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.
SWIFT is inviting all the financial institutions in Ukraine to join the community initiative specially made for your country to help you respond to fraud and cyber-threats.
The recent rise in cyber threats requires that all financial institutions re-evaluate the security and protection of their payment environments. Cyber-criminals have turned their focus to the global financial system. They are sophisticated, use advanced tools and technologies and invest heavily in their fraudulent activities.
In May 2016, SWIFT launched a new Customer Security Programme to strengthen the security of the global financial community against cyber threats, consolidating and building upon existing SWIFT and industry efforts. As part of this programme, SWIFT is encouraging customers to protect their environments through improved security controls and tools. SWIFT is also looking at how best the community can use transaction pattern detection tools to mitigate the risks associated with wire payment fraud.
Daily Validation Reports are a new addition to the SWIFT financial crime compliance portfolio and have been developed as part of the Customer Security Programme. They are designed to supplement customers’ existing fraud controls and are specifically tailored to meet the needs of smaller institutions.
The deadline is end of August to officially join the initiative.
The week of 18th of April, SWIFT will be providing the demos of the solution to show how the tool can help you. Please contact Iryna Lytovchenko, Oksana Vorontsova, phone +380 44 538 10 20 to receive more information.
We are looking forward to seeing you joining this community initiative specially made for Ukraine.
SWIFT Manager Financial Crime Compliance Unit
Europe, Middle-East and Africa