Global Vendor Webinar - Transaction Management Presentation will begin at 12:00GMT - SWIFT
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Global Vendor Webinar
Transaction Management
Partner Programme / Vendor Readiness
September 2021
Admin notices
This presentation is being recorded
The slides and recording will be published in the document centre on SWIFT.com
(https://www.swift.com/standards/iso-20022/iso-20022-programme/iso-20022-programme-
document-centre)
Please use the comments box for questions or email
ISO20022programme.vendor.support@swift.com
To ensure you receive communications from us while we remain GDPR compliant please update
your preferences here (you will need to login to / create your free SWIFT account) to include the
interests ‘Payments’ and/or ‘Standards’ and we will ensure we keep you informed about:
Global Vendor Webinar Invitations
Relevant developments on ISO 20022 and Transaction Management
Updates from SWIFT’s Market Practice team
The latest info on adoption enabling tools and support
Transaction Management - Global Vendor Webinar 2
Agenda 1. Vendor readiness roadmap & timeline for in-flow translation 2. SWIFT Platform & customer readiness 3. Vendor Readiness Programme 4. SWIFTGo 5. Close Transaction Management - Global Vendor Webinar 3
Recap: Connectivity Guidance Important document and easy-to-read guide on why and how SWIFT are building Transaction Management and in-flow capabilities on the SWIFT Platform. Link to Connectivity Guidance paper: https://www2.swift.com/myprofile/res/documents/platform/swift-infopaper-platform-connectivity- guidance.pdf The next iteration will be published after SIBOS. Transaction Management - Global Vendor Webinar 4
Transaction Management Vendor Readiness Roadmap
2021 2022
Pre- Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jun CBPR+ in-flow translation
available for Live
Transaction Management
Key initiative milestones Community in-flow Connectivity (bilateral agreements) Transaction
testing available
See notes 1 testing begins providers ready management go-live
CBPR+ release
Comms Global vendor
webinar
Newsletter
Connectivity Interface Tech & Messaging interface Messaging interface
Interfaces ready
readiness test specs 2 in-flow testing begins compliance assurance
SBs on vendor interface ready
Test instructions
T&Cs effective3 All service bureaux ready
Service Plan approved SBs on SWIFT interface ready Escalation
bureaux Readiness assurance
(if needed)
T&Cs published SB webinar
Business API enabled See
application apps Notes 4 Adopt and support APIs as per roadmap
readiness
Non-API
Work w ith your connectivity solution to check it supports multi-format message handling and your application(s) can receive and process the output
enabled apps
1Deliverable 2Specs only available to 3Further details can 4Tools for API
Enabled Apps
notes providers who be found on the
Transaction Management have bought a SNL Developer license Shared Infrastructure Programme page Developer portal
Connectivity Guide or a SAG Developer license Software Development Kit
SWIFT Platform Page Microgateway
Further details can be found on the API catalogue
CBPR+ Compatible Interface Programme page Playground & sandbox
v2 usage guidelines and user handbook
Global Vendor Webinar recordings
Transaction Management - Global Vendor Webinar
Adoption guide 5
Adoption briefings
TrainingTimeline for in-flow translation
Nov 2021 TBC in 2022 Aug 2022 Nov 2022
Available Automatic Available Generally available
for testing enrollment for Live for Live
(bilateral agreements) (start of coexistence)
• As from November 2021, participants will be enabled for in-flow translation when ordering their FINplus Pilot
subscription. Participants who have already subscribed to FINplus Pilot in the past will automatically be enabled.
• SWIFT plans to automatically enroll all eligible FIN users that are not yet subscribed to FINplus Pilot in 2022.
• As from August 2022, participants can start exchanging CBPR+ messages and relying on in-flow translation
over the FINplus Live service, based on bilateral agreements with counterparts of their choice.
• In November 2022, CBPR+ messages and in-flow translations become generally available on the FINplus Live
service. This marks the start of the coexistence period for cross-border payments and cash reporting messages.
