May 15 > 16
Wednesday 15 May
Understanding, developing and testing file specifications for your bank on-boarding or migration project. Tim Tor from Natwest will talk us through their recent MyStandards roll out and describe how it is helping Natwest business customers with technical bank on-boarding and file testing.
Tomorrow’s payment validation capabilities unveiled. The best type of payment investigation is one that never happens. SWIFT is working with the industry to develop a payment prevalidation service so payment details can be validated before the payment is sent. Harcus Copper from Barclays and chair of the UK SWIFT Corporate Access Group talks us through this initiative.
The payments landscape is evolving at an incredible pace. Today more than ever, the corporate treasury paradigm is being shaped by a new reality that demands greater transparency, efficiency and certainty.
Endorsed by 420+ banks globally and live since early 2018, SWIFT gpi represents one of the most significant and impactful innovations to cross-border payments. But how does this new standard in international payments generate added value for multi-banked international corporations? In this session, you will hear from your peers and banks how SWIFT gpi is already transforming cross-border payments, and most importantly how you can already leverage this information in your treasury systems.
Barbara Casu is a leading academic and will cover the following aspects in a scene-setting talk as we dive into the challenges of KYC in the corporate banking world.
- The evolution of financial crime enforcement worldwide
- Post-crisis AML and KYC fines data: an overview
- Global compliance and regional differences: fines by type and region
- US enforcement agencies and regulators: compliance and economic sanctions
- The cost of compliance for financial institutions: dealing with multiple regulators
- What to expect going forward
Thursday 16 May
Request-to-pay is part of the gpi for Corporates roadmap given the importance of such a service. Indeed, corporates raised the concerns they are facing today in cross-border trade: no control on payment when invoice sent, lack of visibility, cumbersome reconciliation invoice/payment, operational and processing cost, invoicing fraud… That is why SWIFT is today leveraging the capabilities of the gpi for Corporates platform to bring simplicity and efficiency to the current processes.
How is this request-to-pay service going to look like? Which benefits will SWIFT bring with this solution compared to the existing processes? What is the expected timeline?