Global Payments and Cash Management. SEPA Update. PREPARED FOR: Universwiftnet Milan. DATE: 27 May 2009

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1 Global Payments and Cash Management SEPA Update PREPARED FOR: Universwiftnet Milan DATE: 27 May 2009

2 Contents Opportunities For Italian MNCs HSBC s Proposition Coming Next. Section 1 Section 2 Section 3

3 Opportunities For Italian MNCs

4 Italian MNCs Shared Service Center for European Entities 46 legal entities in 10 countries Banking relationships with multiple banks in 16 countries 11 different accounting systems Three of those SAP 4.6/B Three of those SAP 4.6/C Usage of 20 different electronic banking packages Domestic: 10 different formats supported Cross border: 7 different formats used For 13 entities paper based delivery to the bank For 8 entities manual input in bank software Direct debits: 6 formats supported Electronic receipts: 5 different formats for 3 countries applied SEPA offers potential for extensive efficiency gains

5 SEPA Benefits for Italian MNC Local Entities as Internal Clients to Shared Service Centre Shared Service Centre acting as MNCs Interface to Banks MNCs Transaction Banks in Europe Bank A MNCs Shared Service Centre Bank B Bank C Using one format Sending one format Receiving one format

6 SEPA Summary Benefits Statement - Italian MNC Cost Element Change in Cost SEPA Benefit Maintenance Costs Simplified account structures. Reduced need for reconciliations Administrative Costs Simplified collections structures including SEPA Direct Debit Transaction Fees Euro payments fees as domestic Cross border fees eliminated. Funding Costs More efficient liquidity management. Optimised cash usage. Infrastructure Costs One-off - costs for ERP changes GRAND TOTAL Net costs expected to decrease.

7 HSBC s Proposition

8 HSBC s SCT Proposition At A Glance Channel Access Multi channel..hsbcnet, Connect, SWIFT, Elys PC, Multicash Multiple formats.screen input, XML ISO20022, EDifact Paymul, SAP idoc, MT103+ On-line reporting for rejects and credit advices Accounts Domiciled in Italy and 12 other SEPA countries Debit or credit to any major currency account Intelligent routing for outgoing payments * Plan B: Beneficiary Bank not SEPA adherent - defer to EBA STEP2 clearing Plan C: Default to local in-country clearing, where present * Note. Default schemes are not governed by EPC rulebook, and may include truncation of data

9 HSBC s SCT Proposition At A Glance Cut off times Payments received before CET sent same day Those received after CET sent next day Incoming credits posted to client account same day of receipt SCT Rulebook Changes Effective February 2009 Pricing Harmonised payment purpose codes Payments on behalf of concept (used by payments factories) Available on a standalone country basis or consistent with Pan-European Tariff for clients in multiple sites

10 HSBC Experience 15 Months On.. SCT Volumes modest. Gradually increasing. No significant Corporate take-up yet end-to-end STP still work in progress - connectivity still Central Bank reporting in some countries organisational impact must not be underestimated BIC and IBAN difficult to collate No significant Public Sector take-up yet product support political support operational change

11 Coming next

12 New Products In The Next Two Years... SEPA End Date EC consultation Summer 2009 SDD reachability effective November 2009 Soft launch Commercialisation from mid 2010 HSBC is totally committed to SEPA

13 PSD - Compliance from November 2009 Specific information - maximum execution time, charges payable and interest and exchange rates (where applicable). No charges for this information. The full payment amount must be sent from the payer to the payee. Credits available no later than the end of the next business day after receipt. Cash available no later than the next business day after receipt of funds. Credit value date no later than the same business day of receipt. Debit value date no earlier than transaction debit date. Unauthorised transactions immediate refund up to 13 months after the debit date.

14 Your HSBC Transaction Banking Team Tony Richter Head of Business Development Global Transaction Banking London Tel: +44 (0)

15 UNIVERSWIFTNET 2009 Milano 27 Maggio Sponsor HSBC NOVITA SEPA /PSD PER L ITALIA Gianfranco Tabasso Vice Presidente AITI CEO FMS Group

16 Scadenze. 2/6 End Date ( solo strumeno SEPA ) La CE dice che la decisione verrà presa Giugno 2009 per SCT Dicembre 2009 per SDD PSD ( dal 1 Novembre 2009 ) Si applica anche agli strumeno non SEPA per tux i paesi e divise EU UK e Bulgaria hanno già pubblicato la legge nazionale di recepimento L a Svezia ha comunicato che non sarà pronta per quella data Gli altri paesi per ora tacciono Per gli strumeno SEPA, alcuni paesi hanno annunciato dei ritardi.ad es. Francia 2010 per SDD, Spagna 2011 per SCT e 2014 per SDD In Italia Il CUSP e l ABI, in separata sede, hanno presentato i loro commeno alla bozza di decreto preparato dal MEF Il dra` del decreto dovrebbe essere pronto. La banche non hanno ancora comunicato quali cambiameno ci saranno dal 1 Novembre per RiBa, Rid, Mav e bonifici (esecuzione in giornata e impossibilità valuta retroaxva)

