ProFIX Company attended the global financial services networking event organised by SWIFT – Sibos 2017. This year the annual Forum took place at the Metro Toronto Convention Centre between 16 and 19 October. Sibos 2017 Toronto has been a record breaker with 8,100 delegates, 100s of industry experts and products from more than 200 exhibitors. It’s officially the largest Sibos ever seen in the Americas.
The key theme of 39-th conference was «Building for the Future», and we would highlight four areas of focus for SWIFT community on the Sibos agenda:
ü Banking – a look at the future of payments and challenges facing correspondent banking
ü Innovation – how digital technologies and fintech are delivering value to customers and helping banks address cybersecurity challenges
ü Compliance – the response of the banks to developments in AML and terrorist financing
ü Securities – how market players are responding with innovations like blockchain and artificial intelligence.
In addition to the above-mentioned topics the speakers and participants of Sibos 2017 discussed the following issues:
ü Digital transformation in payments
ü Blockchain in the cash and securities settlement space
ü Evolution or extinction for banks in the future
ü Next generation of corporate banking
ü FinTech – innovative banking
ü Revision of BIC standard
ü ISO 20022 implementation
As always the networking part of the event was very useful and we are looking forward for the next year Sibos 2018 in Sydney.
For nearly 40 years, Sibos has brought financial leaders together to network, collaborate and make sense of changes in the industry.The Sibos conference helps to build an understanding of the forces impacting the financial community. This year the world’s premier financial services event, exhibition and networking event organised by SWIFT will be held between 16 -19 October in Toronto, Canada .
ProFIX as a SWIFT Business Partner will traditionally take part in Sibos. A report on key theses and important points of the program will be published on our site.
We pay attention to SWIFT users in Ukraine to the fact that the first order of the Daily Validation Reports has been issued. This new service developed by SWIFT to counteract the negative effects of cyber attacks. We remind you that now there is a special price for Daily Validation Reports under the Agreement for the Ukrainian community.
ProFIX Company as a SWIFT Business Partner provides banks, non-banking financial institutions and corporates with a full range of SWIFT products and solutions. Besides that we also offer consulting services for our clients. To date, we already have certified specialists who are able to provide a full range of services to implement the most asked for SWIFT services, such as SWIFT Alliance Lite2 and SWIFT Sanctions Screening.
Considering the upcoming SWIFT changes in the update of software products and the start of a new release 7.2., we also update the certification of our SWIFTNet specialists to provide users with the services of upgrading SWIFT Alliance Access, SWIFT Alliance Gateway directly to their platforms.
We observe the dynamic work of the consulting services department that emphasizes the high interest of both banking institutions and other organizations in cutting edge SWIFT solutions around the world. Over the past 12 months, our specialists have provided services for 24 clients in 12 countries, including Cyprus, Belgium, Estonia, Luxembourg, Great Britain, Armenia, Georgia, Malta, Portugal, Yemen, Ukraine and others.
The list of implemented services includes projects for commercial and central banks, FinTech-companies, government agencies, insurance, investment and pharmaceutical companies. Given the positive dynamics by the end of 2017, it is planned to complete twice as many projects as in 2016.
Despite the massive hacker attack in Ukraine, ProFIX keeps its work in the standard conditions. Thanks to enhanced security measures, the computer network and the company's servers were not affected.
All services provided to customers operate without interruption; the functionality of the services is unlimited.
In particular, SWIFT Service Bureau of ProFIX Company has provided financial institutions with absolute security and continuity of operation in the SWIFT network. None of the banks connected to SWIFT through the Service Bureau hardware and software complex faced problems during the spread of the virus.
It is important to emphasize that the operation principle of the SWIFT Service Bureau is built on compliance with all requirements, according to the established SWIFT program – Shared Infrastructure Programme with which regulates the security policy and the rules of work for the Service Bureau with its customers. The audit procedure is established annually, which is confirmed by SWIFT certification of the Service Bureau, the results of which can be found at the link Service Bureau Directory
We remind that on June 27 computer networks of Ukrainian companies and banks underwent a massive cyber attack using a version of the virus "wannacry" – "cryptolocker", modified for Ukraine. The virus encrypts files on the infected computer and displays on the screen a message with a request to transfer to the specified purse the amount in bitcoins.