20 April 2016
London

SWIFT Business Forum London 2016

Agenda

Wednesday, 20 April 2016

08:00

Registration Refreshments and Exhibition

09:00

Welcome

 

  • Javier Pérez-Tasso, Chief Executive, Americas & UK Region, SWIFT

09:15

Opening Keynote

 

  • Eileen Burbidge, FinTech Envoy, HM Treasury

09:30

Plenary Panel: Build the Future
 

Panelists:

  • Andrew Hauser, Executive Director, Banking, Payments & Financial Resilience, Bank of England
  • Gottfried Leibbrandt, CEO, SWIFT
  • Marion King, Director of Payments, RBS
  • Blythe Masters, CEO, Digital Asset Holdings

Moderator:

  • Daisy McAndrew, Journalist & Reporter 

10:30

Networking Refreshments and Exhibition

11:00

Workshop Session 1

Delegates choose to attend one of the following streams:
 

  • Payments

Real-time Payments: How to Make RT-RPS Payments Worthwhile for Banks

As the roll-out of instant payments schemes continues, real-time payments systems are no longer being seen as the sole desired output, but as a starting point to develop new compelling customer products and services.  While banks face operational and commercial challenges to integrate the ‘instant payments plumbing’ in their organisation, moving to real-time payments also generates new possibilities not just in terms of consumer propositions but also across corporate cash management, mobile services for SMEs, agency services to other financial institutions and more.  Banks are moving to identify these opportunities to boost customer loyalty, tap into new revenue streams and acquire new customers.  The panellists in this session will explore how the investment in real-time retail payment systems can be an enabler to seize new, relevant business opportunities.

 

Panellists:

  • Harry Newman, Head of Market Initiatives EMEA, SWIFT
  • Becky Clements, Head of Industry Engagement and Payments Change, Metro Bank
  • Tom Schickler, Managing Director, HSBC

Moderator:

  • Gerry Gaetz, CEO, Canadian Payments Association

 

  • Technology

Blockchain - Beyond the Hype

Blockchain has hit the mainstream and research investment in the technology is hitting all-time highs.  Financial institutions are coming together to refine and evolve blockchain solutions and excitement is growing in the industry.  But what is really driving this – is blockchain “just another fad” or will it truly disrupt our existing businesses?  What are its benefits?  How are the downsides being tackled?  And is the technology itself, or the collaboration and dialogue it is initiating, the real change driver?  In this session, our panel will debate whether there is more to blockchain than just the hype.

 

Panellists:

  • Vitalik Buterin, Founder, Etheruem

  • Matt Hampson, CIO, Nomura

  • Simon Taylor, VP Entrepreneurial Partnerships, Barclays

Moderator:

  • Stephen Gilderdale, Managing Director, UK, Ireland and Nordics, SWIFT

 

  • Securities

Securities Regulation: Balancing Deliverables

The Bank of England’s recent report on the supervision of Financial Market Infrastructures (FMIs) highlights some of the Bank’s key priorities in securities for 2016 – including FMI recovery and resilience. 

What are the key challenges for FMIs and securities market participants to ensure resiliency and ensure their ability to recover? Do these differ between FMI type, and if so how? What should the different types of FMI focus on most closely and why? (ie. financial, cyber, operational resilience)?

 

Panellists:

  • Angus Fletcher, Director, Head of Market Advocacy, Global Transaction Banking, Deutsche Bank
  • Tina Hasenpusch, CEO, CME Clearing Europe
  • Vikesh Patel, Chief Operating Officer, LCH.Clearnet

Moderator:

  • Natasha de Terán, Head of Corporate Affairs, SWIFT

 

  • SWIFTLab

Corporate Onboarding Streamlined

Find out how a direct connection to SWIFT with a light footprint, your own standards testing portal, and cloud-based sanctions screening of payment instructions, work together to shorten and streamline the onboarding process for your corporate customers. In this session, you will see three key products in the SWIFT portfolio in live demos, and experience how they interact to make an end-to-end solution.

