SEPA end-date & Corporate Access. Webinar 9 December 2015

Transcription

1 SEPA end-date & Corporate Access Webinar 9 December 2015

2 Welcome Vendor-bank cooperation is important to create great customer experiences Ensure win-win-win Nordea s proactive approach Seminars during 2014 Nordic newsletters Webinar today (and onwards) Websites updated with information and tools Webinar organizer: Mikael Kepp, Vendor relationship management 2

3 Agenda SEPA End-date what is the law and what are the practical implications Corporate Access Nordea s new payment and file transfer solution Migration activities moving customers to new SEPA compliant solutions Speaker: Carsten Thaarup Chief Expert - Infrastructure Speaker: Per Nordkvist Global Business Developer Speaker: Hans-Erik Forsgren Global Business Developer 3

4 Practicalities 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 Microphones are muted Slides will also be circulated afterwards 4

5 SEPA End-Date Regulation Main impact of the EU Regulation Carsten Thaarup, Cash Management 9 December 2015

6 Agenda SEPA End-date Background for the SEPA End-date Essential dates and impact SEPA Credit Transfer changes expected in the future 6

7 Background for the SEPA End-date Essential dates and impact SEPA Credit Transfer changes expected in the future

8 Background for SEPA End-date Regulation 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 8

9 Migrating to the Single Euro Payments Area Key dates February 2014 * ** The final deadline for the euro area BIC no longer required for national euro payments ISO 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 * As of these dates, existing national euro credit transfer and direct debit schemes will have to be phased out and replaced by SEPA alternatives. **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

10 SEPA End Date Regulation plus six months! 31 March 2012 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 1 November 2012 Multilateral Interchange fees for cross-border direct debits not allowed 1 February 2013 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 2014 ISO 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 2016 Euro based countries: BIC no longer required for cross-border euro payments 31 October 2016 Non-euro based countries: BIC no longer required for cross-border euro payments Reachability for even non-euro based countries 1 February 2017 National Direct Debit Interchange Fees abolished 10

11 Expected Possible Changes for the SCT Scheme 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 11

12 Corporate Access The first-class solution to upgrade our customers payment processes Per Nordkvist 09/12/2015

13 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 13

14 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

15 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 15

16 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

17 Corporate Access 1 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 * = Finland & Baltic s to be included in future releases 17

18 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

19 Corporate Access solution overview Corporate Access A) Automated sending of payment files ERP / Accounts Payable B) Manual File Transfer Corporate Netbank User interface Corporate Access FileTransfer Files Payments Communication, Archive Corporate Access Payables Warehouse, Validation, Release A) + B) Monitor files Corporate Netbank Administration User Admin Monitor payments Cancel & Confirm * Payment Systems A) & B) = Optional solution how to transfer payment files * = Option Correct to be included in future releases 19

20 1 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 pain camt d Communication methods H2H (AS2, FTP/VPN, SFTP) Corporate Netbank File Transfer * = camt (Cancellation) to be included in future releases 20

21 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 ) to update your ERP-system Download of debit advice (camt ) to update your ERP-system 21

22 Efficient 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 * = Other file-based services provided by Nordea, such as credit advices, account statements, etc. will remain un-changed incl. current down-load options 22

23 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

24 Requirements upon ERP systems Corporate Access Payables Note: Mandatory to provide 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 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. 24

25 Nordea s Corporate Access Payables XML MIGs 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). Nordea s MIGs are constructed as recommended by local Nordic/Baltic Bankers Associations. 25

26 XML Test Tool for Envelope and XML Message content 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 * Corporate Access Payables: Envelope, Sweden and Norway available. Denmark expected launch by January 2016 * = Status reporting (pain ) and Debit advice reporting (camt ) to be included in future releases. 26

27 Corporate Access Note: Nordea s new file-based payment services will for the future replace all current file-based payment offerings (incl. formats) XML XML XML File based payments in EUR only available in ISO20022 XML after 31 October 2016 XML XML XML XML 27

28 Thank you Per Nordkvist

29 Migration Activities Hans-Erik Forsgren

30 Agenda Migration Activities Who to migrate? Alternatives? Time schedule How to do it? 30

31 Who to Migrate Alternatives Time Schedule How to do it

32 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

33 Who to Migrate Alternatives Time Schedule How to do it

34 Recommendation to be SEPA compliant AS-IS TO-BE: Options on how to be SEPA compliant 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 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 34

35 Services to migrate in the Nordic countries File based EUR payments Services to migrate from Service to migrate to Corporate File payment (CFP) Leverantörsbetalningar Interpay Telepay EDIFACT Unitel EDI (EDI/4 and EDIFACT) 35

36 Who to Migrate Alternatives Time Schedule How to do it

37 High level actions Dec 2015/2016 Jan Feb March April May Oct General SEPA information to customer in Nordea channels Webinar ERP vendors Migrate information to customers Migrate Edifact customers to XML Migrate customers sending file based Euro payments in local formats SWE NO DK 37

38 Who to Migrate Alternatives Time Schedule How to do it

39 Mutually dependent Nordea Enable compliant payment solution Customers Implement compliant ERP solution Deliver compliant ERP solution Vendors 39

40 Customers way to compliance Nordea Customers 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 Vendors 5. On-boarding and welcome package 40

41 Vendors way to Nordea compliant solution Nordea Customers 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 Vendors 41

42 Key factors to succes Nordea 1. Mutual commitment 2. Communication 3. Alignment of expectations Customers Vendors 42

43 Thank you Hans-Erik Forsgren

44 Summary next steps Visit 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 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 44

45 Thank you Carsten Thaarup Per Nordkvist Hans-Erik Forsgren Mikael Kepp