SWIFT for Corporates SPIN Barbara Sacchi. 15 th June 2009

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1 SWIFT for Corporates SPIN 2009 Barbara Sacchi 15 th June 2009

2 Business needs Cash visibility has become critical Where is my cash? Can I move my cash? Can I reach all my banks? MT 940 MT 101 Multi-bank gateway 2

3 Internal control Harmonising procedures Multiples connections Single, standardised connection Corporate Corporate Accounts payable Accounts receivable Treasury Other host to host X e-banking Y VAN Leased line Internet Accounts payable Accounts receivable Treasury Other Standardised gateway e-banking Z Internet Single bank communication protocol Single bank communication channel Single set of operational procedures 3

4 Standards and SWIFTNet messaging Typical application Treasury and Risk Management Cash Management Exceptions and Investigations Standards and formats SWIFT MTs ISO Domestic formats ISO SWIFTNet messaging FIN FileAct InterAct Example MT 101 for high value treasury payment MT 940 with end-of-day account statement MT 300 FX confirmation ACH files Supplier payments Direct debits Salary payments Exceptions & investigations 6

5 Banking services Cash Management Low value/non urgent payments and reporting Low value payments are typically bulked and are carried in files using FileAct. Reporting on such payments can also be done over FileAct as well as disbursement files, check files High value/urgent payments and reporting High value payments are carried over FIN, using MT101 (Request for Transfer) and reporting on transactions or on cash positions can be done using MT492 (Interim Transaction Report) or the end of day MT940 (Customer Statement) Payments files (e.g. ISO 20022, CBI) Reporting files (e.g. ISO 20022, CBI) 7

6 Banking services Treasury Management Liquidity Management Liquidity Management (e.g. pooling of account) involves payments which are urgent and of high value. Such payments are carried over FIN using the MT101 (Request for Transfer) Financial Risk Management Foreign exchange deals (e.g. spots, forwards) are confirmed with MT300 (FX confirmation), for money market deals, use the MT 320 (Fixed Load/Deposit Confirmation) + Accord matching services 8

7 Banking services Trade Finance Import Letter of Credit Applicant can use the MT 798 (Trade Envelope) over FIN to apply for a L/C, Guarantees and Standby Letters or amend information. Bank can advise applicant about the issuance or amendment of a L/C Export Letter of Credit For export L/C, as the advising bank to the beneficiary you can offer FIN to exchange trade data using the MT 798 (Trade Envelope) FileAct to exchange files with the trade data (e.g. invoice financing, electronic billing, etc Using EDIFACT, ANSI od domestic formats) 9

8 SWIFT as building block for SEPA SEPA accelerates treasury centralisation Simplification of payment instruments Better liquidity management Optimisation of processes SWIFT can provide key building blocks Single channel to all banks BICPlusIBAN directory as reference data ISO standards and rulebook SWIFTReady applications 10

9 SWIFT s plans More standardisation Easy SWIFT New services ISO Removal of MT 103 from SCORE (Nov 2009) New corporate-to-bank contract template (Q4 2008) Opening SCORE to more corporates Simpler on-boarding Go Live Help Desk Electronic bank account management (Q1 2009) ISO account reporting (Q2 2009) Working group to look at personal digital identity 13

10 Typical bank readiness path Ready to supply Ready to sell 1 Explore opportunity to offer services to corporates via SWIFT 2 Define product proposition and obtain approval 3 Enable connectivity, applications, on-boarding, legal contracts 4 Prepare Marketing, Sales and Support 5 Actively promote in partnership with SWIFT Time 14

11 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 looking for the latest information on SWIFT for corporates? 15

12 Thank you Barbara Sacchi Senior Account Director South Europe, Middle East & Africa SWIFT Corso G.Matteotti, Milano Italy T D F M E W swift.com

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