Transaction Management - Global Vendor Webinar 6SWIFT Platform updates Transaction Management - Global Vendor Webinar 7
September board update - Better data: ISO 20022 adoption [IR 864]
In-flow Translation
Multi-format MX
includes MT format
In-Flow Translation Highlights Next Steps: community readiness for ISO 20022
• Built in to FINplus messaging service and switched on by default • Prepare to adopt: upgrade your SWIFT Interface +
• All users will be provisioned in FINplus automatically by • Compatible SWIFT interface software available now on
November 2022 download centre
• Provides the key interoperability capability for ISO 20022 • In-flow Translation community testing starts November
adoption: • Many ISO 20022 testing resources already available from
• Senders can send ISO 20022 to any bank; receivers can ISO 20022 knowledge centre
process as MT if not ready for ISO 20022
• Available live in production August 2022:
• Multi-format MX handled transparently in SWIFT interface • Opt-in, bilaterally agreed basis for ‘penny testing’,
familiarization, early adopters
• End-to-end pilot completed with 7 banks in June 2021*
• General go-live November 2022
*Full report available on MyStandards CBPR+ homepage + SWIFT’s cloud-based interfaces, Alliance Lite2 and Alliance
Transaction Management - Global Vendor Webinar Cloud, w ill support the ISO 20022 adoption timeline
8September board update - State-of-the-Art Platform: Transaction Manager Activation [IR 864]
Refined activation plan
Transaction Manager Refined activation plan
TM brings additional functionality on top of • Latest surveys indicate over 50% of cross-border payments will switch to ISO
FINplus messaging and In-flow Translation: 20022 in November 2022 (much more than originally anticipated), leading to
• API access deployment risk for TM
Activate TM at original date and progressively move ISO 20022 payments
• Transaction data integrity (transaction copy)
over 6 months, prioritizing transactions with rich data
• Integration with value-added services
• Debate in the community around migrating FIN/MT-originated transactions to TM
Minimum readiness criteria the same as for (which was not part of the defined TM scope), with a broad range of views on the
In-flow Translation topic
Keep MT on FIN and re-evaluate mid-2023
Transaction Management - Global Vendor Webinar 9Customer readiness programme – Phase 2 Transaction Management - Global Vendor Webinar 10
All financial institutions processing cross-border payments are in scope, and our customer
engagement approach will vary per segments
Messaging Interface / Connectivity
Approach :
Primarily via bilateral profile customer focus
694 BICs Global engagements
Customers
Relevant technical content delivered according to
the customer connectivity profile :
• On premises
1115 BICs Medium • Cloud
• Service Bureau
Approach:
Focused targeted Service Bureau are a key stakeholder group and the
campaign approach with largest players are being approached via bilateral
webinars or group (virtual) engagements.
6379 BICs
meetings
Smaller Registered interfaces providers and business
applications, as well as other non-registered key
vendors are engaged through a dedicated program
to drive ISO 20022 and ensure transaction manager
release 1 readiness.
Transaction Management - Global Vendor Webinar
11Webinar engagement
Phase 1 Phase 2 Phase 3
Awareness Implementation Testing – Go Live
March 2021 - October 2021 October 2021 - December 2021 As of January 2022
Aim Create awareness Understand business flow impact Understand testing scenarios
Understand value proposition Understand operational impact Support testing
Prepare implementation Support implementation
Webinar Value proposition Messaging flows Testing
Content focus
Connectivity Guidance Interfaces Impact
Bilateral and • 260+ Bilateral meetings held YTD
webinar • 4497 Unique BICs (~ 8800 contacts) have attended a webinar globally
engagement • 91 Webinars held YTD - 70 + scheduled from Sept until the end of the year
Key documentation Representatives from 4100+ BICs have downloaded one or more relevant documents on swift.com (Connectivity Guidance,
and training FIN+ Serv.Desc., CBPR+ Adoption Guide SWIFT Platform doc.) and/or attended a Smart module training on ISO Adoption
Transaction Management - Global Vendor Webinar 12How to get started : SWIFT Platform page on the Knowledge Centre
One stop shop for all
technical specifications
• The Connectivity Guidance is the must-read
document detailing options to connect to SWIFT’s
enhanced platform
• The FAQ provides answers on many topics, from
business understanding to technical clarification .
• The Getting Started Guide focuses on readiness
topics customers have to take into account to
assess the impact on their operations.
• Links to Interfaces pages, CBPR+ guidelines, KB
tips,…
• More to come in the coming months :
SWIFTSmart modules, messaging flows detailed
views, testing guide,transaction manager service
description and operations guide…
Transaction Management - Global Vendor Webinar 13Community call to action
2 3Phase 3
What do I need to be ready for November 2022?