 

  • Hosted by Clearstream

Post-trade challenges and opportunities in ETFs

As multi-listed securities, ETFs are often causing significant settlement challenges when there is a need to transfer positions from one settlement venue to another. Market experts will discuss developing solutions to address those challenges as well as the opportunities it could bring to help on the liquidity of that market. Solutions and opportunities discussed will cover the ICSD issuance model, but also the domestic CSD issuance model and its T2S opportunities. How can we favour the mobilisation of ETFs as collateral and increase the lending possibilities will also be examined.

 

Panellists:

  • Anna Neumann, KCG Europe Ltd
  • Antonette Kleiser, Vice President, European ETF Product, Brown Brothers Harriman
  • Sander  van Nugteren, Director, Capital Markets iShares
  • Bernard Tancre, Executive Director, Investment Fund Services, Clearstream

Moderator:

  • Bob Currie, Editorial Director, Financial Services Research

 

  • Hosted by Deutsche Bank

Segregated vs Omnibus Accounts: Balancing Collateral Mobility with Investor Protection

Europe is in the midst of the largest infrastructure overhaul in a decade, presenting the securities industry with opportunities to streamline processes and to become more efficient. Amidst these opportunities, however, increased regulatory demands for collateral are converging with an increase in regulators’ priorities towards investor protection, feeding through to operational processes and account structure discussions. This convergence is causing a dilemma as the greater segregation of assets can impact the efficiency of the collateral programs, and potentially impact the supply of assets made available. This panel looks at how the buy side is responding to these challenges.

 

Panellists:

  • Swen Werner, Managing Director, State Street

  • Stephan Pouyat, Global Head of International Markets, Euroclear

  • Richard Glen, Senior Vice-President, Global Securities Financing Sales - UK, Ireland & Americas, Clearstream

Moderator:

  • Graham Ray, Managing Director, Deutsche Bank

 

  • SWIFT Institute

CREST - 20th Anniversary Review
2016 marks the 20th anniversary of CREST, the UK’s securities settlement system.  The SWIFT Institute has co-sponsored research to analyse the design, implementation and impact of CREST on the financial markets.  Twenty years ago it was the most disruptive and innovative system to be introduced into a fragmented and paper based market infrastructure. The changes made by financial institutions to accommodate CREST included new system designs, electronic processes and changes in the working lives of people in the financial industry.  With such widespread change, how did the industry come together to build a long lasting solution on time and within budget?  Did CREST achieve what it originally set out to do?  What lessons can be learned for other markets?  Disruptive innovation is more prevalent today than twenty years ago, so what does the future hold for CREST specifically and for the UK securities market generally?  In this session you will hear from the Professor leading the research project, along with the founder and first CEO of CREST, and the current owner of the system.

 

Panellists:

  • Iain Saville, CBE, Former CEO, Euroclear UK & Ireland
  • Hermann P. Rapp, Senior Lecturer
  • Peter Norman, Author of Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market    

Moderator:

  • John Trundle, CEO, Euroclear UK & Ireland
12:00 Networking Lunch and Exhibition

13:30

Workshop Session 2

 

Delegates choose to attend one of the following streams:
 

  • Payments

Future of Payments: A Burning Platform?

More than £4 billion of investments were made in the FinTech Industry during the period July 2015 – January 2016. Fintech is hot, and many startups are entering the financial services landscape targeting payments business. And recently, SWIFT announced its global payments innovation initiative. Are we witnessing head-to-head competition or a unique collaboration opportunity between FinTech startups and innovative incumbents? Two host moderators will guide you through this session and ensure a deep interaction with payments experts and the audience in an exciting interactive format.

