SWIFT has announced that it is extending its gpi Tracker to cover all payment instructions sent across the network. This will enable gpi banks to track all their SWIFT payment instructions at all times, and give them full visibility over all their payment activity.
The Tracker, available since May 2017, enables banks that have signed up to SWIFT gpi to track their gpi payments in real-time. From 18 November this year, a unique end-to-end transaction reference will be included in all payment instructions carried between all 11,000 customers on SWIFT across more than 200 countries and territories. This will give gpi customers full end-to-end tracking of all their gpi payment messages quickly and efficiently, bringing even greater transparency and cost reduction.
The Committee on Banking Supervision and Regulation, Payment System Monitoring (Oversight) of the National Bank of Ukraine has determined criteria for classification of banks into groups for the year 2018.
Decision No. 444 of 29 December 2017 defined the following groups:
- State-owned banks stand for banks where the state directly or indirectly owns more than 75% of the bank’s authorized capital.
- Banks owned by foreign bank groups include banks where majority stakes are held by foreign banks or foreign financial and banking groups.
- In privately owned banks, qualifying holdings belong to one or more private investors that directly or indirectly own at least 50% of the bank’s authorized capital.
The NBU will apply this classification only for releasing operating results of the Ukrainian banking system.
More information about classification of banks into groups on NBU website
ProFIX Company has successfully completed the recent audit according to the Standard Operating Practice level requirements under the current SWIFT Shared Infrastructure Program (SIP) – release 2016.
In accordance with Shared Infrastructure Program (SIP) requirements SWIFT Service Bureau must meet at all times the eligibility criteria, roles and responsibilities, as well as legal, financial and operational requirements. Also each Service Bureau must have at least 2 Service Bureau On-Boarding specialists, and at least 2 Service Bureau Connectivity specialists. ProFIX Company has confirmed full compliance with these requirements.
«Since 2018, the SWIFT Service Bureau will pass an annually audit. At present, we have already begun preparations for SIPv3, the requirements of which will be focused on cyber security», says Alexey Shcherbatiuk, technical director of Service Bureau at ProFIX Company.
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.