - nordea · sepa end-date & corporate access webinar 9...
TRANSCRIPT
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Welcome
Webinar organizer:
Mikael Kepp, Vendor relationship management
12/15/2015
2 •
Agenda
SEPA End-date – what is the law and what
are the practical implications
Speaker:
Carsten Thaarup
Chief Expert - Infrastructure
Corporate Access – Nordea’s new payment and
file transfer solution
Speaker:
Per Nordkvist
Global Business Developer
Migration activities – moving customers to new
SEPA compliant solutions
Speaker:
Hans-Erik Forsgren
Global Business Developer
12/15/2015
3 •
• This webinar will be recorded
• Microphones are muted for all
participants
• Questions are very welcome
• Please use the
question feature
• All questions/answers will be
circulated to all participants
afterwards
• Slides will also be circulated afterwards
Practicalities
Microphones are
muted
12/15/2015
4 •
Carsten Thaarup, Cash Management
9 December 2015
SEPA End-Date
Regulation
Main impact of the EU Regulation
Agenda – SEPA End-date
• Background for the SEPA End-date
• Essential dates and impact
• SEPA Credit Transfer changes expected in the future
12/15/2015
6 •
• Background for the SEPA End-date
• Essential dates and impact
• SEPA Credit Transfer changes expected in the future
Background for SEPA End-date Regulation
12/15/2015
8 •
• Lisbon agenda
• Missing aligned regulation → PSD (Payment
Service Directory)
• SCT introduced during 2008
• SCT – ‘the obvious choice’
• This was not achieved
• No benefits for most stakeholders
• Therefore The SEPA End-Date Regulation
Migrating to the Single Euro Payments Area
– Key dates
2014
* As of these dates, existing national euro credit transfer and direct debit schemes will
have to be phased out and replaced by SEPA alternatives.
1 February 2014 *
**
The final deadline for the euro area
BIC no longer required for national euro payments
ISO 20022 XML to be used for file-based transactions to and from customers
1 February 2015 Migration deadline for Direct Debits in Latvia
1 February 2016 No BIC to be required for cross-border payments (euro-countries); niche
products migration complete
XML formats mandatory – conversion services must be held outside banking
systems.
31 October 2016 * The deadline for euro-denominated payments in non-euro area countries
BIC no longer required for cross-border euro payments
All national euro direct debit schemes migrated to SEPA Direct Debits
schemes
**The Commission has adopted a proposal to give an extra transition period of six months during which payments which differ from the SEPA format can still be
accepted so as to minimise any possible risk of disruption to payments for consumers and businesses. The proposal does not change the formal deadline for migration
of 1 February 2014.
1 February 2015
Migration deadline for
Direct Debits in Latvia
1 February 2016
No BIC to be required for cross-border payments
(euro-countries); niche products migration complete
XML formats mandatory – conversion services must
be held outside banking systems.
31 October 2016 *
The deadline for euro-denominated payments
in non-euro area countries
BIC no longer required for cross-border euro
payments
All national euro direct debit schemes
migrated to SEPA Direct Debits schemes
* As of these dates, existing national euro credit transfer and direct debit schemes will have to be phased out and replaced by SEPA alternatives.
2015 2016
1 February 2014 * **
The final deadline for the euro area
BIC no longer required for national euro
payments
ISO 20022 XML to be used for file-based
transactions to and from customers
12/15/2015
9 •
SEPA End Date Regulation plus six months!
• Reachability throughout for euro countries
• No longer possible to require an account to be located in a specific country
• Amendment to EU Reg. 924/2009 ~ Same price for € payments below and above €50k 31 March 2012
• Multilateral Interchange fees for cross-border direct debits not allowed 1 November 2012
• Request for derogation until 1 February 2016 of smaller credit and direct debit transactions in a member state, for use of IBAN in the domestic market, use of XML etc. 1 February 2013
• ISO 20022 XML to be used for file-based transactions to and from customers
• BIC no longer required for national euro payments
• Technical interoperability between Payment Service Providers ensured 1 February 2014
• Euro based countries: BIC no longer required for cross-border euro payments 1 February 2016
• Non-euro based countries: BIC no longer required for cross-border euro payments
• Reachability for even non-euro based countries 31 October 2016
• National Direct Debit Interchange Fees abolished 1 February 2017
Er her brugt farvekode
fra kritisk/ikke kritisk vha
forløb fra grøn over
orange til rød?
12/15/2015
10 •
Additional customer-to-customer (C2C)
information
Proposal: Additional C2C information available
outside of the SCT/SDD message into a separate
message
Additional customer-to-customer (C2C)
information
Proposal: Expand the current 140 characters up to
say 1000 characters. Put more emphasis on using
structured remittance information
Customer-to-Bank Implementation Guidelines
(C2B IGs) to become mandatory
Proposal: Make the current ‘recommended-only’
C2B IGs mandatory
Expected Possible Changes for the SCT Scheme
12/15/2015
11 •
Corporate Access
The first-class solution to upgrade
our customers’ payment processes
Per Nordkvist 09/12/2015
Agenda – Corporate Access
• Why introduce a new file-based payment service?
