global vendor webinar june 2021

SWIFT platform evolution

Global Vendor Webinar June 2021

1RESTRICTED - Global Vendor webinar June 2021

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Admin notice

RESTRICTED - Global Vendor webinar June 2021

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Agenda

Highlights

SWIFT platform evolution key concepts

In flow translation

Resources : focus on Connectivity Guidance

Working together as a community

Scope, objectives and benefits

Using APIs as enablers

Getting ready for November 2022


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Highlights

− SWIFT platform evolution key concepts

− In flow translation


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SWIFT platform evolution

Key concepts


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ISO 20022 will provide consistent, rich and structured data across the

payments chain

Client

Debtor

Agent

& MI

participant

MI CreditorIntermediary &

MI participant

Domestic payments(HVPS+)

Intermediary Intermediary &

MI participant

MI Creditor

Agent

& MI

participant

Correspondent banking(CBPR+)

ISO ISO ISO

Domestic payments(HVPS+)

ISO

DebtorUltimate

Debtor

Ultimate

Creditor

Client

ISO

ISO 2022 as standard of choice

High value payment systems for reserve currencies

Next generation Instant Payment systems

By 2025 80% of all currency settlement is estimated to use

ISO 20022

Improve payment automation and compliance, and enable

new client services with ISO 20022 features

Consistent data model across the entire payments chain

10x more space than SWIFT MT


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Release 1 scope overview

Intermediary

Agent

Debtor

Transaction integrity and tracking

Pre-validationCreditor agent

processing

Embedded

serv ices

Intermediary

processing

Value

added

serv ices+ + +

Format

Rev iew +

Corporate to bank flow s

not in scope of release 1

CreditorCreditor

Agent

Market

infrastructure

Traff ic related to

Market Infrastructures

not in scope of release 1


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Traffic that will be handled by the transaction manager


• Other FIN payments and other FINplus CBPR+ traffic

• Other Business areas (eg securities, trade,...)

• Market infrastructure (MT and MX) related traffic

• Corporate-bank flows

Transaction

manager

Existing

processing

Traffic not in scope of release 1

SWIFT will automatically route traffic (in Release 1 scope) to the transaction manager

ReceiverSender

Receivers must still be able to use existingchannels and formats for this remaining traffic

MT format ISO 20022 format API

MT 103

incl. MT 103 STP, RETN,

REJT

MT 202/205

incl. MT 202/205, RETN,

REJT

MT 202/205COV

incl. MT 202/205COV, RETN,

REJT

Based on CBPR+ usage

guidelines pacs.008

pacs.009, incl. COV

pacs.004

pacs.002

Equivalent business f low s

MT 192/292 (to the Tracker)

MT 196/296 (to the Tracker)

(response to n92)

camt.056 (to the Tracker)

camt.029 (to the Tracker)

Apart from the messages listed in this table, SWIFT w ill also provide the capability to receive a

number of other CBPR+ messages in the format of an "ISO 20022 message w ith embedded MT

format".

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In flow translation

Concept and testing


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ISO migration – timeline

Nov 2020,

FINplus (Pilot)

June 2021,

In-flow Translation (Pilot)

Nov ember 2021,

In-flow translation (Pilot)

March 2022,

Transaction manager

(Pilot) - TBD

Nov 2022,

In-flow translation

(Liv e)

• FINplus service

available

• CBPR+ Limited ISO

collection

• Pilot 6-9 Customers

• Test Sparring Partner

available

• Pilot Transaction

Management

CBPR+

• Pilot all Customers

• CBPR+ Final ISO

collection

Nov 2022,

Transaction manager

(Live)

More information on ISO programme: https://www.swift.com/standards/iso-20022-programme

Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022

Q4 2022

• HKEX (Pilot)

• Philipass(Pilot)

• PayCan (Pilot)

• HKEX (Live)

• Paycan (Pilot)

• Philipass(Live)

• BoE (Pilot)

• MAS (Pilot)

• EURO1 (Pilot)

• T2 ESMIG (Pilot)

• EURO1 (Pilot)

• MAS (Live)

• PayCan (Pilot)

• BoE(Live) • T2 ESMIG live

• EURO1 (Live)

• PayCan (Live)

MI


https://www.swift.com/standards/iso-20022-programme

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The concept of in-flow translation

WHAT

• SWIFT creates an MT representation derived from the ISO 20022,

containing equivalent data fields.

