23 April 2015
London

SWIFT Business Forum London 2015

Agenda

Thursday, 23 April 2015

8:00 – 9:00 a.m. 

Registration, breakfast and exhibition

9:00 – 9:10 a.m. 

Opening remarks - Arun Aggarwal, Managing Director, UK, Ireland & Nordics, SWIFT

9:10 – 9:30 a.m.  

Opening Keynote - Sir David Clementi, Chairman of Virgin Money and Former Deputy Governor of the Bank of England

9:30 – 10:30 a.m. 

Opening panel: Harnessing disruptive technology in wholesale financial services

The massive impact of disruptive technologies – mobile, social, big data, real time, cloud – on consumer financial services is well-documented, but how is technology disruption reshaping the wholesale financial services landscape? The challenger banks that have taken advantage of disruptive technologies to carve out opportunities in the retail banking business are now rounding on commercial banking. As technology barriers break down, there are questions about the need for intermediaries to facilitate financial transactions. New funding models like crowd-funding offer alternative routes and the rise of social media is impacting the advisory space. Shadow banking activities continue to increase and even the pensions and insurance worlds could feel the effects of technology-driven disruption. Bitcoin is challenging traditional thinking and the underlying blockchain technology could be set to be more disruptive still. Overall, the change brought by technology disruption promises to be significant, so do today’s established financial services firms still have time to fight back? Do they have the right culture, the right talent, the right mind-set? What can they learn from the challengers? This session will explore if and how ‘traditional’ wholesale financial services can be transformed by harnessing disruptive technology and who will be the likely winners and losers.

  • Christophe Chazot, Group Head of Innovation, HSBC 
  • Craig Donaldson, CEO, Metro Bank
  • Gottfried Leibbrandt, CEO, SWIFT
  • Daniel Marovitz, President, Europe, Earthport
  • Derek White, Chief Design Officer, Barclays
  • Andrea Catherwood, Broadcaster and TV Presenter (moderator)

10:30 – 11:00 a.m. 

Coffee break and exhibition open

11:00 – 12:00 a.m. 

Dedicated business streams

Investment managers forum - Pensions: How will a “decade of innovation” in the retirement industry impact the consumer?

6 April marked the first day of the Government’s reforms on pensions coming into effect. People aged 55 and over can now withdraw any amount from a Defined Contribution scheme as well as have access to free guidance from the Government’s Pensions Wise service. Will people trying to access their pensions under the new reforms be able to withdraw their money? Will the industry be able to cope with the number of withdrawals? Transferring to other schemes might be the only option for many savers if their current schemes are not able to accommodate. All of these changes will also impact the industry landscape as different initiatives continue to evolve such as auto-enrolment and automatic transfers. In this context, which players will be able to seize the opportunities? Will it be the Direct to Consumer platforms or the large asset management firms? The “decade of innovation” announced by Steve Webb has only just begun.

  • Helen Dean, Executive Director, Product and Marketing, NEST
  • Jamie Jenkins, Head of Pensions Strategy, Standard Life
  • Tom McPhail, Head of Pensions Research, Hargreaves Lansdown
  • Jane Vass, Head of Public Policy, Age UK
  • Jeffrey Mushens, Technical Director, TISA (moderator)

Compliance forum - Financial crime compliance: in conversation

What keeps global heads of compliance at major financial institutions awake at night? With the focus on financial crime compliance greater than ever, the profile of the compliance function has never been higher. Does increased visibility and authority make the compliance job harder or easier? Is there consensus around the optimal organisational model for the modern compliance function – and is there yet enough understanding about compliance challenges and what they mean in other areas of the business? After record levels of investment in compliance, are monitoring capabilities up to scratch, or are there still gaps to be filled? What is emerging as best practice in terms of technology solutions for compliance? And critically, how are leading banks balancing the need to meet world-class standards of compliance while also maintaining customer relationships, innovating and exploiting new business opportunities?

  • David Deane, Group Head of Client & Data Services, Deutsche Bank
  • Jean-Marc Guiteau, Global Head of Compliance Operational Risk, BNP Paribas 
  • Cate Kemp, Global Transaction Compliance Director, Lloyds Banking Group
  • Tom Scampion, Partner, Enterprise Risk Services, Deloitte (moderator)

Collateral management challenges - Optimisation through automation
Brought to you by Clearstream

The new regulatory environment has seen a growing interest in the use of collateral and the management of collateral in general. As a result of Basel III, EMIR and Dodd-Frank, there are a number of initiatives which signify that liquidity requirements as well as derivative exposures will need to be collateralized using either cash or non-cash assets. Many firms are looking at how they can streamline operational processes and invest in technology and automation to support their future needs. This panel will look at some of the opportunities that exist, the challenges that the market faces and how the collateral management space will evolve in the near future.

