The Bank Of New York Mellon Corporation · NYSE:BNY
The Bank Of New York Mellon — Investor Presentation (October 2022)
36 slides from The Bank Of New York Mellon's investor presentation, October 2022
Slide 1: ISO 20022 Community Readiness Deck
ISO 20022 Community Readiness Deck October 2022
Slide 2: Agenda
Agenda Introduction Go to section Preparing for Live Deployment Go to section Testing Go to section Consequences of not acting for readiness Go to section Rich Data Go to section Resources Go to section ISO 20022 Community Readiness Deck 2
Slide 3: Introduction
Introduction ISO 20022 Community Readiness Deck 3
Slide 4: ISO 20022 timeline for Cross-Border Payments and Reporting (CBPR+)
ISO 20022 timeline for Cross-Border Payments and Reporting (CBPR+) Nov 2025 August 2022 End of MT/MX coexistence Optional live service (early adopters) All messages (MTs) supporting cross-border Participants can start exchanging CBPR+ payments and reporting messages (categories 1, messages and relyi
Slide 5: A coexistence period from November 2022 to November 2025
A coexistence period from November 2022 to November 2025 ISO ISO Sender 20022 20022 Receiver + MT In-flow translation In November 2022, SWIFT participants will: During the coexistence period, from November 2022 to November 2025, SWIFT will provide support for interoperability between ISO – Have the
Slide 6: Am I impacted?
Am I impacted? FIN Category 1, 2 and 9 MTs will be retired in November 2025 CBPR+ messages based on ISO 20022 definitions, will replace them, starting November 2022 There are SOME exceptions… – Message exchanges in the SCORE service will continue as they are for the foreseeable future – Closed User
Slide 7: What do I need to do for November 2022?
What do I need to do for November 2022? Bank profile Will typically send… Obligation to receive… ISO enabled bank ISO 20022 to all 1. ISO 20022 or Multi format MX containing translated MT, over FINplus correspondents 2. MT for MT originated payments over FIN MT legacy bank MT while still 1. Multi fo
Slide 8: Your readiness journey towards November 2022
Your readiness journey towards November 2022 Set up your testing environment Prepare for Live deployment 01 Upgrade your Test interface 01 Upgrade your Live interface 02 Configure your interface and set-up your test connectivity 02 Validate and import the FINplus Bootstrap file into your RMA Interfa
Slide 9: Preparing for Live Deployment
Preparing for Live Deployment ISO 20022 Community Readiness Deck 9
Slide 10: Upgrade your messaging interface
Upgrade your messaging interface By November 2022, it is mandatory to upgrade to a messaging interface version that can: Third party ➢ Cope with multi-format MX messages applications ➢ Output to back-office applications in either format, including translation result Verify with your messaging interf
Slide 11: FINplus Automated Subscription and CBPR+ Messages Activation
FINplus Automated Subscription and CBPR+ Messages Activation Jan 2022 May & June 2022 21 Aug 2022 20 Nov 2022 Auto subscription Auto subscription CBPR+ CBPR+ Pilot Future Pilot Current & Live Messages activation Messages activation Early Adopters General Availability Live – requires opt-in Live CBPR
Slide 12: RMA and ISO 20022 Readiness
RMA and ISO 20022 Readiness Note – Like for FIN, the use of RMA is optional for test traffic on FINplus. Feb 2022 Aug 2022 Nov 2022 CBPR+ 2.1 CBPR+ Go-Live CBPR+ Go-Live available for testing (opt-in) (general) Apr 2022 Jul 2022 RMA Portal Pilot Automatic Day -1 sync Continued sync and consistency c
Slide 13: Universal Confirmation and ISO 20022 Readiness Checklist
Universal Confirmation and ISO 20022 Readiness Readiness Checklist Ensure your confirmation process is ready for your pacs.008 messages Consult the latest Universal Confirmation Rulebook available Starting as from November 2022 Test within your own institution your confirmation capabilities For all
Slide 14: Testing
Testing ISO 20022 Community Readiness Deck 14
Slide 15: Customer ISO 20022 readiness will drive the customer testing journey
Customer ISO 20022 readiness will drive the customer testing journey Not yet ISO 20022-ready Adopt ISO 20022 natively Traffic received Traffic sent Traffic received Traffic sent Today FIN (MT) FIN (MT) FIN (MT) FIN (MT) Nov 2022 FIN (MT) FIN (MT) FIN (MT) FINplus (ISO 20022) FINplus (ISO 20022 w ith
Slide 16: Recommended timeline for readiness completion
Recommended timeline for readiness completion Recommended window Start as soon as possible to keep a contingency window before go-live Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 CBPR+ 2.0 CBPR+ 2.1 Business readiness Standards testing based on CBPR+ 2.1 UGs Standards CBPR+ 2.0 CBPR+ 2.1 Busines
Slide 17: Consequences of not acting for readiness
Consequences of not acting for readiness ISO 20022 Community Readiness Deck 17
Slide 18: Get ready to ensure business is not impacted
Get ready to ensure business is not impacted From November 2022, any participant can begin sending ISO 20022 messages for CBPR+. Payment messages will move first. Reporting messages will follow a slower pace. Not being ready will mean a break in the continuity of your business operations, with payme
Slide 19: Your readiness journey – Alliance Access / Entry, AMH or Third party on-premise interfaces