• Always from ISO 20022 to MT, based on CBPR+ translation rules.

• Cases where data has been truncated are explicitly indicated.

• Key interoperability measure to support migration of cross-border

payments and cash reporting to ISO 20022, allowing receiver to

still rely fully or partially on legacy format if not ready yet.

• Can be complemented by local translations solutions

HOW

• Translation happens during the processing of the message at

SWIFT, before delivery to the receiver.

• Delivered as a "multi-format" MX message: same message

containing both the original ISO 20022 MX and the translated MT.

• Available for eligible messages on the FINplus service.

• Additional signature to ensure integrity of the translation.

Validation

FINplus channel

MT legacyISO 20022

Translation

pacs.008(example)

pacs.008 / MT 103(example)

...


The multi-format MX message

• ISO 20022 message delivered through SWIFTNet

InterAct store-and-forward using the FINplus service.

• Translated MT carried within the RequestPayload

element.

• Three XML comments added by SWIFT

1. Translated MT

2. Translation result

3. Translation info and, possibly, further information

like the list of fields that were truncated

• Truncated fields contain as last character a "+“ (plus).

• Any character not allowed in MT replaced by a ".“ (dot).

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When can I (re-)start testing?

• CBPR+ 2.0 Usage Guidelines published in March 2021, baseline for implementation in November 2022

• FINplus ITB and Pilot Future will be upgraded accordingly on July 25, 2021.

• As from November 2021, in-flow translation will be enabled when ordering FINplus subscription. Participants already subscribed will automatically be enabled too.

• By default, in-flow translation will be active and participants will receive multi-format MX messages.

July 2021

CBPR+ 2.0available

on FINplus ITBfor testing

Nov 2021

In-flow translationavailable

on FINplus ITBfor testing

Q1 2021

[Feb] Specs forin-flow translation

[Mar] CBPR+ 2.0collection

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SWIFT platform evolution:

Resources


Connectivity Guidance paper

Version 1.1

available now

New detailed annex added on messages in scope of Release 1 as well as an overview of centrally available translation solutions for CBPR+

messages.

More information on the Interfaces Release Timeline

Update on availability of the API specifications


Download the SWIFT platform evolution: Connectivity

guide to find out more about our platform approach and

what it means for you.

You may also stream the on-demand Connectivity

Guide walkthrough or download it here.

https://www.swift.com/about-us/our-future/swift-platform-evolution/enhanced-swift-platform-payments

https://www.swift.com/sites/default/files/videos/transaction-management-global-vendor-webinar-20210408-1102-1.mp4

https://www.swift.com/swift-resource/250511/download

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Connectivity Guidance paper


Download the full paper from swift.comfor additional information:

Summary of connectivity options

Annex 1: API connectivity

Annex 2: Multi-format message characteristics

See next slides

Annex 3: Overview of messages

New

Receiving a multi-format MX messageThe "ISO 20022 message with embedded MT format" is available to the receiver both for messages delivered from the transaction manager, as well as other CBPR+ messages for which in-flow translation is available.

Updated

Identification of sender and receiverThe sender and receiver fields are not changed - they remain as specified by the sender.

https://www2.swift.com/myprofile/res/documents/platform/swift-infopaper-platform-connectivity-guidance.pdf

Connectivity Guidance paper : Messages overview

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Messages in scope of CBPR+

November 2022

(CBPR+ Release 2.0)

Target for scope of CBPR+

November 2023

Messages processed

by transaction manager Release 1

camt.052

camt.053camt.054

...

Messages for which SWIFT provides

in-flow translation (only)

Out of scope of transaction manager

No in-flow translation

ISO 20022 equivalents for MTs such as:

(Translation rules to be defined)

List of messages

without translation rules

Table 1

Table 2

Table 3

Table 5

Table 4

Examples

pacs.008

pacs.009...

pain.001/2 relaypacs.010camt.060

110/111/112190/191290/291/292...

No ISO 20022 equivalent or translation198/199950...


