Long time no blog! I want to get back into the blogging grove, and what better way to do so by sharing what i think will be pretty cool sessions at Sibos 2019. Since Sibos is in London this year, I’m hoping i can sneak in at some point. Let’s see..! Apparently this is going to be the biggest Sibos with over 10,000 attendees.

The Sibos themes is “Thriving in a Hyper-connected World“. Following are some of the sessions that caught my eye, and if you’re about i would say – don’t get caught up in trying to attend all the sessions, attend what you can and catch up on any sessions you miss using the Sibos YouTube channel.

Keep in mind the below sessions focus on Payments and topics relevant to Corporate customers. The Corporate forum kicks off on Wednesday for 2 days.

Sibos 2019 – Monday 24th September

0900 – 0945: Innotribe Opening
0930 – 1015: Cloud providers: Cybersecurity saviours or source of single point of failure?
1000 – 1045: SWIFT gpi – Your guide to the new era of global payments
1100 – 1200: Sibos Opening Plenary
1200 – 1245: McKinsey’s global payments outlook
1300 – 1345: What will the world look like when all payments are confirmed? Get ready for 2020
1400 – 1445: ISO 20022 migration: Everything you need to know
1515 – 1600: APIs: The connective tissue enabling platforms and creating thriving ecosystems
1600 – 1645: Ahead of the game – Outpacing the fraudsters

Sibos 2019 – Tuesday 25th September

0915 – 1045: SWIFT gpi – Revealing the roadmap
0945 – 1045: Humanist vs technologist
1000 – 1045: The Cloud debate: On-premise is dead – Long live on premise?
1215 – 1245: EastNets: What went wrong when your bank was hacked? EastNets investigations and conclusions on recent fraud cases
1215 – 1300: Lunch & Learn: Blockchain – A distraction on the road to digital transformation
1315 – 1345: SWIFT gpi pre-validation: Letting payments fly
1400 – 1445: The rise of banking platforms and the challenges faced by incumbents and new entrants

Sibos 2019 – Wednesday 26th September

0900 – 0930: Fast/Forward – Staying ahead of the curve in a disruptive world
0900 – 0930: Views from the top with Christian Sewing, CEO, Deutsche Bank
0930 – 1000: KYC: A common industry problem – One solution
0945 – 1030: The evolution of relationship management and the corporate to bank dynamic *
1000 – 1045: SWIFT gpi – Creating value for corporates *
1030 – 1100: Views from the top with Dame Stella Rimington, former Director General of MI5 and best-selling international author *
1045 – 1115: Ripple: The future of cross-border payments – Transforming remittances with digital assets
1100 – 1200: Have new business models created a perfect cybersecurity storm?
1200 – 1245: KYC utilities: What does success look like?
1215 – 1300: Ecosystems are blooming – What does it mean for payments?
1315 – 1345: SWIFT gpi Inbound tracking: Serving the supplier needs
1400 – 1445: SWIFT gpi – Looking to the future
1530 – 1615: Fintech: Poachers turned gamekeepers?
1630 – 1700: SWIFT gpi pay and trace: Multi-bank tracking embedded in corporate treasury dashboards
1630 – 1700: Bangladesh Bank, 3 years on – Are we any safer?

Sibos 2019 – Thursday 27th September

0845 – 0915: SWIFT gpi cross-border payments collection: A dream come true for every global corporate
0900 – 0945: ‘Slowbalisation’ and its impact on global corporates *
0900 – 0930: Views from the top with Col Dame Kelly Holmes, former Double British Olympic Champion and gold medallist
0915 – 1000: What’s left for the human after AI & Robotics?
0915 – 0945: Simplifying your SWIFT gpi onboarding journey
1000 – 1045: Delivering a customer-first payments experience *
1000 – 1045: The emergence of new trade finance ecosystems
1100 – 1200: Banking perspectives – Understanding the next generation of customers
1215 – 1300: Solving the corporate actions data challenge
1215 – 1245: Faster payments, AI, machine learning, big data – Are technology advances and payments evolution helping the attacker or the victim?
1445 – 1515: Serrala – stay relevant and shape the future
1415 – 1515: Splunk: How to rob a bank – Cybersecurity and the advanced analytics you need to save the day
1500 – 1545: Innotribe Closing *
1600 – 1700: Sibos Closing Plenary *

Have fun, don’t take it too serious – its just a Ride!