Your readiness journey – Alliance Access / Entry, AMH or Third party on-premise interfaces Set up your testing environment Prepare for Live deployment 01 Upgrade your Test interface 01 Upgrade your Live interface 02 Configure your interface and set-up your test connectivity 02 Validate and import th
Slide 20: What if you do not act? Alliance Access / Entry
What if you do not act? Alliance Access / Entry What is the problem What can I do 01 Messages are sent to the repair queue 01 Upgrade your Alliance Access / Entry interface to 7.6.50 or higher Default emission / reception profile is ▪ Activate emission / reception profile on Production 02 ▪ not acti
Slide 21: What if you do not act? Alliance Messaging Hub
What if you do not act? Alliance Messaging Hub What is the problem What can I do 01 The embedded MT is not extracted from the multi-format MX messages in Alliance Messaging Hub 01 Upgrade your Alliance Messaging Hub interface to 4.2 or higher * and configure your FINplus connectivity 02 There is a d
Slide 22: Your readiness journey – Alliance Lite2 or Alliance Cloud
Your readiness journey – Alliance Lite2 or Alliance Cloud Set up your testing environment Prepare for Live deployment 01 Confirm your configuration (default or customized) 01 Get your configuration on production (default or customized) 02 Be ready to test * 02 Validate the FINplus RMA bootstrap reco
Slide 23: What if you do not act? Alliance Lite2 or Alliance Cloud
What if you do not act? Alliance Lite2 or Alliance Cloud What is the problem What can I do 01 Messages are not sent to the correct Autoclient or SIL folder 01 Check the applied configuration / workflows and customise them if needed 02 There is a mismatch in RMA records of my back-office RMA applicat
Slide 24: What if you do not act? Connected via a Connectivity Provider
What if you do not act? Connected via a Connectivity Provider (Service Bureau or Group Hub) What is the problem What can I do 01 ISO 20022 or multi-format messages are not delivered to the back-office applications 01 Contact Service Bureau / Group Hub to check the interface has been upgraded, config
Slide 25: Rich Data
Rich Data ISO 20022 Community Readiness Deck 26
Slide 26: Important Market Practices and Guidelines
Important Market Practices and Guidelines Best Practice Guidelines for the Payment Industry Migration to ISO 20022 December 2021 Core principles for a successful migration and potential interoperability challenges facing the broader payments community Link PMPG ISO 20022 Migration and Interoperabili
Slide 27: Rich Data Access: centrally retrieve ISO 20022 rich data from Case Management
Rich Data Access: centrally retrieve ISO 20022 rich data from Case Management CONTEXT BENEFITS • Supports the implementation of the CBPR+ Data Integrity Market Practice • Removes dependency on previous intermediaries Guidance • Speeds up exceptions handling for rich data that could not be transporte
Slide 28: How to centrally access rich data through Case Management?
How to centrally access rich data through Case Management? 1. ASSIGNING THE USER ROLES Update TMTransactionViewer 2. TRIGGERING THE CASE 3. CONSULTING THE DATA ISO 20022 Community Readiness Deck 29
Slide 29: Resources
Resources ISO 20022 Community Readiness Deck 30
Slide 30: How to get started: 'Get ready for ISO 20022 for CBPR+' page on swift.com
How to get started: 'Get ready for ISO 20022 for CBPR+' page on swift.com Learn about your readiness journey Public, does not require any swift.com login 01 Upgrade your Test interface 02 Configure your interface and set-up your test connectivity Documenting all the steps of your 03 Test (self-testi
Slide 31: How to get started: CBPR+ Interactive Readiness Checklist on the Knowledge Centre
How to get started: CBPR+ Interactive Readiness Checklist on the Knowledge Centre Export to PDF A checklist of milestones with tasks that your Filter for tasks applicable to your institution must perform to be ready to receive messaging interface group and keep track multi-format MX messages as of N
Slide 32: How to dive further: 'Ensuring ISO 20022 Readiness' page on the Knowledge Centre
How to dive further: 'Ensuring ISO 20022 Readiness' page on the Knowledge Centre One-stop shop for all technical specifications Protected, requires swift.com login 01 Upgrade your Test interface 02 Configure your interface and set-up your test connectivity Documenting all the steps of your 03 Test (
Slide 33: Customer ISO 20022 and MT Customer Testing
Key document! ISO 20022 and MT Customer Testing time to get started! Structure of the guidelines Testing Journey Business and Functional Testing Self –Testing Testing with SWIFT Testing as a community Customer Performance Testing Non-Functional Testing Business Continuity Testing Three testing phase
Slide 34: Multiple learning opportunities available as part of your institution's annual fee
Payable training tailored to individual needs in your workforce Business community training Technical community training Enhance your knowledge of ISO 20022 Build on your knowledge to gain CBPR+ Guidelines through the technical know-how on FINplus through the SWIFT community and Tailored SWIFT Tailo
Slide 35: You need to act now …and test!
You need to act now Time to upgrade Resources Get in touch …and test! Collaterals, articles, Contact your Upcoming and local SWIFT recorded webinars representative ISO 20022 Community Readiness Deck 36
Slide 36: www.swift.com
D (SWIFT) f Ww. swift.com
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