How to get started : SWIFT Platform page on the Knowledge Centre

One stop shop for all

technical specifications

Central information

repository :

- Connectivity guidance

- Summer 2021 :

Getting started guide,

SWIFTSmart

modules, FAQ,..


https://www2.swift.com/knowledgecentre/subjects/swift_platform/index.html

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Working together as a community


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Scope, objectives and benefits


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Working together together as a community


Pla

tfo

rm c

apa

bili

tie

sPre-validation

Sanctions screening

Fraud detection

Data analytics

Transaction tracking

Exception case management

Et al.

Reduce total costs

Improve end-to-end efficiency

Mutualising capabilities

Bring new business value

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Working together together as a community : the vendor readiness programme


Information

Plans & timelines Readiness journeys Support

Specifications

Rule books Usage guidelines Business rules & technical specs

Certification

Testing tools Readiness assurance Compatibility labels

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Transaction management vendor readiness


Connectivity Business applications

Interface Service bureaux

Payment & messaging Sanctions screening Reconciliation Core banking Cash management Exceptions & investigations Etc…

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Using APIs as enablers


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API enabled business applications

What do you need to do to be ‘transaction management ready’?


Channel accreditation : SDK and/or Microgateway

Register on SWIFT Developer Portal (https://developer.swift.com)1

Navigate the API Catalogue 2

https://developer.swift.com/

https://developer.swift.com/api


Functional Accreditation: Specific API Services (gpi, transaction management,… ) + Security and Operational

Visit the SWIFT Developer Portal

Navigate the API Catalogue

API enabled business applications

What do you need to do to be ‘transaction management ready’?

1

2


gpi f or Corporates

– Pay & Trace

– v 3 & v 4

KYC Registry

– v 1 & v 2

gpi f or Corporates

– Inbound Tracking

– v 3 & v 4

Pay ment

pre-v alidation – v 1

SWIFT API Product Roadmap

Next up Live In Development (0-9 months) In review

gpi Core Serv ices

– v 3 & v 4

gpi Stop and Recall

– v 3 & v 4

SWIFTRef API

– v 1 & v 2

gpi Case Resolution

– v 3 & v 4

Banking Analy tics

Transaction Manager

– Credit Transf er

gpi Low-Value

Cross-Border Pay ments

Observ er Analy tics

– Speed

gpi Core Serv ices

API – v 5

Fees Prediction

Low-Value Pay ments

Eligibility API

gpi f or Corporates

– v 5


– Routing

Traf f ic Analy tics

SWIFTRef – v 3


– Deducts & Totals

Banking Analy tics

Premium

Pay ment

pre-v alidation

– v 2

Low Value Pay ment

Central Reporting

API

E2E Monitoring

Settlement Status

& Conf irmations

Consolidated View of

Holdings & Reporting

Compliance Analy tics FCC Get AlertsFCC Transaction

ScreeningFCC – PCS Notif ications

Compliance Analy tics

– v 2

FCC Name Screening

FCC Fraud Detection

Risk Scoring

KYC Registry

– v 3

Pa

ym

en

tsC

om

plia

nc

eD

ata

Se

cu

ritie

s

Se

rvic

es

visit the SWIFT API Programme page on swift.com for more for detailsRESTRICTED - Global Vendor webinar June 2021 27

https://www.swift.com/our-solutions/interfaces-and-integration/swift-api-programme

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Getting ready for November 2022


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Connectivity solution providers

What do you need to do to be ready for go-live in November 2022?


*Specifications are only available to providers who have bought a SNL Developer license or a SAG Developer license to develop a messaging

interface

Certified SWIFT interfaces have received the specifications* and instructions on how

to perform the required assurance testing

Work with your customers / end users to ensure their application(s) can receive and

process the output from the interface

1

2

If you provide an interface : perform the necessary development and testing to comply with the specifications

Further details can be found on the Compatible Interface Programme page

https://www.swift.com/about-us/partner-programme/swift-compatible-interface-programme/swift-compatible-interface-programme


Connectivity solution providers


If you provide a service bureau and are using an interface solution: check your interface supports multi-format message handling

