Payment Transaction News

The 95th User Meeting – transformation and regulatory requirements go hand in hand

The experts at the 95th User Meeting focused on the consolidation of the Target services, innovations from SWIFT and the importance of regulatory issues. Furthermore, EFiS AG proudly presented the well-known Instant Payments showcase of the coffee machine, extended by the factor artificial intelligence.

The role of the first speaker was taken over by the CEO of EFiS AG, Mr. Armin Gerhardt, with his remarks and ideas on the subject of electronic invoicing processes. In his contribution, Mr. Gerhardt compared the digital with the analogue invoicing process and pointed out the economic efficiency, in particular the possible savings potential. He also referred to the implementation of e-invoicing in EFiS AG applications.

The new Account Manager for the SWIFT Service Bureau EFiS AG, Mr. Ralf Klein (SWIFT), and Mr. Kai Marzenell (EFiS AG) gave presentations on current SWIFT topics in a common theme block. Mr. Marzenell focused on the working relations between EFiS AG and SWIFT and gave an outlook on the upcoming milestones in 2019. Mr. Klein commented on the current challenges related to Instant Payments and gave an overview of solution methods. Starting in the year 2021, the migration to ISO20022, i.e. the XML format, will take place. It should be emphasized that there will be a four-year co-existence of the old and new payments world. A Big-Bang conversion is expressly not planned.

The presentation by Ms. Stefanie Stadtmüller (Deutsche Bundesbank) included the current state of T2/T2S consolidation. Mr. Thomas Frenzel (BearingPoint GmbH) then gave a separate presentation on the implementation phase of the T2/T2S consolidation.

Mr. Thomas Egner (EBA Association) put his focus on market regulation and took a stand. Regulator changes are often seen as showstoppers, but they are a necessary instrument to ensure security in this sensitive business area. It should be clear to everyone that regulation will be a constant companion.

In the last agenda item, EFiS and ABK concisely presented their current implementation topics to the attendees. Examples are elastic search, Payment Notification Service and login control.

Finally, the participating experts came together for a cosy get-together. Here the discussions were intensified and the day could be reappraised with a review.

EFiS AG would like to thank the speakers and all participants for coming together and for the informative day. As a result, we are looking forward to the 96th User Meeting on 26th June 2019.