Harmonization Payment Traffic Switzerland Standard presentation for banks August 2017.

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Presentation transcript:

Harmonization Payment Traffic Switzerland Standard presentation for banks August 2017

Introduction Credit transfers Payment slips Direct debits Communication/Contact

Introduction

Harmonization Payment Traffic Switzerland The following explanations are intended to support banks while communicating with their customers. They are based on the datasheet available at PaymentStandards.CH.

Harmonization Payment Traffic Switzerland Who? SIX Interbank Clearing Ltd as the Swiss financial center's decision body with regard to payment traffic.

Harmonization Payment Traffic Switzerland What? The diversity of schemes, standards & formats for credit transfers, payment slips & direct debits is being harmonized – as much as the processing of interbank payments & of payments between banks and their customers is concerned.

Harmonization Payment Traffic Switzerland How? Interconnected with the Swiss banks & software providers, various working groups of the financial center are aiming to implement the initiative in order to reduce & standardize the numbers of payments instruments for an even more effective, efficient & flexible payments processing.

Harmonization Payment Traffic Switzerland When? The decision was taken to support the current schemes, standards & formats for credit transfers until mid-2018. The new schemes, standards & formats are to be introduced for: credit transfers (XML payment file). Roll out: bank-specific QR-bill as of January 2019 direct debits. Roll out: bank-specific

Harmonization Payment Traffic Switzerland Why? Digitalization and regulation are two essential drivers of the harmonization. On the one hand, there are too many media breaks which make the processing of payments slower, inefficient, and prone to error. On the other hand, the media breaks make it hard to comply with new regulatory requirements (e.g. the revised FINMA Anti-Money Laundering Ordinance).

Credit transfers

Credit transfers Need for adaptation Today: DTA & EPO Customer Y Input software of customer Y Bank X Tomorrow: XML payment file Customer Y Input software of customer Y pain.001 pain.002 camt.052 camt.053 camt.054 Bank X Payment order Status report Intraday account statement End-of-day account statement Credit- & debit advice Need for adaptation Compulsory use of IBAN from end 2020

Payment slipsPayment slips

Need for communication Payment slips Today: red, orange Bank X Biller Y Input software of customer Y Payment slips Debtors of biller Y Need for communication Tomorrow: QR-bill Input software of customer Y Bank X Payment order Biller Y Payment credit camt.054 Need for adaptation Forms inventories

Direct debits

Direct debits Today: LSV+/BDD/Debit Direct Debit authorization (option 1) Today: LSV+/BDD/Debit Direct Biller Y Input software of customer Y Bank X (E-banking file transfer) Debtor of biller Y Debit authorization (option 2) Tomorrow: Unified direct debit procedure of PostFinance and banks

Communication/Contact