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Work Sessions

Work sessions are a key feature of SWIFT Operations Forum Asia Pacific and offer a wealth of information about the latest and upcoming developments in SWIFT’s products and services.

Table of contents

Evolution of SWIFT’s Interfaces and connectivity

Alliance Cloud and Cloud Connect at a glance

Responding to customer demand and industry trends, SWIFT is expanding its options for customers moving to the cloud. 

  • SWIFT’s connectivity evolution initiative enabling effective and secure deployment on ‘hyper-scale’ public cloud platforms such as Microsoft Azure and Google Cloud.
  • Alliance Cloud, SWIFT’s next generation cloud-based interface, offering a worry-free, 24x7, fast scalable, easy-to-use unified channel, along its full suite of services

Join us in this session to see how day-to-day innovation at SWIFT is helping to transform its platform and gearing it for the future, including a sneak preview of Alliance Cloud with a best-in-class user experience.

The future of cross-border payments with SWIFT gpi

Role of gpi in cross-border payments

Customer expectations and needs continue to evolve as financial services industry across the world are under immense pressure to adapt and innovate to stay relevant. Especially in Asia Pacific, where innovation abounds, clients expect transactions to be fast, transparent and traceable, both domestically and cross-border. With SWIFT gpi, payments are credited to end beneficiaries within minutes – many within seconds. Hundreds of thousands of payments are being sent daily across 450 country corridors, in 140 currencies.

In major corridors, such as USA-China, gpi already accounts for nearly 50% of payment traffic. It is this early success and fast adoption rate that led to the decision to move to universal gpi adoption by end of 2020. Get more insights on business drivers behind SWIFT gpi and what this means for your institution in this session.

ISO 20022 Programme – Payments transformation through richer and quality data

Insights on ISO 20022 programme and practical implications

Following a large-scale industry consultation in April 2018, the SWIFT Board has recommended a migration of cross-border payment traffic to ISO 20022 starting November 2021. This migration will complete the payments processing in ISO 20022, which is also being adopted by high-value, instant and domestic payments schemes around the world.

Recently, SWIFT has also convened the first Cross-Border Payments and Reporting Plus (CBPR+) group, a working group of international payments experts that will formulate global Market Practice and Implementation Guidelines for the common rollout and implementation of ISO 20022 for cross-border payments.

Come to this session if you want to gain more insights on the ISO 20022 Programme, including practical implications of adopting ISO 20022 and SWIFT’s plan to help the community during the co-existence phase.

Cyber resilience and cyber intelligence sharing

How to navigate cybersecurity in the age of digital?

Cyberattacks ranked among the top five risks of doing business in APAC according to Global Risks Report 2017. Naturally, low awareness of cybersecurity and increasing cross-border payments open up numerous cyber risks in the region.

In an era of persistent cyber threats, cyber resilience is an evolving challenge. Bringing together information security, business continuity and (organizational) resilience, this area is rapidly gaining recognition and becoming an integral part of how we do business. Besides maintaining cyber readiness, it is also important to share cybersecurity threat intelligence in the event of cyberattacks.

In this session, you will learn from our experts about:

  • Critical cyber resiliency layers at SWIFT and how to better protect your SWIFT environment from persistent and sophisticated threats
  • How to access SWIFT ISAC portal for cybersecurity threat intelligence, what data is in there and how customers can get information in machine-readable STIX / TAXII format
  • SWIFT Customer Security Programme (CSP), updates on controls framework v2020, and understanding your counterparty’s CSP attestation level and integrating this compliance data into your risk management processes

Enhance the competitiveness of your payment operations with data and analytics

Part 1: Focus on established best practices

Banks in APAC are increasingly under pressure to reduce costs, build scalable processes and improve the experience of corporate and retail customers banking with them. SWIFT offers a variety of data and analytics solutions to help banks improve their payment operations and deliver on these objectives. This session will focus on best practices and proven-solutions that you can implement today:

  • Discover gpi Observer Analytics and how it can help you identify inefficiencies in your payment routing, review the performance of your correspondents and identify payment inefficiencies
  • Learn why Reference data has always been a key component in payment operations but also why it has now gained an even greater importance due to its contribution to fraud prevention and improvement in digital experience for your clients
  • Standards, when poorly managed, create cost and complexity. Learn how Standards tools can give you a competitive advantage in the context of corporate digitizing their interactions with banks, as well as with the migration to ISO 20022

Part 2: Focus on new developments and shaping the future

This session is a built-up on part 1, which focused on established best practices. As you know, SWIFT is committed to invest in its data and analytics solutions to meet the growing needs of the community. This will be an interactive session focusing on:

  • How SWIFT is and will be leveraging Artificial Intelligence to enhance existing solutions, use APIs to expose data to you and use our Standards tool to manage API protocols
  • A workshop with the participants to define what types of data-related solutions the industry should work on to make your life easier
  • Collaboratively identify topics that should be worked upon by SWIFT for the community: transactional data, reference data and Standards tools

Adoption of DLT and development of API in Asia Pacific financial services industry

Emerging technologies such as DLT, AI and the adoption of APIs (e.g. DLT, APIs and AI) are widely experimented across the industry with many use cases evaluated and tested. New players have also entered the retail market with innovative applications (e.g. WeChat and Alipay), disrupting the traditional banking model.

