Download pdf - Crypto Currency

SWIFT Business Forum New York - 3 Mar 2015 1

Crypto-currency Plenary

Wim

Raymaekers

SWIFT

Marc

Hochstein

Houman

Shadab

American Banker

@MarcHochstein

New York

Law School

@HoumanShadab

Could new entrants and crypto-protocols threaten the

correspondent banking model?

#BFNewYork

Cheryl

Gurz

BNY Mellon


Agenda

Introduction

Panel discussion

Q&A

A

G

E

N

D

A


Where do we come from, where do we go to?


1970s

Automation

SWIFT

1990s

Efficiency

GTB

2010s

Simplicity

Consumer

1.0

Correspondent

banking

2.0

Transaction

banking

3.0

Experience

banking

4.0

?

2020s

Source: Correspondent banking 3.0 white paper, available from swift.com

5 mega trends impacting correspondent banking


Real time

Open Access

Compliance

Off the wire

Growth

New entrants pitching for bank business


“Over 50% of Delegates Surveyed

at SIBOS Say Correspondent

Banking is Unsuitable for Payment

Values of Less Than $1,000” “26% said current correspondent banking model is

unsuitable for making payments of less than $50,000”

Provides “global switch”

for cross border transfers

Is correspondent banking under threat?


Local bank Local bank

PSP PSP

ACH ACH

GTB GTB

End customer

(retail, SME, corp)

End customer

(retail, SME, corp)

Correspondent Banking

Transfer

Agent

Transfer

Agent

Open access to 3rd parties via APIs


Source: Mark Buitenhek at Think Forward. Act now The Future of Payments congress, November 2014



Panel discussion

Regulation

Impact

U.S. landscape

Opportunities


Crypto-currency Plenary

Wim

Raymaekers

SWIFT

Marc

Hochstein

Houman

Shadab

American Banker

@MarcHochstein

New York

Law School

@HoumanShadab

Could new entrants and crypto-protocols threaten the

correspondent banking model?

#BFNewYork

Cheryl

Gurz

BNY Mellon

Q&A

?