  • Ross Dilworth, Global Head, Collateral & Margin Services, Barclays
  • Richard Glen, Head of Global Securities Financing Sales and Broker-Dealer Relations, UK and Ireland, Clearstream Banking
  • Phillip Langton, Head of Collateral Management, NetOTC
  • Richard Wilding, Head of Collateral & Risk, Eurex Clearing
  • David Field, Founder, The Field Effect (moderator)

Three of the pillars of MiFIR & MiFID II: Transparency, Data Publication and Reporting
Brought to you by CME Group

The most important new piece of financial market regulation on the horizon is MiFIR. Its implementation, along with MiFID II, in January 2017, will see the existing MiFID requirements both broadened and extended, with impacts on the European financial markets across a range of products and institutions. This session will focus on three core requirements - Transparency, Data Publication and Reporting - with input to the discussion from the buy-side, the trading community, the sell-side, and the professions. MiFIR introduces pre and post trade Transparency requirements for derivatives, bonds and structured finance products. National regulators’ decisions as to what is (and what is not) a liquid market will have implications for both pre- and post-trade publication. MiFID II proposals include Data Publication issues such as who is authorised, the publication chain of post-trade information from investment firms and trading venues as well as the content of the published information. The MiFIR Transaction Reporting regime provides for a number of transaction and reference data reporting requirements. Discussions have focused on the appropriate format for reporting, how a ‘transaction’ is defined, aligning reporting with EMIR, as well as the obligation to maintain records of orders. 

  • Matthew Gravelle, CME Government Relations
  • Joe Halberstadt, Principal Standards Consultant, SWIFT
  • John Herbst, Partner, Norton Rose Fullbright 
  • Ed Newman, Senior Manager, Business Risk Services, Grant Thornton
  • Daniel Corrigan, CEO, CME European Trade Repository (moderator)

 

SWIFT Auditorium - Corporate treasury management: shifting from an operational to a strategic focus

The need for efficient corporate treasury management is greater than ever. Corporates of all sizes are looking to optimise their internal processes and banking relationships in order to have accurate and timely cash visibility – and the corporate treasury role is transitioning towards a strategic instrument for the corporates business. Reflecting this, SWIFT is evolving its products and services to further support corporates and their banks, and this session will explore through interactive discussion and case studies how both corporates and banks are increasingly benefiting from the SWIFT for Corporates offering.

  • Andre Casterman, Global Head, Corporate and Supply Chain Markets, SWIFT
  • Neil Gray, Senior Sales Manager, Corporates Business, EMEA, SWIFT

12:00 – 1:30 p.m. 

Lunch, networking and exhibition open

12:15 – 1:15 p.m. 

Innotribe Start-Up Pitches

Following the London Showcase of the Innotribe Start-Up Challenge, five winners will pitch their solutions.

12:15 – 1:15 p.m. 

SWIFT KYC Registry update

12:15 - 1:15 p.m

Intraday liquidity and Basel III compliance
Brought to you by Vodafone and Planixs

1:30 – 2:25 p.m. 

Dedicated business streams

Investment managers forum – The future of funds automation

The wave of regulation across Europe has continued to increase the pressure on margins.  In turn this has pushed operational efficiency even further up the industry’s agenda.   What have been the recent significant wins in automation, what areas of fund distribution have been highlighted as the next targets and how will these automation improvements be delivered?

  • Richard Barrett, Executive Director Operations, IFDS
  • Olivier Portenseigne, Chief Commercial Officer, Fundsquare
  • Tony Stenning, Head of UK Retail, Blackrock
  • Neil Wise, Vice President, Investment Funds Services, Clearstream
  • Olivier Lens, Head of Funds & Investment Managers, EMEA, SWIFT

Compliance forum - Raising the bar: charting the future of KYC

The regulators continue to raise the bar when it comes to fighting financial crime. The 4th AML Directive requires financial institutions to implement even more watertight know your customer (KYC) procedures. What is the medium to long-term business impact of the regulators’ increasing emphasis on fighting financial crime? From an operational standpoint, how big is the challenge becoming, and what can the banks do to meet their regulatory obligations in the most effective and efficient way?

  • Peter Drake, AML Head EMEA, Treasury and Trade, Citi 
  • Thomas Piontek, Head of Regulatory Services Commerzbank AG
  • Russell Saunders, Managing Director, Global Payments, Lloyds Banking Group
  • Mark Taylor, Managing Director, Equiniti Investment Services
  • Guy Sheppard, KYC Product Market Manager, SWIFT (moderator)

Corporates forum : Are the banks meeting the needs of the corporates ?