• What is the benefit for customers?
• How will it work?
• Things ERPs & customers need to be aware of
12/15/2015
13 •
• Why introduce a new file-based payment service?
• What is the benefit for customers?
• How will it work?
• Things ERPs & customers need to be aware of
Cash Management trends our driver for development
Treasury Centralisation
Increasing Globalisation
Payment Commoditisation
Fast-shifting Technology
SEPA Compliance
Streamlining SME biz
Financial Crime Business Intelligence
E-Commerce
12/15/2015
15 •
• Why introduce a new file-based payment service?
• What is the benefit for customers?
• How will it work?
• Things ERPs & customers need to be aware of
This is a standard
“Chapter Divider“ to
support the agenda
slide
Corporate Access
Make your payment
flow efficient
• One file for all payment types, regardless of
currency
• One user interface
• One common solution for SE, NO and DK *
• One support
• Compliant with regulatory legislations e.g. PSD
and SEPA Rule-book
• Enhanced security solution
• Integrated with your ERP-system
1
* = Finland & Baltic’s to be included in future releases
12/15/2015
17 •
• Why introduce a new file-based payment service?
• What is the benefit for customers?
• How will it work?
• Things ERPs & customers need to be aware of
This is a standard
“Chapter Divider“ to
support the agenda
slide
Corporate Access solution overview
Corporate Access
Corporate Access FileTransfer
Communication,
Archive
Corporate Access Payables
Warehouse,
Validation, Release
ERP / Accounts Payable Corporate Netbank
User interface
Files Payments
Payment Systems
Corporate Netbank
Administration
User Admin
A) + B) Monitor files
Monitor payments
Cancel & Confirm *
A) Automated sending
of payment files B) Manual File Transfer
A) & B) = Optional solution
how to transfer payment files * = Option “Correct” to be included in future releases
12/15/2015
19 •
• All payment types
• Domestic and International, supplier, salaries, pensions, taxes and
intercompany payments
• All currencies
• Supports all currencies and payments from currency accounts
• One format
• ISO20022 XML *
• pain.001.001.03
• pain.002.001.03
• camt.054.001.02D
• Communication methods
• H2H (AS2, FTP/VPN, SFTP)
• Corporate Netbank File Transfer
* = camt.055.001.01 (Cancellation) to be included in future releases
1
12/15/2015
20 •
Easy
• Known user interface, easy to use
• SEPA-compliant file format
• Accessible via Corporate Netbank
• Help texts in five languages
• View, confirm and cancel files
• View and cancel single payments
• Confirm alone or two together
• View file status
• File & payment history for 15 months
• Download of status file (pain.002.001.03)
to update your ERP-system
• Download of debit advice (camt.054.001.02)
to update your ERP-system
12/15/2015
21 •
• Efficient payment process
• Available 24/7
• Quick and secure processing of payments
• Secure equal information in own ledger/bank
• Continuously updated ledger
• Efficient feedback on status
• ”Immediate” return of status file
• Debit advice returned after settlement of payment
• Possible to do reconciliation on daily basis
Efficient
* = Other file-based services provided by Nordea, such as credit advices,
account statements, etc. will remain un-changed incl. current down-load options
12/15/2015
22 •
• Why introduce a new file-based payment service?
• What is the benefit for customers?
• How will it work?
• Things ERPs & customers need to be aware of
This is a standard
“Chapter Divider“ to
support the agenda
slide
• Corporate Access Payables
• ISO20022 XML format for Corporate Access
• Payment service and payment types
• Corporate Access File Transfer
• Secure Envelope creation for Sender & Signer Id’s
• Signature procedure to Sign enveloped files.
• File communication via H2H protocols (enabled via
Corporate Access File Transfer agreement)
• Certificate Management:
• Download/Store/Maintain.
• Authorisation of Signer Id in ERP system
• Authorisation for users to confirm payments in ERP
system
Requirements upon ERP systems
Note: Mandatory to provide
Note 1: Mandatory to provide when H2H protocols used.
Note 2: Optional to use (either envelope and/or Signature) when
Corporate Netbank File Transfer used. If not provided manual
confirmation mandatory.
12/15/2015
24 •
Nordea’s Corporate Access Payables XML MIGs
Nordea’s MIGs are constructed as recommended by local Nordic/Baltic Bankers Associations.
Note: Current “SEPA” MIG as used by “in-Euro”
countries do not cover domestic payment types within
the Nordic area, i.e. ERP’s & customer’s must adhere to
Nordea’s guidelines (MIG’s).
