On-site or as a service: E&I is easy to implement.
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On-site or as a service: E&I is easy to implement
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Transcript of On-site or as a service: E&I is easy to implement.
On-site or as a service: E&I is easy to implement
Payment enquiries challenges
Save costs
Comply with
regulation
Reduce risk
Improvecustomer service
Only 5% automated
Labour intensive
Growing volumesdue to FAFT SR7
Payments under investigation
Long turn-around time
No transparency on enquiry status
E&I is easy to implement
Manual message creationAlliance Messenger
Case management applicationEasy E&I from SWIFTChoice from SWIFTReady vendors
• Connected via service bureau• No own case management application• Low enquiry volumes=> Choice from service bureaux Service bureau
Case Managementapplication
Case Managementapplication
E&I as a service
On-site
An E&I solution for everyone
Exceptions and Investigations4
2010 planned :
E&I application providers E&I service bureaus
Take the opportunity to visit them at Sibos!
2011 planned :
Customer viewpoint
• BNY MellonMr. Jeremy Phelps, Lead Business Systems Analyst– Global Operations
• AbankaMr. Stefan Volk, Director Interbank Relations
• Sloval Guarantee and Development Bank represented by Digital SystemsMr. Peter Hasko, Chief Sales Officer
BNY MellonIn –house implementation of E&I
Mr. Jeremy Phelps
Agenda
I. Operational Statistics
II. Decision / Project Details
III. E&I Process
IV. Benefits / Lessons Learned
V. Future Initiatives
Operational Statistics
• Payments and inquiries processed in several locations globally
• Over 450 employees dedicated to funds transfer
• 165,000+ payments processed daily
• 4th largest FED/CHIPS participant by volume
• 3,000+ inquiries processed daily
• Automation of 10 – 20 % inquiry volume
• 6th largest shareholder on SWIFT
• Network of 2,000 correspondent banks in 100+ markets
Decision / Project Details
Built on existing CRM inquiry application
• Drivers– Cost– Time– Ease of use– Existing technology
Project timeline (1 year duration)
• 2 months to establish requirements
• 3 months to design
• 3 months to build
• 4 months to test and implement
E&I Process
Inbound E&I message
• Translates inbound XML into tag-based format
• System determines if message (or case) can be automated
– Converts outbound message if necessary
• Message is transformed into user-friendly attachment to case
Inbound non-E&I message
• System determines appropriate action and checks outbound party for E&I eligibility
– System uses information from inbound message to automate outbound E&I
SWIFT E&I Message
E&I Bank or Corporate
BNY Mellon
Middleware – XML Translator
XML Message
Translated Message
CRM Application
Outbound E&I Message
SWIFT FIN or Other
Outbound Message
Types
Benefits / Lessons Learned
• E&I will help increase the amount of qualifying STP cases
• STP messages are more concise(less ambiguity)
• Overall case processing time is reduced
• Reduced staff training time (E&I vs. FIN)
• Provides a facility to handle newly defined global compliance standards (FATF SRVII)
• Prepare a training program and material before implementation
• Utilize the expertise of business partners for “best practice”, testing, and implementation advice– E&I Task Force– www.swiftcommunity.net
E&I Future Initiatives
• Phase III Completion – Work to automate more difficult E&I workflows
• Continue to be active members of the E&I community and Task Force
• Work with both clients and partners to encourage industry uptake
• Share our experience with others
E&I implementation with Easy E&I
www.abanka.si
Mr. Stefan Volk
• 1991: Constitution of the Republic of Slovenia• 2004 : Member of EU• 2007 : Adoption of EUR currency
• 1955: Foundation of Abanka assubsidiary of Jugobanka
• 1989: Independent bank – Abanka
• 2008: Listed on Ljubljana Stock Exchange
• Universal Banking
• Network of 41 branches in Slovenia
• 3th largest bank in Slovenia with 8.9% market share
• Euromoney award 2010
• The Banker award 2009
About Abanka
Some figures• 250 payment enquiries per month
• Processing channels: structured and unstructured MTs (n95,n96,n92, n99), e-mails, fax
Challenges & wishes• Heavy manual processing
• No dedicated resources
• No existing investigations system
• Wish for short time-to-market
• Bank strategy to remain at forefront of technological modernisation and rationalisation
Easy E&I
Operational aspects of E&I project
“Extended” “Off the shelf”
SWIFT Alliance
Access/Entry
Case management application
Payments messages
Inquiry messages
(MT, MX)
Payment application
• All “off the shelf” features
• Retrieves underlying payment from payment application
• Multiple BICs and subsidiaries
• Integrates with Alliance Access / Entry
• Off-the-shelf case management functionalities and embedded intuitive workflows
• Handles MT and MX messages
• Powerful search engine
• Secure, role base access
• Multi-user
Abanka choose for Easy E&I Off-the-shelf
Easy E&I
Set up Pilot Project Group (PPG) within Abanka: 4 staff members headed Ms Natalija Šega, Head of Payments
2010
July 2009
Sign-up for Easy E&I (incl. Access to E&I and Expertus application
Decision to participate in Easy E&I pilot
Aug. 2009
Download of Easy E&I application
Sept. 2009 Oct. 2009
Integration with Alliance Access application
Start counterparty testing with BNY Mellon
Internal testing
Nov. 2009
End successful counterparty testing
Go live with E&I
Dec. 2009
Abanka became first Easy E&I adopter, in
May 2010!