The post Sibos 2019 – A Day by Day Guide for Payment Geeks appeared first on SEPA for Corporates.

So, Sibos 2019 has come and gone. I will be sharing some of my Sibos 2019 notes over the coming days, but today wanted to alert folks that weren’t able to attend that you can watch many of the sessions on YouTube at Sibos TV. Also, check out The Best of Sibos 2019 London, and delve into some of the themes that catch your eye at Sibos TV. Below are some day by day highlights from across Sibos 2019, i would particularly recommend the “Views from the Top” sessions – very interesting!

Sibos 2019 – Day 1:

Sibos 2019 – Day 2:

Sibos 2019 – Day 3:

Sibos 2019 – Day 4:

The post Sibos 2019: The Best Video Highlights from Day 1-4 appeared first on SEPA for Corporates.

Yes guys, I am still around! My sincere apologies for the silence for the last year or so. I have been dealing with a couple of things, which i hope are now firmly in the rear view mirror. You may be wondering, why am i posting today? Well, this is a momentous moment (is that even a phrase?!?) for all SWIFT users – while the spotlight is on financial institutions, corporates need to know what is going on and prepare themselves for the SWIFT CBPR+ initiative. With that, lets dive straight into SWIFT CBPR+

1. What is SWIFT CBPR+ ?

• SWIFT CBPR+ is the SWIFT Cross Border Payments and Reporting initiative to go live, in the interbank space, with ISO 20022 (XML) standards 
• This migration to SWIFT CBPR+ is happening right now, this weekend (18-19th March, 2023), and is being activated across all financial institutions on the SWIFT network
• Messages in scope for this ‘first phase’ through to November 2025 are:
  • MT1 series
  • MT2 series
  •  MT9 series
• From tomorrow we will enter what is being referred to as a ‘co-existence period’ where both MT and MX messages can be exchanged, after November 2025 the MT messages for the above series will be obsolete
• Industry experts are referring to this initiative as the first major global update to the SWIFT network in over 40 years

2. Why are SWIFT embarking on SWIFT CBPR+

Well, some say its make or break time for SWIFT, SWIFT need to embrace the latest and greatest standards – and more importantly need to standardise/harmonise the formats/data exchanges across financial institutions (FI’s) and financial market infrastructures (FMI’s).

SWIFT CBPR+ is being fast tracked by various financial market infrastructures moving to ISO 20022. for example:

• TARGET2 – 20th March, 2023
• EBA Clearing – 20th March, 2023
•  UK CHAPS – 19th June, 2023
• Fedwire – 10th March, 2025

3. SWIFT CBPR+ Timeline

The following picture (slightly out of date) from SWIFT is quite interesting as it highlights the wider financial ecosystem move to ISO20022

4. How are Corporates Affected by SWIFT CBPR+

This is where it gets interesting…

• SWIFTs CBPR+  overview indicates “bank-to-corporate and corporate-to-bank message exchanges within the Standardised Corporate Environment (SCORE) are not in scope of the ISO 20022 adoption programme.”
• As a result SWIFT CBPR+ should not impact corporates using formats exchanged within SCORE – think MT101, MT940, MT942
• Corporates should be able to exchange SCORE messages as normal, but if you’re sending/receiving some messages that are not part of the arrangement – you maybe impacted…

But corporates need to be prepared for SWIFT CBPR+ and the migration to ISO 20022 XML (chances are you’re already on the journey)….

5. What can Corporates do to prepare for SWIFT CBPR+

• Ensure you understand all SWIFT messages your organisation is exchanging over the SWIFT network (most importantly which MT1*, MT2*, MT9* series messages)
• Which systems are sending / receiving these messages
  • Work with your internal IT department or system vendor to understand if these systems have a ISO 20022 migration path
• Document which banks you’re exchanging these messages with, and understand if the bank will continue to support the inbound/outbound messages
• Consider implementing SWIFT ‘In-Flow Translation Service’, where you receive the multi-format – both the MT and ISO 20022 MX message, this application will split out (if that’s what you want) the MT piece of the message so your systems can continue to run without impact
• Reach out to SWIFT and understand your  SWIFT User Category – for example you may be a corporate, but perhaps you’re exchanging special financial messages which required you to register as something other than SCORE (SWIFT for Corporates)
• Don’t think of this as a SWIFT CBPR+ project, rather recognise the benefits of migrating to ISO20022

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