Managing Transformation - SWIFT
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Premium Services
Forum Europe
26 November 2019 | Hotel Okura | Amsterdam, Netherlands WRAP–UP REPORT
Opening plenary Work session summaries Thank you!
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Managing Links
PRESENTATIONS
Transformation
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CLOSING VIDEO
(YouTube)
SWIFT Premium Services Forum Europe 2019
Managing Transformation
The largest ever Premium Services Forum Europe took place in Amsterdam on
26 November 2019 and brought together 166 delegates from 79 institutions and
27 different countries. The agenda covered topics ranging from the ISO 20022
migration and APIs, to Cloud Connectivity and ESMIG. The ever popular Collective
Intelligence Cafés also featured.
Peter Benz, Head of EMEA Service Management, SWIFT, welcomed The ambition of SWIFT’s Support Services evolution is to create an
Premium Services customers to the event and introduced the theme effortless experience for customers. To do so, requires not only a
for the event, “Managing transformation.” “We have chosen this theme, highly scalable support organisation but also a change to the way in
he said, because it reflects the work that operational and technology which products are designed and how customer feedback is used
teams around the globe are doing to implement changes brought about to continuously improve on what we deliver. This change programme
by major market migrations and the continuous evolution of financial will run over a two-year period, with the end goal of moving from a
services to meet changing customer needs.” regional support organisation to a global, knowledge-based support
organisation that acts as one team, available 24/7 and offering a
As customer behaviour and expectations evolve, so must the way in seamless experience across all channels.
which institutions support their customers. To explain what SWIFT
is doing in this area, was our next speaker, Dana Brants, Head of After the opening plenary, attendees moved on to a series of Collective
Services, SWIFT. “With change happening all around us,” she said, Intelligence Cafés and work sessions on major industry migrations and
“we are also evolving our support services to meet your needs in the SWIFT products and services.
future. We have been listening to you and we know that you are looking
for efficiency, accuracy, simplicity, ease of access, user friendliness,
customised advice and a range of self-service options to make your
life easier.”
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With change happening all around us, we are also
evolving our support services to meet your needs
in the future. We have been listening to you and we
know that you are looking for efficiency, accuracy,
simplicity, ease of access, user friendliness,
customised advice and a range of self-service
options to make your life easier.”
Dana Brants, Head of Services, SWIFT
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Work session summaries
SWIFT Connectivity – Operating SWIFT on APIs – Delivering the
in a public cloud Next Generation of Financial
In all industry sectors, public cloud adoption is increasing. This is
Services
also the case for the SWIFT footprint where we already have a small
The use of APIs is the most talked about initiative in the financial
number of customers running their SWIFT infrastructure in the public
services industry. Through the Open Banking Initiative, regulators
cloud. With this in mind, SWIFT has decided to include public cloud as
have seen the power of APIs and have opened up the retail banking
“Cloud Connect” – a connectivity solution which will allow customers
markets. Although the use of APIs has increased, the API environment
to operate their SWIFT footprint in a public cloud environment. SWIFT
remains highly fragmented due to inconsistencies in business and
is working with three cloud providers, Amazon, Azure and Google.
API specifications, use of different identity and security frameworks,
Insights were shared with the delegates about this new connectivity
and lack of data format standardisation. SWIFT, as a highly trusted
evolution. Group discussions were held during the session around the
independent cooperative, is in an ideal position to bring standardisation
topics of privacy, regulation and risk management. Throughout the
to the API financial world, and the presenters Alvaro Acedevo and
discussions and feedback there was significant consideration given
Richard Thomusk explained how SWIFT is working with the banking
to moving to public cloud with the aim of reducting TCO, and to allow
industry to address the API challenges in Modelling (Business process
more focus on other key activities, with public cloud providers offering
definition, Conversion to API contract and Publication of the contract),
very high guaranteed levels of security, availability and resiliency.
Publishing (SWIFT Developer Portal) & Consumption (SWIFT Content,
Community Content). Delegates heard how SWIFT can also help with
the other key challenges around identity management, secure network
connectivity, strong governance and standardisation as these are areas
where SWIFT has unrivalled experience.
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Work session summaries
ESMIG – New challenges for the ISO 20022 Migration – planning
European banking community for change
This session gave an overview of the upcoming changes to the Presented by the popular Andrew Muir with his great enthusiasm for
European payments market infrastructures, RTGS renewal and the the topic, this work session covered some of the key areas that all
ISO 20022 migration. banks and financial institutions need to be aware of when planning
the adoption of ISO 20022. He explained that ISO 20022 is a rich,
The participants had the opportunity to discover what value-added structured and extensible messaging standard that is becoming the de
services SWIFT offers for the handling of market infrastructure facto standard for exchange of payments and reporting of high value,
protocols, the management of local message validation and functional instant and other domestic payment schemes. As a consequence,
testing facilities. During the sessions, audience polls were conducted banks and the SWIFT community have decided that all financial
to gauge customer readiness for the Eurosystem changes. The results institution-to-financial institution payments will move to this standard
were interesting and showed that 40% are in the early stages of the and the adoption of ISO 20022 will begin in November 2021 with a
project, 22% are currently assessing the impact on operations, and four year period of co-existence with the legacy MT standards, ending
20% are already in the design phase. in November 2025. Delegates heard that the industry is keen for
ISO 20022 adoption to happen quickly so that they can reap the many
benefits it provides. For this to become a reality, the rate of adoption
across the financial community needs to accelerate. Delegates were
given some key insights by Koen Wittevrongel, SWIFT Coordinator,
KBC Bank, on how KBC Bank is planning its migration and the pain
points that it has had to grapple with. Delegates also heard that one
aspect critical to ISO 20022 adoption is programme governance in
each institution. This should ideally be led by the business, but with
other key stakeholders such as IT and operations being involved.
Key to the success of the migration is completing a thorough impact
assessment across all areas affected.
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Thank you! The new one day format proved successful and feedback received will be used in planning the next Premium Services Forum Europe which will be held in Vienna, Austria on 1 December 2020. Our thanks go to each and every one of you for your active participation in this year’s Premium Services Forum. We hope that you all had an engaging, thought-provoking, productive, informative and highly collaborative Premium Services Forum. As always, should you have any questions about or suggestions for next year’s event, please do not hesitate to contact us. We look forward to working with you in Vienna in 2020! 6
Save the date!
Premium Services 1 December 2020
Forum Vienna, Austria
SAVE THE DATE
In the meantime, the presentations used in our work sessions are now
available via a Knowledge Base tip 5023659
www2.swift.com/kb/#/tip/5023659
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