 

Panellists:

  • Wander Rutgers, Head of Banking, Transferwise
  • Carlos Sanchez, CEO, Orwell Group
  • Richard Martin, Head of Cash Management, Barclays
  • Matt Loos, Executive Director and Senior Product Manager, Treasury Services, JP Morgan

Moderator:

  • Christian Sarafidis, Chief Marketing Officer, SWIFT

 

  • Technology

Running the Bank in the Face of Increasing Cyber Threats

Cyber attacks hit the headlines on a daily basis, and the banking sector is a top target.  In a world built upon trust and dependent on reliable technology, financial institutions can stand or fall based on their upfront management of cyber risk and readiness to respond in the event of an attack.  But what is needed to be a leader in the domain of business resilience?  How does this extend beyond the more traditional view of technology risk?  And how can these security investments be managed against regulatory and business-growth led demands?  In this session, industry experts will discuss the challenges of building effective cyber defence alongside the day-to-day demands of running the bank.

 

Panellists:

  • William Brandon, CISO, Bank of England
  • Craig Rice, Director of Security, Payments UK

Moderator:

  • Steve Gilderdale, Managing Director, UK, Ireland and Nordics, SWIFT

 

  • Securities

The Future of CSDs

With the launch of T2S last year, CSDs across 21 countries will now use the system together with major banks.  With further regulation due for implementation over the coming years combined with the ongoing deployment of T2S, (I)CSD’s, CCPs, agents and custodians continue to re-define services offered to their clients.  Against this backdrop, CREST, the UK and Irish CSD is celebrating its 20th anniversary.  During this session, we will explore what CREST would look like today if it were born out of the current regulatory environment.  What new market models are being developed? What will be the face of the service provider? How far will they need to evolve to survive or expand?

 

Panellists:

  • Alessandro Zignani, Commercial Director Post Trade Division, LSEG
  • Goran Fors, Deputy Head of Investor Services, SEB
  • Alan Cameron, Head of Relationship Management, BNPP
  • Alex Docks, JP Morgan

Moderator:

  • Stephen Grainger, Managing Director, Market Infrastructures & Experts, SWIFT

 

  • SWIFTLab

Where SWIFT Market Intelligence Meets Business Intelligence and Compliance

Discover how your SWIFT messaging data provides transparency on correspondent relationships and enables your institution to monitor and address financial crime risk with pinpoint precision. Combine your organisation’s data with market trends, and use dynamic data analysis to uncover new business opportunities and make informed decisions that help grow your business. Join us for this showcase of SWIFT’s compliance analytics and business intelligence portfolios and experience how data analytics make the difference. 

 

 

  • Hosted by Euroclear

How is the rise in D2C (direct to consumer) solutions impacting the funds industry?

RDR 3 years on… Has a balance between advice and technology been found? Does the RoboAdvice phenomenon bring clarity to this new industry? Does fresh competition mean better value for end investors? Whether it is new companies attracting new investors or existing companies moving investors from older propositions, or the wake up of Pension Investments through small pot transfers there are many ways to consider how to attract, retain or move clients to companies’ propositions. Is real straight through processing and no human contact to investments still necessary?

 

Panellists:

  • Phil Goffin, Director of Product Innovation, IFDS
  • Nick Stebbing, Director, Wealth Product Solutions, Pershing Limited
  • Christopher James, CEO, FNZ

Moderator:

  • Katrina Satorius, Global Head of FundsPlace, Euroclear

 

  • Hosted by Lloyds Bank

PSD2: A deep dive into the impact on payment services

PSD aims at establishing a modern and comprehensive set of rules applicable to all payment services in the European Union.  The revised Directive on Payment Services (PSD2) - adopted by European Parliament in October 2015 - enhances consumer protection, promotes innovation and improves the security of payment services.  How will this impact the Corporate Banking industry and what are the key challenges and future opportunities for both Banks and Corporates?  Our suite of specialists from Banking, Corporate and Fintech organisations will provide insight on the opportunities PSD2 gives to Banks and the key threats to traditional Corporate Banking posed by PSD2.  What will PSD2 mean for Corporates?  How does PSD2 sit amongst other regulatory pressures?  What are 3 key factors Banks need to consider in relation to PSD2?