12/15/2015
25 •
Nordea provides a web-based Test Tool, which will
enable customers and ERP vendors to:
Validate Envelope structure and content
Check correct ISO20022 syntax
Validate general ISO/CGI business rules
Validate Nordea specific business rules
Receive immediate information about potential
errors *
XML Test Tool for Envelope and XML Message content
Corporate Access Payables:
Envelope, Sweden and Norway available.
Denmark expected launch by January 2016
* = Status reporting (pain.002.001.01) and Debit advice reporting
(camt.054.001.02) to be included in future releases.
12/15/2015
26 •
Note: Nordea’s new file-based payment services will for the future replace all
current file-based payment offerings (incl. formats)
Corporate Access
XML
XML
XML XML
XML
XML
XML
File based payments in EUR
only available in ISO20022 XML
after 31 October 2016
12/15/2015
27 •
Agenda – Migration Activities
• Who to migrate?
• Alternatives?
• Time schedule
• How to do it?
12/15/2015
30 •
• Who to Migrate
• Alternatives
• Time Schedule
• How to do it
This is a standard
“Chapter Divider“ to
support the agenda
slide
Who are affected and in scope for migration
• Customers sending file based Euro payments in local formats
• Migrate all customers sending file based Euro payments in local formats
end of October 2016
• Customer sending file based Euro payments in Edifact format
• Migrate all customers sending file based Euro payment in Edifact format
end of October 2016
12/15/2015
32 •
This is a standard
“Chapter Divider“ to
support the agenda
slide
• Who to Migrate
• Alternatives
• Time Schedule
• How to do it
Recommendation to be SEPA compliant
AS-IS
LOCAL FORMATS
Outgoing payments, file
based payments sent in local
format for DK, NO and SE
1. XML only (The recommended option)
Customer has chosen to send all (both non-EUR and EUR) payments in
XML
TO-BE: Options on how to be SEPA compliant
2. LOCAL FORMATS
Customer has chosen to send non-EUR payments with remaining local
formats. EUR payments will be entered manually via Nordea netbank.
(no EUR file based payments)
3. LOCAL FORMATS & XML
Customer has chosen to send non-EUR payments with remaining local
formats and EUR payments in XML
12/15/2015
34 •
Services to migrate in the Nordic countries
File based EUR payments
Corporate File payment (CFP)
Leverantörsbetalningar
Interpay
Telepay
EDIFACT
Unitel EDI (EDI/4 and EDIFACT)
Services to migrate from Service to migrate to
12/15/2015
35 •
This is a standard
“Chapter Divider“ to
support the agenda
slide
• Who to Migrate
• Alternatives
• Time Schedule
• How to do it
High level actions
2015/2016
Dec
General SEPA information to customer in Nordea channels
Webinar ERP vendors
Jan Feb March May April Oct
Migrate Edifact customers to XML
DK
Migrate information to customers
Migrate customers sending file based Euro payments in local formats
NO SWE
12/15/2015
37 •
This is a standard
“Chapter Divider“ to
support the agenda
slide
• Who to Migrate
• Alternatives
• Time Schedule
• How to do it
Mutually dependent
Nordea
Customers Vendors
Enable
compliant
payment
solution
Deliver
compliant
ERP
solution
Implement
compliant
ERP
solution
12/15/2015
39 •
Customers way to compliance
12/15/2015
40 •
Nordea
Customers Vendors
1. Receive general information about
SEPA regulation and Nordea
migration activities
2. Receive targeted information about
how to get on-boarded to Corporate
Access
3. Dialogue with vendors for getting
technically ready compliant
solution
4. Solution dialogue with Nordea and
collection of information for
agreement
5. On-boarding and welcome package
Vendors way to Nordea compliant solution
12/15/2015
41 •
Vendors
Nordea
Customers Vendors
1. Newsletters
2. Access to technical documentation
and test tool
3. Webinar
4. Technical webinar
5. Develop and test via test tool
6. Contact with Nordea vendor support
for test/validation of solution
7. Jointly establish a common
approach towards customers for
delivering the best adapted support.
8. Implement SEPA compliant
solutions with customers
Key factors to succes
12/15/2015
42 •
Nordea
Customers Vendors
1. Mutual commitment
2. Communication
3. Alignment of expectations
• Visit www.nordea.com/vendors to get all
relevant information about formats, connectivity
and security
• Plan when to start implementation of Corporate
Access in your corporate solutions
• Take advantage of the test tool for efficient
testing of formats etc.
• Contact [email protected] for support,
e.g. regarding:
• Documentation
• Testing tool
• Sharing information about
• your implementation plans and
• confirmation when it has been tested
and launched successfully
• As mentioned we will distribute:
• Presentations from today’s webinar
• Questions and answers
Summary – next steps
12/15/2015
44 •