The French community marks its fifth business forum in Paris
Comment intégrer les enjeux domestiques dans la dynamique européenne.
Published on 13 November 2008
Over 200 SWIFT customers and partners gathered at the Cœur Défense for the fifth business forum Paris. This year’s forum focused on the challenges the domestic community is facing as a result of European harmonisation. Inevitably, the global turmoil faced by the financial industry was an integral part of the debates. 
Setting the scene for the day, André Casterman, Head of SWIFT France, addressed the challenges of the French community to reinforce its position in Europe and globally, and how the SWIFT community can support further development and initiatives. The Etebac (Echanges télématiques entre les banques et leurs clients) migration, the importance of reliable and consolidated market infrastructures and the need of corporates for innovative banking offerings are themes that were covered throughout the programme of the day.
Edouard de Lencquesaing, moderator of the debates, reflected the need, in the current financial landscape, to go back to the basics; taking on-board responsibilities that have common sense and bringing ambitious innovation to the table that will add value to the banking services. “The industry has a responsibility to be collectively ambitious. One response is SWIFT, a modern cooperative model that will ensure the basics of operational stability while bringing the innovation needed to reduce costs, increase reach and ensure secure and common language communication.”
Three round tables placed the debate at the heart of the event and were the opportunity for 22 senior representatives of the French industry to debate and share their experience on subjects that are important to them, their institution and the community.
Funds distribution : from regional to international
Cost and risk reduction, time constraints and worldwide competition are at the heart of the future development of the funds industry. The UCITS "Undertakings for Collective Investment in Transferable Securities" brand contributes to the international positioning of the European fund industry, especially in Asia and Latin America, and France plays an important role in this industry. 
What else needs to be done? Panelists raised the need for more operational efficiency, more interoperability and the need for expansion at international level. Asset managers are expecting easier access to SWIFT and ISO 20022 standards. Jean Sonneville, Head of Investment Managers, SWIFT said: “The new Alliance Lite provides an easy SWIFT connection to asset managers and ultimately access to international standards.”
European harmonisation: the key role of market infrastructures
Panelists raised the importance of robust market infrastructures like TARGET2, the Euroclear Single Platform and the development of CCBM2, T2S and Link Up Markets. These initiatives are essential to the development and stability of the European landscape. 
Pierre Slechten, CEO Euroclear France said “Our role as a market infrastructure is to provide more services in terms of securing the transaction flow of our clients”.
Alain Pochet, COO Head of Banking Services, BNP Paribas Securities Services “In the recent turmoil, TARGET2 ensured the flow of liquidity that prevented an ever bigger crisis in Europe. The money we put in TARGET2 definitively provided return on investment over the last 6 weeks. In this context, Pochet added “We are expecting SWIFT to continue to manage the complexity, to secure the exchange of transactions and to reduce our costs. As shareholders, we need to help SWIFT to help us.”
Transaction banks – corporates
Three main themes were discussed between representatives of the banks and the corporates. 
1. SEPA and its impact on corporates which aims at optimizing the end-to-end transaction chain for the benefit of the end customer.
2. The evolution of SWIFTNet in the bank to corporate relation. Panelists outlined their appreciation that the SWIFT offering is evolving towards the mid-size corporates. Representing the Mid cap corporates, Lionel Garnier Denis, Group treasurer, Alten said: “We choose SWIFT because the solution simplifies the banking communication, that the solution is international and evolves around our own development needs and ultimately helps us reduce our internal costs.”
3. The next big challenge for the French banks is the Etebac migration impacting 80,000 corporates in France. “We are currently launching an industry migration of the existing corporate-to-bank standards. We are convinced that the current SWIFT offering can support the take-up of this challenge.” said Marcel Roncin, President CFONB.
Alain Raes, Chief Executive of EMEA, SWIFT positioned these initiatives and challenges from the SWIFT community perspective. He reinforced the crucial role played by market infrastructures like TARGET2 or CLS and the need for SWIFT to continue its efforts to deliver robust and reliable communications platforms, operational excellence and the development of worldwide standards.
Closing the day , Jean-Yves Garnier, Directeur adjoint, responsable des relations interbancaires, NATIXIS SWIFT board member and president of the GUF (Groupement des utilisateurs de SWIFT en France) outlined his expectations from the local community and raised the importance of collaboration: “Next to the healthy competition between financial institutions, there is a place for a strong French collaborative framework. This will allow us to position ourselves in the global landscape, through a powerful collective proposition”.
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