Sofe amsterdam swift_ref

SWIFTRef Update SWIFT Operations Forum - EMEA

Karel Spiritus

27-29 November 2013

Amsterdam

Agenda

SWIFTRef (in 3 slides)

Compliance

(SEPA, LEI,

MiFID)

What’s new

2013? Focus 2014 (incl 3 POC views)

SWIFTRef

(in 3 slides)

Board_SEP2012_NMG_Briefing_Material_V4 4

Managing 140 million pieces of data

Where is our reference data used ?

• Payments and treasury transactions – Automated (integration capabilities !) and manual processing;

– Investigations

– Standing settlement instructions

• Compliance and Regulatory Reporting – SEPA, MiFID, LEI, …

• Correspondent due diligence / KYC – Cross-referencing of identifiers

– Financial information

– Hierarchies and ownership

Data collection and distribution

6

SWIFTRef

utility

• SSI

• SEPA

• IBAN

Bank financials &

ratings, country

economics

• IBAN format

(ISO13616)

• BIC (ISO9362) Direct updates as ISO registrar

Data updates via online tool

Updates via FTP to SWIFTRef

Reuters, D&B,

Fitch

Economist, …

• National codes

• EBA, T2

Central banks &

banking associations Bespoke updates (files, web, …)

Financial Institutions

File download or

download automation

(monthly or daily

updates)

internet

internet

manual query tools

(daily updates)

SOURCES

SWIFTNet

FileAct

File delivery

(monthly or daily

updates)

internet

web services

(daily updates)

Data consumption by

banks and corporates

Local Operating

Units

LEI

Compliance

SEPA, LEI,

MiFID

Challenges

Products Quality

IBAN Only

Pre-SEPA SEPA IBAN Only

bank code + account nb.

account nb. + bank code or BIC

IBAN + BIC

IBAN + BIC

IBAN

IBAN + BIC

Challenge: Generate the IBAN

and BIC correctly!

Challenge: Validate

the IBAN, Generate the BIC

correctly!

❶ ❷ ❸

Corporates

Financial Institutions

8

IBAN PLUS / SEPA PLUS

SEPA

EU 260/2012 – Derive BIC from IBAN

Germany (EUR)

France (EUR)

…… (EUR)

UK (GBP)

Denmark (DK)

…… (…..)

Timelines

(1) Domestic EUR payments by Feb 2014

(2) Intra-EURO countries EUR payments by Feb 2016

(3) Non-EURO to EURO country EUR payments by Oct 2016

(1)

(2)

(3)

Quality – Finding the needles …

SWIFT data

team

Bank IDs, BIC

data sources

and special

cases

Central

Authorities

IBAN Plus

Financial

Institutions

IBAN data

maintenance

screens

IBAN Plus

Users

live payments feed-back

- missing Bank IDs

- incorrect BICs

- bulk IBAN lists

IBAN/BICs

from

payments

(differences)

SWIFT

Network

MT103+

1 2

4 3 Exclusion

List

CC Bank ID BIC TOT Top

AD 00010000 COBADEFFXXX 1 n/a

AD 00010000 CRDAADADXXX 1 n/a

AD 00010000 CRESCHZZ80A 1 n/a

AD 00010000 DEUTDEFFXXX 3 n/a

AD 00010000 UBSWCHZH80A 8 n/a

AD 00010000 BACAADADXXX 1697 Top

AD 00020097 CRDAADADXXX 4 Top







AD 00030005 DEUTDEFFXXX 1 n/a


• 3.8% missing bank

IDs to be added to

IBAN Plus

• 2% need to be

investigated (BIC of

different bank)

IBAN/BICs

from

payments

(15 Mio payments Sept)

(

67,000 live SEPA payments

More than 27% inconsistent BIC branch codes

5,6 % inconsistent BIC4s

Invalid BIC in payments:

Invalid IBANs in payments - examples

218,000 IBANs 1.3 % invalid IBANs

* As far as SWIFTRef could detect

live payments feed-back

IBAN Plus users

0.5 % invalid country

code, length, character

0.8 % invalid Bank ID*

Sources of SEPA Routing file

Adherence

SEPA Routing

ReachableFIs CSMs

EPC

Reachability Adherence And

Reachability

• Overlap of data sources contributes to higher quality: inconsistent data is being investigated and fixed

EBAS STET CECB DBSC SCTI ….