Amplify the key
Amplify the key messages towards Testing – Go Live
1. Ensure my Interface is ready
1 messages
your community 2. Ensure I am able
As of to receive
January 2022 ISO 20022 format with
embedded MT over FINPlus
3. Ensure I understand the impact on my operations
and compliance
To support customers, all information related to
2 Point towards knowledge centre page SWIFT Platform is centralised in a single
Knowledge Centre page.
Bilateral engagement, joint meetings, internal
awareness,….
3 Jointly engage with your correspondents if you are interested to have support to jointly
engage with your correspondents, contact your SWIFT
Account Manager
Transaction Management - Global Vendor Webinar 14Vendor readiness Transaction Management - Global Vendor Webinar 15
Types of in-scope products (non-exhaustive) Transaction Management - Global Vendor Webinar 16
Messaging Operations Guide
You will need to login to The Knowledge Centre before using the link
All must ensure adherence to the rules for fields and content for
InterAct header requests (full details to be found in the SWIFTNet
messaging operations guide)
We are working on a FIN to FINPlus guide but for the time being
please become familiar with the SWIFTNet messaging operations
guide
Transaction Management - Global Vendor Webinar 17Interface providers
What do you need to do to be ready for go-live in November 2022?
Perform the necessary development and testing to comply with the SWIFT compatible messaging interface specifications
SWIFT compatible interfaces have received the specifications* and instructions on how to perform the required assurance testing
Work with your customers / end users to ensure their application(s) can receive and process the output from the interface
Further details can be found on the Compatible Interface Programme page
Transaction Management - Global Vendor Webinar *Specifications are only available to providers who have bought a SNL Developer license or a SAG Developer 18
license to develop a messaging interfaceAPI enabled business applications
What do you need to do to be ready for go-live in November 2022?
Get Accredited: Complete the API Compatible Provider accreditation process.
(Under definition. Estimated publishing time: Q4 2021 on New Platform Partner’s Portal)
Service Accreditation: SDK and/or Microgateway Functional Accreditation: Specific API Services (gpi, TMP, etc) +
Security and Operational
Initial steps: Initial Steps:
Register on SWIFT Developer Portal (https://developer.swift.com) Get familiar with SWIFT APIs by visiting SWIFT Developer Portal and
Your account must be approved (subject to screening undertaken by SWIFT) navigating the API Catalogue; there are a number of API use cases in the
Access SDK and Microgateway info API Playground to help you find the APIs that best suit your needs
Visit new Platform Partner’s Portal (Q4 2021) and follow steps for ‘Enable- Visit new Platform Partner’s Portal (Q4 2021) and follow the steps for
Platform Partner Accreditation Process’ ‘Enable-Platform Partner Accreditation Process’
Transaction Management - Global Vendor Webinar 19Service bureau readiness
Updated terms & conditions
(effective as of January 2022)
Planned webinar for service bureaux
Invites will be shared through the SIP newsletter, as usual
Changes to the T&Cs, and what they mean for service bureaux, will be a dedicated item on the agenda
Save the date: 12th October - option 1 at 10:00CET – option 2 at 15:30CET
Note re: SB bandwidth – refer to Connectivity Pack document, an update will be made in Q4 2021
Transaction Management - Global Vendor Webinar 20Useful links
Transaction management for vendors webpage live on SWIFT.com:
https://www.swift.com/transaction-management-vendors
Designed to provide a single source of all information and
specifications required for registered providers to adopt and support
transaction management capabilities.
You will need to login to The Knowledge Centre before using the links
Alliance Access
o Developer Guide gives an overview of the XML v2 message structure and usage used between application and Access.
o Configuration Guide gives more details on all XMLv2 fields and also on the integration with back-office (message partners)
SWIFTNet
o System messages explains the delivery notification messages (xsys.010, xsys.011, xsys.012). Note that these messages can be reconciled within
Access and provided to the application as a DeliveryNotification or DeliveryReport XML v2 message.
Alliance Messaging Hub
o AMP reference guide explains the AMH message structure and fields used between application and AMH.
