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Poland Community Briefing2nd of December 2014, Warsaw
DP 183: SWIFT2020: Strategic direction
Discussion Paper – DP 183
Confidentiality: Level 2 – Distribution to national member groups allowed
December 2014
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
Board_Dec2014_NMG_Briefing_Material_V3 3
DP 183
SWIFT business model
Disruptive forces…
cyber threat
regulation andmarket change
technology revolution
geopolitical challenges
changing customer behaviour
new competition
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?”
Board_Dec2014_NMG_Briefing_Material_V3 6
DP 183
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
Board_Dec2014_NMG_Briefing_Material_V3 7
DP 183
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
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
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
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
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
Supporting ISO 20022
Patrik NeutjensISO20022 Programme Director
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
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
Thank you