"It's not the strongest species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.", Charles Darwin said. The change was also the dominant topic at the 93rd User Meeting, which took place on 4th September 2018 in Dreieich. What has changed in SWIFT gpi, the Digitaler Finanzbericht (Digital Financial Report), SWIFT, TARGET2, RT1 and PSD2 API Sandbox?
Uwe Klatt (Paymentgroup International) opened the event with an overview of the market and the activities in the Paymentgroup International. Instant Payments and SWIFT’s Global Payment Innovation (gpi) are currently the dominant topics in payment transactions. Therefore, Dr. Mario Reichel (Paymentgroup International) and Sebastian Lohmann (EFiS) explained in the following lecture the new features of gpi. From November 2018 amongst others the unique identification of a SWIFT payment - via the so-called UERT – is obligatory. This allows banks to track SWIFT payments if they have registered as a gpi bank. The corporate can then retrieve the payment via the gpiTrack & Trace service from EFiS, which is provided by the bank.
Every day we are confronted with new buzz words. Armin Gerhardt (EFiS) presented current examples and explained the connections that hide behind the terms. A glossary of the most important abbreviations is in preparation.
Ulrike Pfeiffer-Jacobs (Deutsche Bundesbank) reported on the launch of the Digitalen Finanzbericht (Digital Financial Report) (DiFin) in April 2018. With DiFin, corporates can transmit their annual financial statements and financial reports electronically to banks and savings banks in a uniform format. This is a further step in the direction of digitization based on the solution of diSCIS and ABK. The solution is hosted by EFiS.
The current SWIFT release 7.2 and the self-attestation for the TARGET2 platform were presented by Matthias Fauth (EFiS). The technical changes in the SWIFT release and the further development of WEBENIX 5.0 were subsequently explained by Peter Ehrenberg (ABK). The technical changes in the SWIFT formats, TARGET2 and SEPA were the supplementary topic of Sadri Syla (Paymentgroup International).
Instant Payments is currently another driver in payments. Therefore, the current development at RT1 also points upwards, as Katja Heyder (EBA Clearing) explained. There are currently about 20,000 Instant Payments processed per day. Of course, this is only a fraction compared to STEP2. But Instant Payments has just begun. EBICS is currently a key access channel for RT1. SWIFT is in the pilot testing with EFiS for SWIFTNet Instant.
Our PSD2 API and Sandbox were introduced by Dwayne Smith. The banks must provide test environments - so-called sandboxes - so that manufacturers can test their applications. The sandbox is thus a decisive component for turning account information and payment initiation into new services.
The exciting event was traditionally rounded off with a get-together. Also, this part, like the break talks, are important. The bilateral exchange between the participants is often as inspiring as the event itself. Therefore, we look forward to the next Usermeeting on 12th December 2018 in Dreieich.