At SWIFT, we have been monitoring the development of DLT, API and AI together with the financial community. We have also contributed through the development of several Proof of Concepts (PoCs) such as the PayLater API framework, a POC on SSIs using a DLT, and giving standards expertise to a major infrastructure to create a DLT structure whose elements are aligned with standardized financial communications.

In APAC, API adoption is especially gaining traction in Financial Services driven by local regulations and Fintech activities. However, APIs developed in silo can lead to fragmentation. SWIFT is uniquely positioned in the industry to help harmonize APIs by fostering standardization for financial services.

In this session, we will run you through SWIFT’s API strategy, from the standardisation of financial APIs to the exploration of various use cases that we are looking at. We will take a closer look at SWIFT’s API roadmap and share information on the various activities that we are involved in globally and in APAC.  We will also demonstrate how the use of ISO 20022 business standards as the basis for APIs is removing friction from financial communications across technologies.

Financial Crime Compliance, the move to real time and insights from across Asia Pacific

Role of financial crime compliance in the move to real-time payments.

As the global trend towards real-time payment systems continues to accelerate, one of the most pressing issues for banks is how they can meet this expectation while still meeting regulatory and compliance expectations and avoiding undue risk.

Learn about the important role that financial crime compliance plays in the move to real-time payments and how that can support and enable business growth amidst geo-political uncertainty across the world.

Improving the security of payments in Asia Pacific

Understand SWIFT’s new Payment Controls service

Institutions continue to face significant regulatory and reputational risks related to cyber-fraud.

Understand how SWIFT’s new Payment Controls service can be used to protect your business from the repeat and persistent payment fraud attempts and how the new SWIFT gpi stop and recall capabilities can help institutions respond rapidly to fraud threats.

Alliance Messaging Hub

The future in financial messaging

Alliance Messaging Hub (AMH) is a future-proof financial messaging platform for financial institutions and market infrastructures. Scalable and customisable, AMH supports your business activities, with message processing allowing you to connect to multiple networks around the world.

With AMH, all of your financial flows can be orchestrated in a single hub, regardless of whether they require FIN, FileAct, ISO 20022, SEPA, local formats, instant payments, files, messages, or API calls. Needs that are common across flows, such as sanctions screening, routing rules, reference data, message display, auditing, workflow and integration capabilities, can all be managed from one hub. You can simplify your messaging architecture and reduce complexity with a messaging hub that consistently provides top notch performance, security and availability, running 24/7 without fail. AMH can also greatly reduce your costs, and will increase your efficiency and agility in coping with change.

Come and find out the latest updates on AMH, including the principles on 2022 roadmap and release policy, and how it can take your financial messaging operations to the next level. 

Development of Alliance Access/Entry Portfolio

What’s on the 2020/21 horizon?

Organisations are facing continuous challenges related to regulatory compliance, cyber risks and new business and market initiatives.

To address and adapt to these challenges, SWIFT keeps evolving its Alliance Access/Entry portfolio in terms of security and functionality.

During this session, our product managers will walk you through the Alliance Access/Entry roadmap. They will cover the latest features of the release 7.4 as well as the updates planned for 2020 – 2021 in release 7.5 with a focus on ISO 20022 programme and SWIFTgpi. Join us for this session so you can prepare your business in advance!
 

Introduction to Alliance Warehouse

What, why and how?

Looking for more information or new updates on Alliance Warehouse, which offers long-term message storage, fast and flexible search, and is secure and reliable?

If you are keen to hear about the latest Alliance Warehouse platform, how new technology is shaping this platform and why we are doing this to support the SWIFT community, join us for this session!

Unleashing Unbelievable Masterclass

We’ve all seen the rise of Customer Experience as a primary driver of business success. These human experiences—created by your sales, service, or internal teams — distinguish and elevate your brand.

The remarkable part is that you don’t need a big budget or a long lead time to implement new service activities that propel your customer experience to the next level.

We invite you to learn how in this Masterclass. It takes you down our Proven Path for:

  • Generating quick-to-implement service ideas
  • Putting the best ideas into action
  • And creating a plan for continuous improvement

Join us to grow a passion for service in your organization that unleashes innovation and creates new Unbelievable! customer experiences.

Challenges and opportunities in the trade finance industry

The trade finance industry is undergoing unprecedented change which presents an array of challenges and opportunities for banks and corporates. Corporates are actively seeking opportunities to unlock efficiencies in their trade finance processes and whilst new ecosystems are flourishing, the trade finance industry currently has limited appetite for settlement in crypto currencies. The industry is also looking for ways to mitigate the paper burden in documentary trade.

Standardisation, connectivity, security and reach are major drivers for Banks in the digitalisation of trade, and SWIFT plays a pivotal role in Standards. SWIFT is both a Registration Authority for, and the main contributor to, ISO20022 – the preeminent standard for financial messaging and API data exchange. Crucially, this is open, accessible and free; it can be used by anyone and implemented on any network! And, it is adaptable to both DLT and APIs, giving rise to fantastic opportunities for innovation and product development which is integral to facilitating interoperability and trade digitalisation.

This interactive session will offer you access to SWIFT’s unique industry insights and Asia Pacific trade strategy, including:

  • How the Digital Trade Envelope can offer a single, global, streamlined, standardised channel for trade finance processes
  • How SWIFT in India is working with customers to digitalise domestic bank guarantees and stamp duty; and how SWIFT in Singapore is working with the industry to tackle paper in LC presentation
  • How SWIFT’s gpi link POC creates opportunity to embed SWIFT payment capability in DLT ecosystems
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