17 SEPA per le aziende Italiane 3/6 SCT e SDD In Italia.. Payment InitaOon Interfaccia standard CBI Interfaccia SWIFT ISO 20022, SWIFT MT, CBI Bank ReporOng E/C CBI SEPA compliant SWIFT MT 940 SEPA compliant

18 Che succede il 1 Novembre 2009? SDD La maggior parte delle banche non saranno pronte ad offrire SDD come banca del creditore e del debitore Germania, Francia, Spagna Italia? (all ulomo incontro in ABI alcune banche hanno dego che saranno pronte) 4/6 Le banche e i service providers che sono prono lanceranno dei pilot con alcune impresa In questa situazione non si prevede una grande richiesta di SDD da parte del mercato

19 Commissioni Bancarie 5/6 Le banche non hanno comunicato le loro polioche di prezzo per i prodox SEPA Si presume che, all inizio, le condizioni siamo le stesse degli analoghi prodox non SEPA Per lo SDD cross border, la vera novità SEPA, la EC ha deciso una MIF che,per default, è di 8,8 euro cents La MIF ( su SDD domesoci e cross border ) sarà in vigore per tre anni poi si vedrà

20 6/6 Che succederà al RID e alla RIBA? AITI sta lavorando con l ABI e le banche su un AOS per lo SDD che riproduce le funzionalità del RID / AEA (all inizio, per l allineamento dei mandao CMF, poi anche per la raccolta DMF) Non sarà comunque disponibile a breve AspeXamo che l ABI lanci il tavolo tecnico per un AOS che salvi le funzionalità della RIBA nella SEPA ( uolizzando lo SDD )

21 CONFRONTO SISTEMI DI PAGAMENTO EUROPEI 2007

22 ITALIA : SISTEMA DEI PAGAMENTI 2008

23 ITALIA : SISTEMA DEI PAGAMENTI

24 ITALIA : SISTEMA DEI PAGAMENTI 2008 Var.

25

26 UniverswiftNet S PA: Where are we today? Author : Bert Vanbrabant Version : Version date 1 : March 23th, 2009 Atos, Atos and fish symbol, Atos Origin and fish symbol, Atos Consulting, and the fish symbol itself are registered trademarks of Atos Origin SA Atos Origin. Private for the client. This report or any part of it, may not be copied, circulated, quoted without prior written approval from Atos Origin or the client. 26

27 Agenda S PA: The ambition An overview of 9 out of 31 European countries Trends in the payments industry 27

28 S PA: The ambition Simplicity One unique standard Common payment execution processes Transparent charges Transparent payment execution dates End to end payment execution Added value Reduction of banking accounts & bank relations Better liquidity management Centralisation of payment execution Centralisation of treasury management Cost reduction Straight through processing Software and services January 28 th, 2008: SEPA Credit transfer go live banks 31 countries 28

29 S PA overview Spain France Germany Italy UK Belgium, Luxemburg, Netherlands, Switserland BIC/IBAN conversion SEPA payment initiation SEPA account statement Banking Channels Interbank Clearing & Settlement Intensive Intensive Intensive Done Intensive Easy to intensive Assistance offered by banks Cuaderno 34 DTA Re. website CBI BACS Local standards ISO Cuaderno 43 CFONB120 See website CBI BACS Local Standards ISO Bank specific EBICS EBICS Bank specific Bank specific Bank specific, ISABEL, Equens, SWIFT Iberpay CORE SEPA Clearer SIA-SSB & CBPI BACS Several EBA - STEP2 29

30 Trends in the S PA zone Corporates: increased use of payment factory and cash management tools internal banking solutions operational tracking & reconciiiation tools Clearing & settlement systems: introducing offerings to corporates on Direct access Back office services Banks: introducing services to corporates focusing more and more on the entire supply chain SEPA services Industry facilitators: offering Standards Secure messaging Global reach Sofware & Service providers: offering Software as a Service (SaaS) with built-in global reach 30

31 «Everybody enters everyone s value chain» Your choices Your benefits for today and tomorrow are there for the picking 31

32 ISO Standards Universwiftnet, Milano Carlo Palmers, Corporate Market Solution Manager, SWIFT 27 May 2009

33 ISO 20022: convergence the recipe through interoperability Syntax neutral business modelling methodology Syntax specific design rules Industry led development/registration process Financial repository on Reverse engineering approach to ease coexistence UniverSWIFTNet Milano 33

