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Il valore strategico delle infrastrutture nel rapporto Banca-Impresa nel nuovo scenario SEPA Isabelle Olivier, Head of South East Europe, SWIFT Italy SEPA event, AITI & Assolombarda, 6 Febbraio 2009 Agenda • About SWIFT • SWIFT for corporates – Corporate Drivers – Benefits – Connectivity options • SEPA and the current crisis as additional incentives About SWIFT A co-operative organization serving the financial industry A provider of highly secure financial messaging services The financial standardisation body SWIFT in the Corporates to Banks Standards MT standards for Payments, Statements, Treasury, Trade Finance and Securities flows What SWIFT for Corporates – MT Implementation Guide : • Complements SWIFT UserHandBooks • Contains additional rules and guidelines Objective Address issues flagged by corporates & banks in C2B space – through agreed rules and guidelines Foster standardized usage of MTs in C2B space Where • swift.com – download via SCORE page • swift.com – User HandBooks on-line MX / IS0 20022 standards for • ISO 20022 Payment Initiation • ISO 20022 B2C Account Reporting • ISO 20022 Bank Transaction Code list • ISO 20022 Electronic Bank Account Management • ISO 20022 Mandates for Direct Debits • Exceptions and Investigations • Investment Funds • Etc …. Agenda • About SWIFT • SWIFT for corporates – – – Corporate Drivers Benefits Connectivity options • SEPA and the current crisis as additional incentives SWIFT: a single, standardised gateway Multiple bank channels Single, standardised gateway Corporate Corporate VAN Accounts payable Accounts receivable Treasury Accounts payable host to host X Accounts receivable Leased line e-banking Y Treasury Internet Other Other Standardised gateway e-banking Z – High cost – No global visibility on cash – DifficuIt to centralise – – – – Global visibility on cash Lower cost Increased control and security Reduced risk 6 Corporate Treasury drivers COMPLIANCE Sub heading if required • Regulators (SOX, Basels2) • Internal controls COSTS • FTE • Infrastructure • Better liquidity Management Automation Standardisation Centralisation TECHNOLOGY • Web (IP) • KPI RISK • Operational • Security Corporates on SWIFT Where do we stand today? Geographical split # registered corporate entities In Italy: 181 108 55 2004 2005 2006 Telecom Italia FIAT 402 IFAD Fenice Candy Custom House 282 Polti Enel Geox KME Mapei Mediaset Almo Nature Autostrade 2007 Q4 2008 Alitalia Costa Crociere Asia Pacific 11% Americas 20% 69% EMEA A corporate’s use of SWIFT • Treasury Management – Monitor accounts and obtain global visibility on cash by integrating statements into treasury systems – Manage liquidity and pool cash company-wide, by sending payment orders – Do financial risk management, by exchanging FX confirmations and matching them – Invest surplus cash • Cash Management – Run payment / direct debit factory to pay suppliers, debit customers, pay salaries, … and receive account statements and advices – ACH payments, disbursement files, check files Treasury management Account central treasury 1 Accounts treasury A A1 A2 MT 910/942 Local treasury A Central treasury Corporate intranet Local treasury B MT 101 MT 900/942 MT 101 Funding a local account • Central liquidity management • No need to consult different websites Local treasury C Moving money to a central account • End-of and intra-day statements can be integrated in TMS, to give visibility on global level and each entity MT 910/942 MT 900/942 Accounts treasury C C1 Accounts central treasury 1 2 C2 Cash management Payment file Local treasury A Central payment and direct debit factory Domestic format MT 101 Payment file Accounts treasury A A1 A2 Accounts treasury B B1 Local treasury B ISO 20022 Payment file • Central control of all payments / direct debits • Integration into ERP • SWIFT file transfer supports any format Local treasury C B2 Accounts treasury C C1 C2 B3 Risk management MT 103 Account central treasury USD correspondent of Counterparty Sell USD, Against EUR MT 900/942/950 MT 101 MT 910/942/950 Central treasury MT 900/942/940 MT 300 Counterparty Match confirmations MT 300 SWIFTNet Accord MT 910/942/940 MT 103 MT 210 MT 900/942/950 Account central treasury Enabling new bank services Q4 2008 2009/2010 • Trade finance • Personal digital identity • Exception and investigation • Bank mandates • Secure mail • ISO 20022 reporting Key benefits Funds visibility • Obtain visibility on cash across multiple banks, to improve working capital management Cost savings • Rationalise multiple proprietary connections, all different • Increase straight-through-processing and staff productivity Control, Security, Reliability • Better control on payment initiation • Increase overall security and reliability Compliance • Reduce administrative work to document bank communication processes (SOX) Case studies and customer testimonials (5 year business case analysis) Arcelor Mittal 600% ROI DuPont 200% ROI GE 410% ROI BELCORP Iberia 280% ROI Microsoft 326% ROI EADS Novartis 120% ROI Petronas 410% ROI T-Mobile 180% ROI Swiss Re 4 x savings to investment Yves Rocher Different connectivity options for all needs Private infrastructure SWIFTNet connectivity infrastructure owned and operated by the customer Users SWIFTNet VPN Apps As from 22,000 € one time + 9800 € / year Indirect connectivity SWIFTNet connectivity infrastructure owned and operated by third party Users Shared infra VPN SWIFTNet Apps provider As from 1,275 € one time + 2,400 € / year + service bureau fees Alliance Lite Simplified, Internet based, secure connectivity, more business oriented Users Internet Apps Alliance Lite: from 200 to 850 € per month all inclusive SWIFTNet Agenda • About SWIFT • SWIFT for corporates –– –– –– Corporate Corporate Drivers Drivers Benefits Benefits Connectivity Connectivity options options • SEPA and the current crisis as additional incentives SEPA and the financial crisis as additional incentives Treasurers want Risk diversification • • • Multi-bank Real Time Cash Reporting Efficient instruments to move liquidity safely SEPA accelerates Treasury centralisation • • • Simplification of payment instruments Better liquidity management Optimisation of processes SWIFT can provide key building blocks Single channel to all banks ISO 20022 standards and rulebook BICPlusIBAN directory as reference data SWIFTReady applications 18 The role of SWIFT in the interactions between Corporates and Banks The current difficult economical context, SEPA, On-going Corporate centralisation projects force Corporates to: innovate and reduce costs SWIFT connectivity for Corporates is the innovative solution to - streamline your internal financial process - manage efficiently your liquidity & any financial flow - easily access the banks that offers the best services - be compliant with regulations More info: SWIFT for corporates community http://www.swiftcommunity.net/corporates ~ 900 members Case Studies External Bloggers Contact details Isabelle Olivier Head of South East Europe SWIFT Corso G.Matteotti, 10 20121 Milano Italy T D F M E W +39 02 7742 5000 +39 02 7742 5010 +39 02 7742 5090 +39 333 209 5262 [email protected] swift.com Barbara Sacchi Senior Account Director South Europe, Middle East & Africa SWIFT Corso G.Matteotti, 10 20121 Milano Italy T D F M E W +39 02 7742 5000 +39 02 7742 5015 +39 02 7742 5090 +39 335 144 74 41 [email protected] swift.com