Transaction Management - Global Vendor Webinar 21SWIFT Go New solution for simple, low-value cross-border SME / SMB and consumer payments SWIFT Go – Setting the standard for future cross border payments - SEP 2021 – Confidential, do not share without SWIFT prior consent 22
SWIFT Go is about making simple,
low-value cross-border payments for
SMEs and consumers as easy, predictable,
transparent and low cost as domestic payments
Predictable, upfront, end-to-end
– Amount, time, fees and FX (if applicable) known before payment is sent
– Status of the payment available to the end customer (through participant bank)
Easy SME
– SWIFT Go fees pre-agreed bilaterally between the relevant correspondent banks
(simple fee options) Consumer users
– Single format
– Rely on payment pre-validation capabilities and other strategic platform capabilities
This initiative includes
Faster a legal stream to ensure
– Improve current gpi service level on speed compliance with EU
– Instant where available competition laws
Competitive prices
– Competitive commercial conditions (fees, FX) vs other well-known platforms,
more attractive than traditional correspondent banking
SWIFT Go – Setting the standard for future cross border payments - SEP 2021 – Confidential, do not share without SWIFT prior consent 23Main Milestones so far and upcoming ...
September ‘20 October ‘20 February ‘21 May ‘21 July ‘21 September ‘21
• Early tests & Results • Kick off Engagement • Kick off first Early • Quality and • Controlled go live of • Controlled go live of
before SIBOS group Adopter group measurement criteria 7 pilot banks 3 additional pilot
• Adoption Strategy w ill be validated banks + General
validated
Availability
• Vision & Success
priorities identified
• Press Release before
SIBOS Participant Institutions (pilot groups and early adopters)
1. Abu Dhabi Islamic Bank 30. Credit Bank of Moscow 58. PagoFX (Santander Group)
2. Akbank 31. Credit Immobilier et Hotelier 59. PT Bank Cimb Niaga TBK
3. Alfa Bank 32. Daegu Bank 60. PT Bank Mandiri (Persero) Tbk
4. Asia Commercial Bank 33. DBS 61. PT Bank OCBC NISP TBK
5. BAC Banco San Jose 34. Deutsche Bank 62. PT Bank Rakyat Indonesia
6. Banco de Chile 35. DNB* 63. Qatar National Bank Egypt Application
7. Banco de Credito del Peru 36. Emirates NBD Bank 64. Saudi British Bank Vendors
8. Banco de la Provincia de Buenos Aires 37. First Abu Dhabi Bank 65. Sberbank*
9. Banco del Estado de Chile 38. Garanti Bankasi 66. Shanghai Pudong Development Bank
10. Bancolombia 39. HSBC 67. Shinhan Bank
• ACI
11. Banesco 40. Ho Chi Minh City Development Joint Stock Commercial 68. SMBC • Finastra
12. Bank of China Bank 69. Société Générale* • FIS
13. Bank of Dongguan 41. Industrial Bank of Korea 70. Standard Bank
14. Bank of Georgia 42. Intesa Sanpaolo 71. Standard Chartered
• Fiserv
15. Bank of Jiangsu 43. JP Morgan Chase 72. StoneX • Oracle
16. Bank of NY Mellon* 44. JSC Bank Alliance 73. The Mauritius Commercial Bank Limited • Pelican
17. Bank of Shanghai 45. JSC Kredobank 74. Tinkoff Bank • Volanté
18. Bank Negara Indonesia 46. JSC Oschadbank 75. Unicredit*
19. Banque Internatioanle a Luxembourg 47. Kasikornbank 76. Vietcombank • StoneX
20. Barclays 48. KB Kookmin Bank 77. Vietinbank • ECS Fin
21. BBVA* 49. Keb Hana Bank 78. Wells Fargo
22. BIDV 50. Kuw ait Finance House 79. Yapi Kredi
23. BNP Paribas 51. Lloyds 80. Zhejiang Chouzhou Commercial Bank
24. China Citic Bank 52. MB Bank 81. Zhejiang Rural Credit Cooperative Union
25. China Construction Bank 53. Mashreq Bank 82. Zhejiang Tailong Commercial Bank
26. China Minsheng Bank 54. Mybank*
27. Chong Hing Bank Limited 55. National Bank of Australia 24
28. Cimb Bank Berhad 56. National Bank of Kuw ait
29. Citibank 57. Natw est Group * Live since July 2021If you have any questions please contact your account manager
www.swift.com
or contact us at ISO20022programme.vendor.support@swift.comYou can also read