34 Payment initiation Account reporting Customer-to-Bank Interbank Bank-to-Customer I N I T I A T I O N Customer Credit Transfer Initiation Customer Direct Debit Initiation C L E A R I N G & S E T T L E M E N T Payment Status Report A C C O U N T R E P O R T I N G A C C O U N T R E P O R T I N G B2C Account Report B2C Account Report B2C Account Statement B2C Account Statement B2C DebitCreditNotification B2C DebitCreditNotification UniverSWIFTNet Milano

35 Payment Initiations Account reporting Customer-to-Bank Interbank Bank-to-Customer I N I T I A T I O N O F C R E D I T A N D D E B I T T R A N S F E R S C L E A R I N G & S E T T L E M E N T A C C O U N T R E P O R T I N G A C C O U N T R E P O R T I N G UniverSWIFTNet Milano ISO recommended mandatory for SEPA instructions

36 E2E transport of a core payments kernel Identification of ordering customer (and, if necessary, instructing party) Identification of beneficiary (and, if necessary, ultimate beneficiary) Information related to amounts (ordered amount, charge details, ) Remittance Information (references, structured and non-structured information) Dedicated references for all participants Mandatory support in SEPA instructions UniverSWIFTNet Milano

37 Payment Initiation Scenarios 1 2 Credit or Debit Initiation Credit or Debit Initiation Account owner Account Servicing Institution Account owner Forwarding Institution Credit or Debit Initiation 3b 3a Initiating Debtor Party Credit or Debit Initiation Account Servicing Institution Account Servicing Institution Ultimate Debtor Debtor UniverSWIFTNet Milano

38 Focus on XML and Corporate Benefits HSBC Delivery Country coverage : 23 countries currently implemented plus SEPA Readiness in key messages for payments low and high value, COS, reporting etc Experience with live customers in multiple countries: Asia, SEPA, Bermuda, Engagement in next steps and pilots On-going developments to add new messages such as Direct Debit Corporates benefits Facilitate straight through processing. Provides a consistent model based on agreed global standards that will enable the automation of business processes and information flows. Improves the payments process through improved monitoring and visibility from both an originator and beneficiary perspective. Improves cash management processing through improved visibility of cash. Reduces manual labour costs associated with the exception handling process. Reduce host to host implementation costs through the use of harmonised standard messaging. Provides the opportunity to leverage technology investments in ERP and TMS solutions.

39 ISO messages for reporting camt Bank-to-Customer Account Report Sent intraday, as per agreed timing with the bank Report, including pending entries Comparable with MT 942 camt Bank-to-Customer Statement Sent end-of-day/end-of-cycle Composed of balances and final entries Comparable with MT 940 camt Bank-to-Customer Debit/Credit Notification Sent ad hoc, as per agreed conditions with the bank Multiple message Comparable with MT 900/MT 910 UniverSWIFTNet Milano

40 Account Reporting Scenarios 1 2 Account Report Account Report Account owner Account Servicing Institution Account owner Forwarding Institution 3 Account Report Account Report Recipient Account Servicing Institution Account Servicing Institution Account Owner UniverSWIFTNet Milano

41 Main differences Account information Account report Statement Debit/Credit Notification Mandatory Mandatory Mandatory Balances Optional Mandatory " Exchange rate Optional Optional " Summary of transactions Optional Optional Optional Entries Optional Optional Optional Booked Pending Detailed information on transactions " " " " " " " " " UniverSWIFTNet Milano

42 Electronic Bank Account Management Today s issues and project objectives Today Tomorrow Paper Fax XML messages Supporting documents Slow Low integration Automated/STP Dematerialised Expensive Low satisfaction Standardised Faster/cheaper UniverSWIFTNet Milano

43 Electronic Bank Account Management Planning 2009 Jan Feb Mar Apr May Jun Jul Aug Sep Dec Pilot group Public availability Deliver draft xml Prepare for pilot Integration SWIFT solution Technical readiness Pilot Close pilot ISO Certification UniverSWIFTNet Milano

44 DistribuOon by SWIFT 5 VerificaOon of ceroficate validity to banks AcOvaOon/ RevocaOon/ Renewal DistribuOon to corporate by bank RegistraOon and usage* 4 RegistraOon and usage* with addioonal banks UniverSWIFTNet Milano * Over any channel

45 swift.com/corporates Are you a corporate seeking more visibility of cash, less cost to manage transactions and improved security and reliability? Are you a bank or partner looking for the latest information on SWIFT for corporates? 45

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