Ensure you comply the latest terms and conditions of the Shared Infrastructure Programme1If using a SWIFT connectivity solution ensure you have updated to SWIFT Alliance Access v7.6+ /

Alliance Messaging Hub v4.2+2

If using a third-party connectivity solution please contact the provider to understand their release plan3Work with your customers / end users to ensure they can receive and process the output from your

service bureau4

Further details can be found on the Shared Infrastructure Programmepage

https://www.swift.com/about-us/partner-programme/shared-infrastructure-programme

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Non-API enabled business applications



Work with your connectivity solution to check it supports multi-format message handling and your application(s) can receive and process the output

If using a SWIFT connectivity solution ensure you have updated to SWIFT Alliance Access v7.6+ /

Alliance Messaging Hub v4.2+1

If using a third-party connectivity solution please contact the provider to understand their release plan2Work with your connectivity solution, customers, and other application providers to perform end-to-end

message and data flow testing3

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Transaction Management Vendor Readiness Roadmap


2021 2022

Pre-

Jun

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Global

comms & key

deliverables

Global vendor

webinar

Newsletter

Deliverables

Connectivity

readiness

Interface

Service

bureaux

Business

application readiness

API enabled

apps

Non-API

enabled apps

1Deliverable notes Transaction Management

Connectivity Guide v1.1

CBPR+ v2 usage guidelines and user handbook

Global Vendor Webinar recordings

Adoption guide

Adoption briefings

Training

See

Notes1

Test interfaces and aw ard labels Tech &

test specs2

Shared Infrastructure Programme

terms & conditions updated3 Readiness assurance

Interfaces ready

Service bureaux ready

Transaction

management go-live

See

Notes4

2Specs only available to providers who

have bought a SNL Developer l icense

or a SAG Developer l icense

Further details can be found on the

Compatible Interface Programme page

Sparring partner

available

Deliver against API roadmap

(see next slide)

Work w ith your connectivity solution to check it supports multi-format message handling and your application(s) can receive and process the output

4Tools for API Enabled Apps

Developer portal

Software Development Kit

Microgateway

API catalogue

Playground & sandbox

3Further details can be found on the

Shared Infrastructure Programme page

https://www.swift.com/news-events/news/swift-platform-evolution-connectivity-guidance-version-11-now-available

https://www2.swift.com/mystandards/#/c/cbpr/landing

https://www.swift.com/swift-standards/iso-20022/iso-20022-programme/iso-20022-programme-document-centre

https://www2.swift.com/knowledgecentre/publications/iso_20022_prog_cust_adopt_guid/8.0

https://swiftsmart.swift.com/Saba/Web_spf/EU1PRD0018/app/shared;spf-url=common%2Flearningeventdetail%2Fcurra000000000003580

https://swiftsmart.swift.com/Saba/Web_spf/EU1PRD0018/app/shared;spf-url=pages%2Fpagelistview%2Fpgcnt000000000156357

https://www.swift.com/about-us/partner-programme/swift-compatible-interface-programme/swift-compatible-interface-programme

https://developer.swift.com/

https://developer.swift.com/swift-sdk

https://developer.swift.com/swift-microgateway


https://developer.swift.com/reference

https://www.swift.com/about-us/partner-programme/shared-infrastructure-programme

www.swift.com


[email protected]

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Current channels/formats continue to be used

SWIFT platform evolution - Connectivity Guidance v1.1 - May 2021

FIN/MT

InterAct/ISO 20022

When Release 1 of the transaction manager goes live in November 2022, financial institutions may still require a capability to receive MT messages over FIN.

This is because:

• Only a subset of cross-border payment messages are in scope for Release 1. Other message types of FIN category 1, 2 and 9 messages, are not in scope for the transaction manager Release 1.

• Other business areas (securities, trade, etc.) will continue to be exchanged as today.

• Payment market infrastructure related legs of a transaction will not be processed yet through the transaction manager for Release 1.

• The transaction manager will not process all eligible MT-originated traffic immediately as of the live date. It will gradually start processing more traffic during a traffic build-up period.

Institutions exchanging CBPR+ messages not in scope of Release 1 will continue to receive those messages over the FINplus service.

global vendor webinar june 2021

Documents