The role of group treasurers has become significantly more strategic over the last few years and they now occupy a key position within large corporations and multinationals. In addition to handling traditional treasury tasks such as optimising cash management, liquidity and balance sheet, treasurers increasingly also focus on working capital management, risk mitigation and trade finance. How are corporate requirements evolving? How can banks remain the preferred financial partners of corporates? What are the new realities and key investments that banks now need to focus on? Are banks adapting fast enough to respond to the needs of their large corporate clients?

  • Nick Dadswell, Director, Finance Business Services, Schneider Electric
  • Neil Garrod, Treasurer, Vodafone
  • Philip Hong, Director, Head of Channel Services EMEA, Citi 
  • Charles-Henry Dubarry de Lassale, Head of Corporate Innovation & Solutions for Global Payments and Cash Management, HSBC
  • Gary Campkin, Director of International Strategy, The CityUK (moderator)

The impact of the DB funding code on pension scheme risk management

Brought to you by KAS BANK

The Pensions Regulator’s DB code of practice is designed to help trustees and sponsoring employers to agree balanced funding plans for their pension schemes. It requires pension funds to work more constructively with their sponsoring companies, but what does this mean in practice, and how does it affect the risk management process? How much clarity is there on the risks being run – reputational, investment, cost, liability – and how could greater transparency improve risk management? What should corporate sponsors do to work more effectively in partnership with their pension schemes to mitigate these risks?

  • Neha Bhagrava, Investment Consultant, Redington
  • Jonathan Reynolds, Client Director, Capital Cranfield Trustees
  • Chris Sier, Managing Director UK, KAS BANK (moderator)

Update on Open APIs
Brought to you by Innovate Finance and the Payments Council
and the BBA

This session will bring you up to speed on the progress of HM Treasury’s investigation into the use of Open APIs in banking. What has happened so far, and what are the next steps? What are the opportunities and challenges for the banks, and how can players in the UK market work together to ensure the best outcome for financial services providers and their customers?

  • Rhiannon Butterfield, Head of Regulatory and Government Engagement, Payments Council
  • Irene Graham, Executive Director of Business Finance, BBA
  • Dan Morgan, Head of Policy and Regulation, Innovate Finance

1:30 - 2:10 p.m.

SWIFT Auditorium - Payments through the eyes of SWIFT data

The payments industry is changing under the pressure of regulatory compliance, economic shifts and new entrants. What can SWIFT data tell us about key aspects of this shift?
- Changes in currency usage – what is the impact on GBP?
- Payment intermediation – is the reduction in correspondent relationships resulting in more nested activities?
- Intraday liquidity reporting – banks are building up their capabilities to report on intraday liquidity: is this reflected in intraday reporting messaging?

2:10 - 2:50 p.m.

SWIFT Auditorium – ISO 20022 in practice

ISO 20022 is being implemented in multiple jurisdictions around the globe and has reached a 'tipping point' in its maturity cycle. It is both a new standard as well as an enabler for overcoming business challenges in both the payments and securities market sectors. What is being adopted where? What are the drivers of this faster-paced adoption? How is SWIFT supporting these adoption communities and what tools and services are available to help accelerate the roll-out? How can your institution integrate this new enabling technology in your own plans for improving automation and lowering cost and risk in operational processes?

  • Polly Quinn, Senior Product Manager, Market Infrastructures & Regulatory Change, Bank of America Merrill Lynch
  • Kurt Ryelandt, Head of EMEA Standards and Technical Services, SWIFT

2:35 – 3:30 p.m. 

Dedicated business streams

Investment managers forum - Outsourcing: The shifting dynamic

The landscape for investment management outsourcing is changing. The outsourcing trend began with transfer agency, then middle and back office, and then stalled – but the activity is now starting to ramp  up again for functions such as regulatory reporting. How are the drivers for outsourcing changing, and how strong is the regulatory driver? What else is there to outsource – or have we reached the limit? How can outsourcing providers accommodate the increasing complexity of outsourcing models? And what impact – if any – does outsourcing have on a fund’s performance and operating risk?

  • Mathew Davey, Head of Asset Manager Client Management Group UKMEA, State Street
  • Armin Schwienbacher, Professor of Finance, Université Lille 2 and SKEMA Business School, France
  • Lee Toms, Head of Investment Operations, Legal & General
  • Terri Van Praagh, Senior Vice President, Head of Investment Operations Outsourcing, Northern Trust
  • Bob Currie, Editorial Director, Financial Services Research (moderator)

Compliance forum - Sanctions compliance: achieving transparency in securities flows

In light of the increased use of financial sanctions globally, and regulatory pressure to maintain strong sanctions compliance capabilities, the spotlight has fallen on the securities industry. Regulators such as OFAC are concerned about the lack of transparency in securities flows, and the difficulty in establishing beneficial ownership in securities transactions. What are the challenges when it comes to identifying beneficial owners, what could some of the solutions be, and which players need to work together to establish them and eliminate this dangerous area of uncertainty in the sanctions compliance landscape?