SEPA Routing file - Content

SEPA ROUTING file

REACHABLE BIC

INSTITUTION NAME SCHEME ADHERENCE

BIC CSM PREF

INTERMEDIARY BIC

DEUTATWWXXX DEUTSCHE BANK AKTIENGESELLSCHAFT SCT DEUTDEFFXXX EBAS P DEUTDEFFXXX

WUBUAT21XXX BAUSPARKASSE WUESTENROT AG SCT WUBUAT21XXX EBAS BKAUATWWXXX

GENODEM1SCN VOLKSBANK SUEDKIRCHEN EG SDD B2B GENODEM1SCN DBSC P GENODEDDXXX

GENODEM1SCN VOLKSBANK SUEDKIRCHEN EG SDD B2B GENODEM1SCN EBAS MARKDEFFXXX

CRBZIT2B018 CASSA DI RISPARMIO DI BOLZANO S.P.A. SCT CRBZIT2BXXX SCTI P CIPBITMMXXX

CRBZIT2B018 CASSA DI RISPARMIO DI BOLZANO S.P.A. SCT CRBZIT2BXXX EBAS CIPBITMMXXX





LEI challenge

15 legal entities

190 cities

42 clearing codes

2 BIC codes

City National Bank …

Central

Operating

Unit (COU)

Board of

Directors

Regulatory

Oversight

Committee

Governance

Operations

CFTC

EMIR

Derivatives

Effective since April 2013

Implementation Feb 2014

30.000 BIC11 & 4.300 BIC8 matched

LEI Ultimate parent:

BIC11

LEGAL TYPE BIC ISO LEI CODE LEI ULTIMATE PARENT LOU LEI LEGAL NAME LEI CITY LEI COUNTRY LEI LEGAL FORM LEI

CITTGB2LXXX L 31OGKFG0Y1795OV0AK56 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank International PLC London UNITED KINGDOM PUBLIC LIMITED COMPANY

CITIBRBRXXX L 1P0UUG7LC1S92QTNHG39 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Banco Citibank SA Sao Paulo BRAZIL SOCIEDADE ANONIMA

CITICNSXXXX L IMRQEARW2X0ZMJAJ5J58 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank (China) Co Limited Shanghai CHINA COMPANY LIMITED

CBSWCHZZXXX L 4BVL95XIH9NNZF0YN485 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank (Switzerland) AG Zurich SWITZERLAND AKTIENGESELLSCHAFT

CITIES2XXXX L HHY6OGOQAUUT1FUCOL70 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank Espana SA Alcobendas SPAIN SOCIEDAD ANONIMA

CITIIE2XXXX L N1FBEDJ5J41VKZLO2475 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank Europe PLC Dublin IRELAND PUBLIC LIMITED COMPANY

CITIKRSXXXX L 745P3MMS7E8CUVXDRJ82 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank Korea Inc Jung-gu KOREA, REPUBLIC OF OTHER

CITITRIXXXX L CWZ8NZDH5SKY12Q4US31 6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citibank A.S. Istanbul TURKEY ANONIM SIRKET

6SHGI4ZSSLCXXQSBB395 SWIFT/DTCC Citigroup Inc. Wilmington UNITED STATES INCORPORATED

Branch BIC (linked to another BIC) included:

BIC11 LEGAL TYPE BIC ISO LEI CODE MASTER BIC LEI MASTER BIC

LEI ULTIMATE PARENT NAME BIC CITY BIC LOU LEI LEGAL NAME LEI LEGAL FORM LEI

AARBDE5WXXX L EZKODONU5TYHW4PP1R34 AAREAL BANK AG WIESBADEN SWIFT/DTCC Aareal Bank AG AKTIENGESELLSCHAFT

AARBDE5W100 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG BERLIN

AARBDE5W108 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG WIESBADEN

AARBDE5W200 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG HAMBURG

AARBDE5W250 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG HANNOVER

AARBDE5W360 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG ESSEN

AARBDE5W500 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG FRANKFURT AM MAIN

AARBDE5W550 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG MAINZ

AARBDE5W600 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG STUTTGART

AARBDE5W700 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG MUENCHEN

AARBDE5W860 B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG LEIPZIG

AARBDE5WDOM B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG WIESBADEN

AARBDE5WCLE B AARBDE5WXXX EZKODONU5TYHW4PP1R34 AAREAL BANK AG WIESBADEN

BIC11

LEGAL TYPE BIC ISO LEI CODE MASTER BIC LEI MASTER BIC LEI ULTIMATE PARENT NAME BIC

COUNTRY CODE BIC BDP RECORD KEY LEGAL NAME LEI

SBUKGB21XXX L GV2G1WXZ3SZ1PPSLTS96 6SHGI4ZSSLCXXQSBB395

CITIGROUP GLOBAL MARKETS U.K. EQUITY LIMITED GB BD0000001S8M

Citigroup Global Markets U.K. Equity Limited

CITTGB2LXXX L 31OGKFG0Y1795OV0AK56 6SHGI4ZSSLCXXQSBB395 CITIBANK INTERNATIONAL PLC GB BD0000000M7I Citibank International PLC