 

Panellists:

  • Tim Decker, Head of Electronic Payments, Lloyds Banking Group
  • Tuomas Toivonen, Co-Founder, Holvi Payment Services
  • Frank Versmessen, Head of Regulatory Change, SWIFT

Moderator:

  • Emily Reid, Partner, Hogan Lovells

 

  • SWIFT Institute

The SWIFT Institute Challenge 2016
The inaugural SWIFT Institute Challenge invited university students across the UK to submit their innovative ideas on how to improve the remittances market by making processes simple for both sender and receiver, and improving safety, security and cost-effectiveness. Overall global remittances totalled GBP £391 billion.  However, costs remain high, with one of the biggest costs being Know Your Customer (KYC) checks on the recipients.  Banks are increasingly reluctant to take on and manage the risks posed by remittances, notably where they involve cash transfers.  What novel ideas have students come up with to meet this challenge?  In this session the ten best ideas will be pitched to delegates by the students themselves with delegates voting on their favourites. The winning student(s) will receive a prize awarded by Rt. Hon. Harriett Baldwin, Economic Secretary to the Treasury, City Minister, during the BFL closing plenary, and they will have the opportunity to go to Sibos Geneva in September.

14:35

Workshop Session 3

 

Delegates choose to attend one of the following streams:

 

  • Payments

Compliance: Managing Compliance When Utilising Alternative Payment Methods

The rapid development of third-party payment providers, particularly for online purchases, has facilitated business development and helped boost overall economic growth.  While regulation has increased exponentially for banks and other financial institutions, its implementation has been slower in the third-party payment space.  With some experts predicting 50% of all payments may take place on alternative platforms by 2020, financial institutions and compliance officers require clarity on how they will be affected by the changing payments landscape.  While regulation of alternative payment providers is forthcoming, will it be enough to protect consumers?  How should banks address Know Your Customer (KYC) and Know Your Customer’s Customer (KYCC) requirements in this space?  Can banks be held liable for the actions of payment providers who are not held to the same level of regulatory scrutiny?

 

Panellists:

  • Ian Horobin, SWIFT
  • Cate Kemp, Global Transaction Compliance Director, Lloyds Bank
  • Andrew Kaye, CEO, Transpat.com

Moderator:

  • Timon Molloy, Money Laundering Bulletin

 

  • Technology

Open APIs - Unlocking the Potential of Open Banking

Following the publication of a report by HM Treasury on open access, this session will debate the potential to improve efficiency and stimulate innovation in the UK banking landscape.  Access to banking data through flexible and open APIs will allow companies, including FinTech startups, to build new financial services and products that were previously not possible.  Our panel will discuss the opportunities and threats posed by opening up access to banking data; what role will the banks play?  Can data privacy be safeguarded? How will consumers benefit and what do they need to know?  Who will ensure that those accessing the data meet expected levels of security and resilience?  Join this session to hear directly from those building the future of UK banking.

 

Panellists:

  • Ruth Wandhöfer, Global Head Regulatory & Market Strategy, Citi
  • John Midgley, Global Public Policy, Intuit
  • Todd Latham, CMO, Curreny Cloud
  • Paul Taylor, CEO, Thought Machine

Moderator:

  • Adam Moulson, Business Development Manager, SWIFT

 

  • Securities

New Kids on the Securities Block(chain)
SWIFT sponsored research amongst other studies suggests that capital markets firms are no longer thinking whether to explore blockchain but how. Many participants in various business areas are investing to explore, and some firms have already announced an intention to implement. In this session we will assess the potential of distributed ledger technologies based on a number of use cases and debate if block chain is a solution looking for a problem.

