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Slide 1 How SWIFT can help you with SEPA? Vincent Questiaux SEPA Program Manager 3rd SEPA Conference, Warsaw October 2007.

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Presentation on theme: "Slide 1 How SWIFT can help you with SEPA? Vincent Questiaux SEPA Program Manager 3rd SEPA Conference, Warsaw October 2007."— Presentation transcript:

1 Slide 1 How SWIFT can help you with SEPA? Vincent Questiaux SEPA Program Manager 3rd SEPA Conference, Warsaw October 2007

2 Slide 2 Agenda SEPA Testing Programme SWIFTNet Bulk Payments Solution Be ready for SEPA – SWIFT Training Interoperability support

3 Slide 3 SAL I Bank internal CSM internal SAL II Bank-to-Bank SAL III Bank-to-CSM SAL IV Bank-to-CSM-to-Bank … EPC Testing phases SEPA Testing programmes for the EPC Testing phases Note: SAL stands for Self Assessment Level in the EPC SEPA Testing Framework … CSM specific business & operational testing programmes … Specific business & operational testing programmes bilaterally agreed … CSM specific business & operational testing programmes End-to-end operational testing programmes within and across CSM communities … CSM specific business & operational testing programmes Bank or CSM internal Application testing programmes

4 Slide 4 Seceti Dresdner Bank Deutsche Bank Fortis Hypo VereinsBank ING Bank JPMorgan Chase Natixis Nordea Intesa San Paolo SEB Société Générale UBS ABN Amro Bank of America Bank Austria Creditanstalt Banco Bilbao, Vizcaya Argentaria (BBVA) Banco Popular Español Banco Santander Central Hispano Caisse Nationale des Caisses dEpargne CitiGroup Commerzbank Credit Mutuel (CIC) Created at SIBOS 06, the STAG provide advice and guidance to develop the SEPA Testing Programme SEPA Testing programme is an initiative of the SEPA testing Advisory Group (STAG)

5 Slide 5 SAL I Bank internal CSM internal SAL II Bank-to-Bank SAL III Bank-to-CSM SAL IV Bank-to-CSM-to-Bank EPC Testing phases ISO Standard rules testing A common SEPA Testing Programme to support SEPA Standards Compliance testing Testing EPC rules for SEPA Testing CSM Market Practices File exchange headers Testing … CSM specific business & operational testing programmes … Specific business & operational testing programmes bilaterally agreed … CSM specific business & operational testing programmes End-to-end operational testing programmes within and across CSM communities

6 Slide 6 IberPay Dias SIBS Equens STET VocaLink EuroSIC Cooperation agreement between the CSMs and SWIFT Reduce testing programmes overlap and promote interoperability with their members Seceti

7 Slide 7 SAL I Bank internal CSM internal SAL II SAL III Bank/CSM Testing with the CSMs and with the SEPA Testing Programme File Exchange Headers Core SEPA Standard Non SEPA Service Messages EPC SEPA Scheme rulebooks and Implementation Guidelines V2.3 (TVS) Standards under discussion Iberpay specific STET specific …. Equens specific AOS Standard EPC SEPA Scheme rulebooks and Implementation Guidelines V2.3 (TVS) Business and Operational Testing CSM Market Practices Standards submitted to the EPC for endorsement

8 Slide 8 SWIFT SEPA Testing Programme value proposition Standards Proprietary messaging Proprietary protocol Value Bulking SEPA Messages EPC SEPA Additional Optional Services (AOS) Core SEPA Compliance Standardised CSM topologies SEPA AOS compliance Messaging Interoperability Additional Optional Services (AOS) (White Fields) Non SEPA Service reports CSM specific fields Value added services Standardised File exchange header Core EPC SEPA Schemes SEPA CSM market practice CSM market practices Core SEPA (Yellow Fields) Release 1.x Future

9 Slide 9 Pragmatic testing approach with proven testing methodology Testing strategy Testing strategy –Extensive coverage of EPC rules for SEPA –Testing the ability of the application to generate valid SEPA messages –Testing the robustness of the application to receive messages –Validation of more than one rule per test case, if possible –Specific CSM test cases roadmap Structured testing methodology Structured testing methodology –Identification of logical and physical Test Cases (Word/XML files) –Decision tables and equivalence patitioning techniques, with value boundaries analysis Optimised test cases to reduce the effort while offering the coverage required for the SEPA compliance certification

10 Slide 10 Internal Application Testing Standards Compliance Testing Operational Readiness Testing ACH ACH Bilateral Simulation Test and Qualification Service for SEPA (STaQS) SWIFTStandards Smart Test Messages A comprehensive and practical set of testing tools and services SEPA BICPlusIBAN & Routing directories

11 Slide 11 Positioning the testing tools of the SEPA Testing Programme Basic SEPA workflow (in & out) Free/scripted test cases Customisable test data Scheduling test execution Test results reporting Connectivity (SN FileAct) Hand-Holding Support +350 Test Cases EPC and CSM market practices EBA file headers support Mandatory set of test cases for SEPA compliance Inbound message test only Free self testing only Customisable test data Manual test execution Test validation document No connection needed Hand-holdimg support 300+ messages EPC Core Standard only No file headers support Useful test messages Useful test messages for SEPA testing Simulation Test & Qualification Smart Test Messages