E&I project experience & timeline
E&I benefits for Abanka
• Centralised evidence of investigations, providing a proper audit trail
• Increase in operational efficiency– Easy and direct access to full investigation case information instead of
time consuming paper document retrieval– Unified way of solving investigations across departments– Possibility of duplicate cases eliminated
• Enhanced customer service thanks to faster enquiries resolution
• Cost savings– Better use of time of highly qualified workers– Reduction of paper and other communication channels
• Environmental benefit– Paper reduction
Concluding remarks
• Through the pilot experience, Abanka was able to evaluate all parameters of Easy E&I offering – Economical aspect– Response time – User friendliness – Suitability within our business environment
• Abanka is an active supporter and promoter of Easy E&I– Presented in SWIFT user communities in Romania, Albania,
Macedonia and Bosnia Hercegovina
Contact Abanka to learn more about Easy E&I and our experience
Natalija Šega, team leadertel.: +386 1 47 18 314e-mail: [email protected]
Grega Zadnik, SWIFT managertel.: +386 1 47 18 557e-mail: [email protected]
Štefan Volk, Director of Interbank Relationstel.: +386 1 47 18 435e-mail: [email protected]
Nataša Klepec, E&I specialisttel.: +386 1 47 18 309e -mail: [email protected]
Sead Duračković, IT technical experttel.: +386 1 47 18 507e-mail: [email protected]
E&I pilot team
Žiga Žerjal, Relationship Managertel.: +386 1 47 18 433e-mail: [email protected]
Interbank Relations
Contact details
Slovak Guarantee and Development BankE&I implementation via a service bureau
Mr. Peter Hasko
About SZRB and Digital Systems
Digital Systems
• A SWIFT Service Bureau providing SWIFT connectivity and SWIFT products and services such as “Software as a Service” to banks and financial institutions
• Provides E&I solution for SZRB via its’ SWIFT Service Bureau
• Visit us at our stand A721 to get more information regarding E&I and other solutions running in our SWIFT Service Bureau
Slovak Guarantee andDevelopment Bank (SZRB)
• State-owned bank in Slovakia• Focused on development small and
medium sized businesses in Slovakia• Supports towns, municipalities,
corporates etc.
• A small bank with– ca. 200 payments per month– 2-5 investigations per month
• January 2010 started deposit products for their corporate clients expecting increase of investigations
• Small number of investigations
• Limited resources
• Expecting increase in investigations from corporates
• Looking to automate processes in a clear, transparent and cost-effective way
• Already connected to SWIFT network via Digital Systems service bureau, which offers E&I service
Obvious choice for SZRB to sign-up for the E&I service offered by their service bureau
Investigations profile of SZRB
Implementation set-up
E&I offering of Digital Systems includes access to• Case management system MSIT- EXIN• To the bank’s own payments archive• To e-mails, faxes, SAP, AML system• Any bank information system
BIS
SAP
Service Bureau
E&ICase Management
System
Messaging Interface
MX
MTMessaging
Payments
• Adopt E&I in very short timeframe – up to 4 weeks
• Minimal upfront investment
• No maintenance of an own investigation system
• Central investigations hub and integration with all the bank’s back-office systems allowing any investigator/ department to easily access all investigation cases and related information in one central point
• Very cost effective solution
Benefits of « E&I via Service Bureau » for SZRB
“Our major challenge was to centralise all our payments investigations with one central investigation hub.”
Jozef GalisDirector of the Accounting and Reporting Section at SZRB
Concluding remarks
By using E&I SZRB:
• Can rapidly respond to customer enquiries
• Obtained increased operational efficiency of its staff and procedures
• Added a competitive advantage to its offering for corporates
• Was able to centralise all investigations to provide a clear audit trail
Radoslav Hromy – Account Manager
Tel: +421 2 634 525 37
E-mail: [email protected]
Peter Paprskar – Director ofinformation systems
Tel: +421 2 572 92 178
E-mail: [email protected]
Peter Hasko – Head of Sales
Tel: +421 2 634 525 37
E-mail: [email protected]
SRZB
Digital Systems (Sibos A721)
Jozef Galis – Director of theaccounting and Reporting Section
Tel.: +421 2 572 92 644
E-mail: [email protected]
Contact details
Questions &Answers
