Will EBICS Spread Throughout Europe? – A Quick Look at EBICS and Axway Financial Exchange

Mathias Bonnard, Product and Solution Marketing, Axway

“…the ability to, in a short time frame, open a new channel with a customer or partner using the protocol that they require.”

The Data They Use in the Format They Choose

John Wilson, Director of Solution Enablement – FSI, Axway

“Being competitive is about finding new solutions that the market needs. It’s about developing programs. It’s meeting customer requirements. One of the requirements that a lot of people tend to overlook is organic growth. Taking care of your existing customers and building out more share of the wallet from them — this can be one of the easiest markets to grow since they’re already your customers, but it has to be done correctly.”

Axway Connections 2011, May 10-12
Scottsdale, Arizona
Hyatt Regency Scottsdale at Gainey Ranch

For more information, visit: AxwayConnections.com

Consolidate All the Financial Flows

Mathias Bonnard, Product and Solution Marketing, Axway

“All of SWIFT’s 9,000 customers will have to migrate to SWIFT 7 between now and the end of 2011. As of today we at Axway have more than fifty customers in twenty different countries using Axway’s products to handle their SWIFT flows. And Axway’s solutions are annually certified by SWIFT, and Axway’s committed to deliver high-end support for SWIFT to its clients.”

Axway Connections 2011
March 24-25
Chantilly, France
Dolce Hotel Chantilly

For more information, visit: AxwayConnections.com

Banks and the Onset of SEPA

Mathias Bonnard, Product and Solution Marketing, Axway

“Banks will not only have to update their payment architecture in order to handle the new SEPA formats based on XML, but will also have to compensate that loss of (income) by creating new services for the corporate or individual customers.”

Making Short Work of Different Formats

Mathias Bonnard, Product and Solution Marketing, Axway

“New business processes will have to be put in place. To that end, an integration broker and a process manager allow companies to redesign their process and execute them so that they can comply with new regulated business processes on top of the existing business application without affecting them and having to change them to deploy new versions of those business applications.”

A Tough Road

John Wilson, Director of Solution Enablement – FSI, Axway

“In recent times, regulatory pressures have grown dramatically. With the Financial Services Modernization Act, or, as it’s more commonly known, Gramm–Leach–Bliley, and the more recent Dodd–Frank Act, stricter rules are being enforced on the industry. A major focus has been around the area of risk management. As part of these new acts, new visions are being created, specifically to monitor risk and enforce safeguards for data. It’s going to be adding a lot more oversight to this area. As noted in a recent whitepaper by JWG, they highlight the fact that the minimalistic approach to risk architecture that many financial institutions have taken so far is not even enough to cover current regulations.”

Reflections on SIBOS 2009

by Patrick Gouffran
SVP, FSI Strategy

A year after SIBOS 2008 (in Vienna) coincided with the cataclysm of the Lehman Brothers collapse, SIBOS 2009 began amid a storm of its own. However this one, thankfully, was a literal storm.

In Hong Kong, the summit attracted 5,400 participants, a weaker showing than the one noted in Vienna last year (8,100), but a stronger showing than the one a few years ago in Sydney, the last SIBOS in APAC.

Similary to Koppu (the name of the aforementioned storm), the Global Financial Crisis that struck one year ago seems to be in decline. For the participants, the peak of the crisis is behind us, even if the effects of the crisis are still very real.

Two SIBOS examples of the persistence of the crisis:

  • For the first time since its inception (37 years ago), SWIFT announced a decline in traffic volume over the inter-bank network.
  • In the exhibition space, several booths disappeared (compared to Vienna), often due to the “death” of their banking owners.

But, on the bright side, participants had big hopes for the relatively near future.

  • Hong Kong (and Asia in general) will boost the global economy, several speakers seemed to believe. “If you do not have a footprint in Asia, you will become an irrelevant institution within 10 years,” said a McKinsey director.
  • Major interbanking projects (like SEPA or TARGET 2 Securities in Europe) are on track. Many positive indicators highlighted during SIBOS underscored this.
  • The SWIFT Community includes corporations more than ever before. (In fact, more than 500 corporations are using SWIFT.) The increasing collaboration between banks and corporations within the SWIFT eco-system will increase the usage of standards, new solutions (there were a lot of discussions around e-BAM), and finally the automatic and secure exchange business.

Koppu left us before the end of SIBOS 2009. The summit closed under encouraging weather, both literal and figurative, and “hopeful/less pessimistic” expectations for 2010.

(Photo by SWIFT)

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