12 Slide 12 SEPA Testing Programme benefits The industry reference for testing SEPA core standards Mitigate operational risk through extensive and optimised testing with high risk coverage level Ensure standard interoperability by testing strictly the SEPA core standard with SWIFT as a neutral 3 rd party, independent from any clearing channel. Reduce the testing costs by testing the SEPA Standards compliance once with a programme that does not overlap with the CSM tests Leverage existing investment with integrated testing tools that are easy to use Test at your own pace thanks to services available 24/7d that allow standalone testing

13 Slide 13 Release SCT CSM Market Practices EBA File Headers support = completed = to be completed Release 1.0/1.1 SCT bank-to-bank TVS and ISO Directories specifications Release EBA File Headers Enh. ITB for Partners Release for SDD SN FileAct 6.1 Corporate-to-bank AOS fields File Headers EPC rules SEPA Testing Programme Deliverables timeline July 07 Aug-Sep Future Oct early adopters registered (512 destinations) incl. 8 ACHs and 11 users start testing (Oct 07)

14 Slide 14 Agenda SEPA Testing Programme SWIFTNet Bulk Payments Solution Be ready for SEPA – SWIFT Training Interoperability support

15 Slide 15 The SWIFTNet Bulk Payments solution Promoting market best practices and increased harmonisation UNIFI ISO standards SWIFTNet FileAct SWIFTNet InterAct for single/urgent messages Standards 1 Messaging 2 Rulebook 3 SWIFTNet Bulk Payments is aiming at harmonising exchange of bulk payments, in order to decrease development costs and facilitate interoperability between payments systems Price per payment leg Pricing 4

16 Slide 16 The SWIFTNet Bulk Payments solution - pricing Price per payment instruction Between 0.02 and 0.07 eurocent per payment instruction transported, which means between 1,430 and 5,000 payments for 1 Euro Supporting different message formats without impact on prices Independent from compression level, payment length and file size (min 100 payments/file) Close to actual payment business model Determined by The annual volume of the community, closed user group of entities encompassing the same set of business rules and common standards to clear a single currency The annual volume of the institution within the closed user group Contributing to the calculation of the global tier of the financial institution

17 Slide 17 Agenda SEPA Testing Programme SWIFTNet Bulk Payments Solution Be ready for SEPA – SWIFT Training Interoperability support

18 Slide 18 Interoperability - components and issues Business rules Standards Infrastructure Transport mechanisms and protocols File header and structure Instrument def. Rulebook Chosen syntax and version Opt. Implementation Guidelines Competitive space = implementation considerations Cooperative space = business rules and standards ExchangePayloadHeader CSM Market Practices

19 Slide 19 STAG identified interoperability enabler Provides topology based expected layout of defined SEPA XML core messages Supplements the EPC Implementation Guidelines Endorsed by and published as an EPC document Slide 19 CSM Market Practices – status

20 Slide 20 Exchange Payload Header - Status Provides a generic solution and messaging layer- independent way of declaring the content of an exchange between parties and the structure of the exchange payload. Common Headers Requirements Common Logical Model Service Profiles Giovannini, SEPA, ETC… Specifications Service Profiles Published on for public consultation. Next version available soonwww.swift.com

21 Slide 21 published on for public consultationwww.swift.com deadline for comments set for 14th Sept little feedback to date except from STET and EBA Requests for further information received from inside SWIFT and some committed customers. Slide 21 Exchange payload headers – Status Next version will be issued based on the received feedback.

22 Slide 22 SWIFTNet FileAct – Header Info implementation To date, two profiles are defined… –Transaction count: allows automated pricing for Bulk Payments solution –Payment file summary: allows for confidentiality, authorisation, based on summary (risk management), audit trail, etc… … but the solution remains flexible: additional fields can be added (and usually taken from the logical Exchange payload header model).

23 Slide 23 Agenda SEPA Testing Programme SWIFTNet Bulk Payments Solution Be ready for SEPA – SWIFT Training Interoperability support

24 Slide 24 Be ready for SEPA – what you need to know How does SEPA impact your institution? What is this new ISO XML standard? How do I populate the SEPA XML credit transfer and direct debit messages? What are the EPC implementation guidelines and rules relating to these messages? How do these XML elements relate to the MT 103? ….

25 Slide 25 SWIFT Training offering Open classroom and customised, on-site courses Receive a good general understanding about SEPA and what it means for your financial institution Learn about SWIFT's several new offerings in the context of SEPA Understanding SEPA Available Using ISO standards for SEPA credit transfers Receive detailed information on the ISO messages, flows, rules and guidelines Learn how to correctly process the XML messages for SEPA credit transfers Using ISO standards for SEPA direct debits Receive detailed information on the ISO messages, flows, rules and guidelines Learn how to correctly process the XML messages for SEPA direct debits For information and registration: Available Jan 2008


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