SBILGB2LXXX L XKZZ2JZF41MRHTR1V493 6SHGI4ZSSLCXXQSBB395

CITIGROUP GLOBAL MARKETS LIMITED GB BD0000001REZ

Citigroup Global Markets Limited

CITTGB2LCMU B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PLC GB BD0000000M7F

CITTGB2LELA B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PLC GB BD0000000M7G

CITTGB2LPBG B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PLC GB BD0000000M7H

CITIGB2LIPP B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PERSONAL BANK (PLC) LONDON GB BD000000DVKJ

CITIGB2LJER B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PERSONAL BANK JERSEY GB BD000000DVKK

CITIGB2LLON B CITTGB2LXXX 31OGKFG0Y1795OV0AK56 CITIBANK INTERNATIONAL PERSONAL BANK LONDON GB BD000000DVKL

SBILGB2LIPB B SBILGB2LXXX XKZZ2JZF41MRHTR1V493 CITIGROUP GLOBAL MARKETS LIMITED GB BD0000001REX

SBILGB2LIWA B SBILGB2LXXX XKZZ2JZF41MRHTR1V493 CITIGROUP GLOBAL MARKETS LIMITED GB BD0000001REY

SBILGB2LMLV B SBILGB2LXXX XKZZ2JZF41MRHTR1V493 CITIGROUP GLOBAL MARKETS LIMITED GB BD000000EX3P

CITIGB22XXX B CITIUS33XXX E57ODZWZ7FF32TWEFA76 CITIBANK N.A (GTS) GB BD0000000M0V

CITIGB2LXXX B CITIUS33XXX E57ODZWZ7FF32TWEFA76 CITIBANK N.A. GB BD0000000M19

CITIUS33XXX L E57ODZWZ7FF32TWEFA76 CITIBANK N.A. US BD000000A2SU Citibank, National Association

6SHGI4ZSSLCXXQSBB395 Citigroup Inc.

MiFID

Challenges

− Address MiFID regulation in the UK (FSA reporting) and other

countries

SWIFTRef Product

− BIC Archive available since October 2012

− Content: BIC HISTORY

Current status and details of each BIC

full name, address, (de)activation date, connection status

BIC changes due to merger/acquisition.

All newly added and deleted BICs with dates

BIC Archive

What’s new 2013?

• Consulting services for business integration

• Service directory in Bank Directory Plus

• Bank Directory for SAP

• Newsletter

More sophistication introduced during 2013

SEPA data quality

• Close cooperation with IBAN countries

• Extraction from FIN traffic

• Work closely with customers

• Exclusion list

• Account number to IBAN conversion

Data delivery options

• TXT or XML format

• Download automation and FileAct

• Daily updates for all files

What’s

new

2013?

National Codes & SSI

• Local Language file & New national codes

• Increased focus on SSI collection in emerging

countries

Automated File Download The solution for mid-to-low banks and corporates

3. SWIFTRef

validates (eg

subscription

valid)

4. Web service returns

validated response

1. GetBankFile

Database

SRD.COM Internet / Network

2. Make API

call

5. Application

pulls BIC

directory

24

• New: Get files through Internet via API calls

SWIFTRef over FileAct The solution for Alliance users

FileAct

Store & Forward

SnF Queue

Scheduled

Monthly

Distribution

Optional

Daily

25

• Secure channel to receive SWIFTRef files directly into core banking systems

• Popular with large banks

• Increasingly being used by Corporates as well

• Support daily and monthly distributions

Web Service APIs The solution for Banks, Partners and Corporates

26

SWIFTRef

Real Time

Reduce TCO

Innovation

Cloud

Decentralise

In-Sync • Live with new

functionnal API calls

• Enhancements for Q1

2014

Focus 2014

2014 Focus

• Product delivery:

– New release Bankers World Online

– Webservices

– SWIFTRef enquiry tool

• Data quality focus:

– Increase data-quality (addresses SSI, BIC to LEI matching …)

– Perfect matching IBAN Plus

– New national codes, frequency updates

– Integrate SWIFTNet services data

– FATCA data (Foreign Account Tax Compliance Act)

– Data collection & investigation for customers

– ….

28

Reuters

Financials, credit ratings, shareholding…

Smartstream

New holidays data related to Stock Exchanges

D&B

Credit ratings, financials..

Usability review

Other Changes

Update your data

Add SSI Hierarchy

Searches within SSI or hierarchy

Improve integration Economist data

Knowledge base

Improve help function

New data

Integrate new files

BICtoLEI

Service directory

Local Language file

Proof Of Concept (POC): New Bankers World Online

Institution/BIC

details Payments data

Legal entity data

&

Compliance

Update your data Request investigation

39

POC: I-pad

40

POC: I-pad

POC: New Enquiry tool

42

Thank you

Sofe amsterdam swift_ref

Economy & Finance

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