 

Panellists:

  • Justin Chapman, SVP Global Head Market Advocacy & Innovation Research, Northern Trust
  • Alex Batlin, Senior Innovation Manager, UBS
  • Brendan Bradley, CIO, Eurex
  • Angus Scott, Head of Product Strategy and Innovation, Euroclear

Moderator:

  • Fabian Vandenreydt, Global Head of Securities Markets, Innotribe and SWIFT Institute, SWIFT

 

  • SWIFTLab

Correspondent Banking Rejuvenated - global payments innovation initiative

In recent years, an increasing number of fintech companies have entered the payment market, frequently pitching for the low-value person-to-person payments segment, but increasingly going up the value chain and offering alternative payments models to traditional correspondent banking. How are banks responding to this? Join this session to learn about the recently launched global payments innovation initiative from SWIFT. Designed for the corporate treasurer, the new service will enable banks worldwide to join forces and dramatically improve the customer experience in cross-border payments. Increased speed, transparency and predictability of cross-border transactions will become the core values of the new service.

 

Panellists:

  • Christian Westerhaus, Managing Director, GTB product Management, Deutsche Bank 
  • Saad Rahman, Global Clearing Product, Citibank 
  • Maarten Van Rossum, Barclays

Moderator:

  • Wim Raymaekers, Global Head of Banking Market, SWIFT

 

  • Hosted by Navigant

Evolving compliance trends: Are you ready?

FATF Recommendation 16 challenges financial institutions to combat money-laundering and terrorism financing by gathering originator and beneficiary data in their payments messages. Financial institutions strive to improve data quality in messages for payment screening and transaction monitoring. Representatives from Navigant and SWIFT will discuss the recommendation, clarify why it matters, and describe how improving data quality can lead to efficiencies in other areas of your compliance program. The panel will also discuss the New York State Department of Financial Services’ recently proposed regulation that would require senior compliance officials to certify that effective transaction monitoring and sanctions screening programs are established within their organisations. Lessons learned from similar attestation policies already enforced in the UK will be discussed, along with what type of response will be necessary to comply with the new regulation.

 

Panellists:

  • Dave Bradshaw, Associate Director, Navigant
  • Tim Mueller, Director, Navigant
  • Tony Wicks, Head of AML Initiatives, SWIFT

Moderator:

  • Paul Taylor, Director, Compliance Services, SWIFT

 

  • Hosted by Fiserv

Closing the books on outdated reconciliation processes – the move towards ‘true’ account reconciliation

Regulatory requirements, and the risks associated with issuing incorrect financial statements, mean institutions must be able to demonstrate robust financial controls and have confidence in the accuracy of the entire balance sheet. Add to this the ongoing need to streamline back-office operations, and automate the reconciliation of complex derivatives and other financial instruments, and you have a topic that requires attention. Join this panel session and hear various perspectives on how organisations are addressing these challenges today.

 

  • SWIFT Institute

The SWIFT Institute Challenge 2016 (continued)

15:30

Networking Refreshments and Exhibition

16:00

The SWIFT Institute Challenge 2016


The winner(s) of the inaugural SWIFT Institute Challenge will be announced.

 

  • Harriett Baldwin, Economic Secretary to the Treasury, City Minister
16:15

City Brexit Debate

 

"In or Out: Is the City better off inside or outside the EU?”The referendum on whether Britain should remain in the EU is set to be the defining political event of the year. From trade to taxation; immigration to employment, the landmark decision may have huge implications for businesses operating, or investing, in the UK. The latest opinion polls suggest an extremely tight vote with many voters still undecided. But whatis the City’s view? Would the City be better off with Britain inside or outside the EU? Would it grow faster in or out? What would the City gain and lose by leaving and staying? Political leaders from both sides will set out the City’s arguments for and against Britain’s EU membership. 

Moderator: 

  • Natasha de Terán, Head of Corporate Affairs, SWIFT

To ‘Remain’

  • Sir Vince Cable, former Business Secretary, 2010-2015

To ‘Leave’

  • ​Rt Hon John Redwood MP, Conservative Member of Parliament for Wokingham
17:00

Networking Cocktails and Exhibition

18:30 Close