  • Justin Chapman, Senior Vice President, Global Head Process Management, Northern Trust
  • Mark Gem, Chief Compliance Officer and Executive Board Member, Clearstream
  • Olivier Goffard, Head of Group Compliance & Ethics, Director, Euroclear
  • Angus Fletcher, Director, Head of Market Advocacy & Business Strategy, Global Transaction Bank, Deutsche Bank (moderator)

Corporates forum - Trade and Supply Chain: changing Corporate requirements

Brought to you in association with Lloyds Bank

Digitisation of trade information flows has been a feature of corporate to corporate supply chain management communication for some years. Digital solutions offered by innovative business networks such as essDOCS and e-invoicing platforms offer the potential to support bank and non-bank financiers in their aim to remain intermediated in the financial supply chain, notwithstanding the continuous trend away from traditional documentary settlement to open account settlement. The Bank Payment Obligation was also developed as a means enable the banks to remain relevant to their clients trading activities. How are the banks incorporating these new developments into their propositions and how are corporates benefiting. Are these innovations being embraced by both global and local banks?

  • Rene Chinnery, Head of Supply Chain Finance, Lloyds Bank 
  • Ashley M. Skaanild, Head of Trade Finance and Chemicals, essDOCS 
  • Sonia Rossetti, Managing Director, Head of Product West, Transaction Banking, Standard Chartered
  • Andre Casterman, Global Head, Corporate and Supply Chain Markets, SWIFT
  • Lionel Taylor, Managing Director, Trade Advisory Network (moderator)

What is the future of money?

Do you know what cryptocurrencies mean for your business and for the future of financial services? Are you leveraging blockchain? Are these developments and opportunity or a threat for traditional financial services providers?

The SWIFT Business Forum London 2015 is preceded by the annual Finextra Future Money conference and the London showcase of the SWIFT Innotribe Start Up Challenge. As part of the interconnected three-day event on disruption and innovation created by SWIFT and Finextra, this session will bring you up to speed on discussions at Future Money and further explore the impact on financial services of cryptocurrencies and blockchain.

  • Lee Gibson Grant, Consultant, Coinstructors
  • Nick Grove, Founder, NXT 2 Pay
  • Dan Morgan, Head of Policy and Regulation, Innovate Finance
  • Mark Smargon, Vice President, Product, Founder, COLU
  • Edan Yago, CEO, Epiphyte
  • Elizabeth Lumley, Journalist, Finextra (moderator)

2:50 - 3:30 p.m.

SWIFT Auditorium – A journey into the SWIFT Cloud

With a strong current base of 1300+ clients, the SWIFT Cloud is moving from strength to strength. This session takes you on a journey through the past, present and future of the SWIFT Cloud portfolio. We chart its growth from the original launch of Alliance Lite, through to the development of  Alliance Lite2, and present our unique range of SWIFT Cloud products, such as Alliance Remote Gateway and Alliance Lifeline. Subsequently, we present our future roadmap for taking the SWIFT Cloud forward.

3:30 – 4:00 p.m.

Coffee break, networking and exhibition open

4:00 - 4:45 p.m.

Closing plenary: Real-time payments: Strategies for success

The global move to real-time payments (indeed everything) is gathering momentum. Market infrastructures and financial services firms alike must re-engineer their systems and processes to keep pace with customer – and regulator – demand for immediate and secure movement of money. But the challenges are significant. How can banks dependent on legacy systems and batch processes successfully digitise the core of their operations in order to operate in a real-time world? What does it mean to manage fraud and risk when payments are made in real-time and the opportunity to make checks on suspicious transactions is radically reduced? With different national markets moving at different speeds, how can banks ensure that every investment they make is ‘real-time proof’, and what can be done to ensure interoperability between the real-time payment systems being created around the world? This session will explore how technology and collaboration can be exploited to enable banks to stay ahead of the real-time revolution – and even to innovate around real-time to retain competitive advantage.

  • Professor Robert Kauffman, Associate Dean, School of Information Systems, Singapore Management University
  • Michael Mueller, MD Global Head of Cash Management, Barclays 
  • Craig Tillotson, Chief Executive, Faster Payments 
  • Alain Raes, Chief Executive EMEA and Asia Pacific, SWIFT
  • Maurice Cleaves, CEO, Payments Council (moderator)

4:45 - 5:00 p.m.

Closing remarks - Arun Aggarwal, Managing Director, UK, Ireland & Nordics, SWIFT

5:00 - 6:30 p.m. 

Cocktail, networking and exhibition