EBAM

EBAM Central Utility

Maia Santens

May 24th, 2012

BNL Forum

Electronic Bank Account Management (EBAM)

SWIFT Solution: scope & status

Account Opening

Account Maintenance

Mandate Maintenance

Account Closing

Account Reporting

Existing Customers (no KYC)

Electronic Bank Account Management (EBAM)

Objectives

Fax

Paper

Today Tomorrow

• Faster/cheaper • Standardised

• Dematerialised • Automated/STP

XML messages

Supporting documents

Personal Digital Signature

• Slow

• Expensive

• Low integration

• Low satisfaction

4

Please, provide us with:

- ABC’s certificate of

registration

- a passport scan for each

of the 3 mandate holders

- … Account Opening Request

Account Opening

Amendment Request

Account Report

Account Request Acknowledgement

Account Opening

Additional Information Request

3

Company ABC Bank XYZ, UK

I would like to open an

account with

Bank XYZ, UK.

What kind of information

should I provide?

The “legal representative”

of ABC has not been

provided

Account Request

Acknowledgement

We confirm a new account

has been opened for you.

Please find the details

enclosed

EBAM Standards

Account Opening Message Flow

5

Corporates Banks

Standardised messaging solution in ISO 20022 XML

Harmonised way to attach documents

Point to point exchange

Multitude of vendor-, bank- and corporate applications

Different requirements across jurisdictions

Policies across banks also vary

MULTITUDE OF DIFFERENT IMPLEMENTATIONS

EBAM : current solution for multi-banking

6

Corporates

• Visibility and control on internal account

structures and mandate holders, accross banks

• Audit trail

• Full transparency of banks’ documentation

requirements

Banks

• Better customer service

• Optimisation of EBAM processes:

- cost/effort reduction

(e.g. repetitive testing, outsourced development

of EBAM portal and simplified publication of

requirements)

- end-to-end workflow orchestration

A multi-bank portal for EBAM offers:

SWIFTNet

Internet

Online

application

EBAM

application

Portal user

Messaging and

Validation Module

Bank and country

Requirements Database EBAM

Portal

My (EBAM)

Standards

Administration Module

Market survey

confirms

appetite EBAM Central Utility - Overview

7

Value of the central validation confirmed

Value of variants validation confirmed

4 banks: JPMC, RBS, Citibank, BNYM

9 corporates: GE, Fujitsu, SwissRe, …

FileAct and GUI users

Pilot feedback

GUI prevents having to build an own application

ECU Pilot project

8

EBAM XML messages version 2

Development during 2012

Release of V2 before launch of


Change requests to be evaluated

with EBAM experts

What’s next? (1)

9


Confirm co-funding agreements

September Board approval for development

of EBAM Central Utility

Q4 2013: Launch

What’s next? (2)

Corporate feedback on a multi-bank portal

GTNews survey

10

• Response rate: 339 replies on 15,954 (2%)

• 80% working in Treasury Operations

• Location: Western Europe and North America

26%

30% 14%

29%

Corporate Revenue % of respondents

> 10 BUSD

1 BUSD < < 10 BUSD

500 MUSD < < 1BUSD

< 500 MUSD

56% of respondents are

Very Large corporates

PROFILE

75% of respondents are not EBAM capable;

63% of those will implement EBAM in the future

11

CURRENT EBAM CAPABILITIES

0

50

100

150

200

250

300

350

# of respondents per size No EBAM system in place Will implement EBAM in future

Current EBAM capabilities and plans for implementation

Under $100 Million $100-499.9 Million $500-999.9 Million $1-9.9 Billion Above $10 Billion

75% of

respondents

63% of

« No EBAM yet »

respondents

47% is interested in multi-bank portal;

33% is undecided;

interest more explicit in high-end segments

12

20%

47% 33%

No Yes (blank)

Are you interested in an EBAM multi-bank portal from a 3rd party?

INTEREST IN ECU

0%

10%

20%

30%

40%

50%

60%

70%

Under $100Million

$100-499.9Million

$500-999.9Million

$1-9.9 Billion Above $10Billion

No

Yes

(blank)

339

253 no system in place

123 interested to adopt

75 system in place

38 interested to move

11

67 not interested

111 undecided

0

50

100

150

200

250

300

350

# of respondents EBAM system in place? Interest in multi-bank portal

Significant willingness to move from current EBAM system to ECU

Significant interest in multi-bank portal as a first EBAM system

13

Adoption of ECU

as 1st EBAM

system = 49%

47% Willingness to

move = 51%

INTEREST IN ECU

48% is willing to pay for a multi-bank portal;

39% is undecided;

14

14%

48% 39%

No Yes (blank)

If an eBAM multi-bank portal, developed by a 3rd party, provided your

organisation with the most important benefits you have identified

above, would your organisation be willing to invest?

WILLINGNESS TO PAY

0

10

20

30

40

50

60

Under$100

Million

$100-499.9Million

$500-999.9Million

$1-9.9Billion

Above $10Billion

# o

f re

sp

on

de

nts

No

Yes

(blank)

Appendix

15

EBAM-Central Utility – an impression

Logon with your 3SKey token

16


Open a new account…

17


Select bank and country…

18


…enter account details…

19


…enter account owner details…

20


Save for later completion

21


…continue from the overview list

22


Add an attachment

23


Select documents from local drive

24


Submit an "open account" request

25


Sign the instruction with 3SKey

26



27


Follow status in the overview screen

28


Follow status in the overview screen

29

EBAM-Central Utility

Access the requirements database

30


Select bank, country, currency, …

31


Overview of documents to return…

32


…different per country

33


Request a report

34



35


Enter account details

36


Submit completed instruction

37



38



39


Maintain account details

40



41


Enter account details

42

43


Enter organisation details


Prepare draft instructions

44


45

46

John =

corp12345678

John =

corp

12345678

John =

corp12345678

corp12345678

Check

certificate

status

Check

certificate

status

3SKey

Registration of a 3SKey token with

one or multiple banks

Signing of an EBAM message and

its attachment(s)

Access control to the EBAM Central

Utility (ECU)

EBAM and Personal Digital Identity

(3SKey)

Economy & Finance

EBAM