SIBOS – Around the world in 2 seconds
Sydney’s International Convention Center is right on the harbor, surrounded by skyscrapers. In the building itself, the Sibos 2018 comes to an end and we represent our role as a pioneer in innovative topics. The blockchain was shown on a practical example that we carried out together with Bayer AG. On the subject of eBAM, electronic bank account management, where, for example, bank accounts can be opened, we also show what is possible today. Likewise with SWIFT gpi, we are piloting these innovative SWIFT features with a well-known EFiS customer. But the main interest was instant payments and BPO for payments.
BPO for Payments is our specialty. We have been operating a certified SWIFT service bureau for more than 20 years and offer additional interfaces: EBICS, BACStel and Finance IPNet. This allows banks to reach the clearing systems RT1, TIPS, T2, T2S, EURO1, STEP2, BACS and SIC. On our EFiS payment platform, we host payment transactions for banks and large corporates. The EFiS payment platform processes a wide variety of formats and routes them safely to their destination. Our references in the BPO speak for themselves.
At our booth, we showed how instant payments are sent in breathtaking 2 seconds between Sydney, Frankfurt and back. The instant payments will be cleared via RT1 of EBA Clearing. One route uses SWIFTNet Instant, the other EBICS. This makes us the first to show clearing via RT1 with SWIFTNet Instant and EBICS. We will also use SWIFTNet Instant for TIPS. The pilot was successful. The second access to TIPS will be through our own EFiSNet as we will become NSP next year. We are then with EFiSNet, the third NSP in addition to SWIFT and SIA and thus again a front runner for TIPS.
The Sibos was a complete success. Therefore, after the Sibos is before the Sibos and we look forward to welcoming you next year with our innovations at our booth.