Product Release for the Bankgiro System. April Edition Spring 2016

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April 2016 Product Release for the Bankgiro System Edition Spring 2016 Postal address: SE-105 19 Stockholm, Sweden Visitors: Palmfeltsvägen 5 Web: bankgirot.se Bankgiro no.

1 April 2016 Product Release for the Bankgiro System Edition Spring 2016 Postal address: SE Stockholm, Sweden Visitors: Palmfeltsvägen 5 Web: bankgirot.se Bankgiro no.: Head office: Stockholm Switchboard: +46 (0) Org.No VAT No. SE Bankgirocentralen BGC AB /04/ :24:00. All rights reserved.

2 Page 2 (15) Product Release Spring 2016 for the Bankgiro System and Associated Communications Products This document is intended for the banks that participate in the Bankgiro system. This document describes the planned changes to the system and the associated communications products. This document contains information that can be an aid to participating banks' planning and development work for 2016 and Bankgirot s future payment infrastructure In light of the changes taking place in the world around us and the trend towards more standardised payments, Bankgirot, together with participants in the Bankgiro system, is implementing a strategic initiative called Bankgirot's future payments infrastructure. The vision describes how Bankgirot will develop the payments infrastructure for mass payments in order to meet future needs and requirements. Read more about this in the section on long-term initiatives and projects. Activities During 2016 and 2017 a number of development activities will be implemented as listed below. Bankgirot informs each project and product forum about activities and plans on an ongoing basis. Our ongoing development activities during 2016 and 2017 are: Euro payments are to be removed from Bankgirot's products Daily account inquiry Bg Avtal - Changed processing for safer change of bank Bg Avtal - Changes concerning contact persons

3 Page 3 (15) Contents Summary of changes since last product release... 4 Upcoming changes... 5 Euro payments are to be removed from Bankgirot's products... 5 Daily account inquiry... 8 Bg Avtal - Changed processing for safer change of bank Bg Avtal - Changes concerning contact information Long-term initiatives and projects... 15

4 Page 4 (15) Summary of changes since last product release Since the last release was published in the autumn of 2015 the following changes that affect banks in the system have been implemented and are thus taken out of the document: Bg Avtal - Trial runs for Bankgiro payments have been removed The Tax Authorisation service (Skattefullmakt) is being discontinued

5 Page 5 (15) Upcoming changes Incoming and Outgoing Payments Euro payments are to be removed from Bankgirot's products General Bankgirot is currently processing payment instructions that include payments in Euro via outgoing payment products and later reports the Euro payments via incoming payment products. works today Outgoing payment products Leverantörsbetalningar (LB - Supplier Payments), Avgående Betalningar Bank (Pre-authorised Payments includes internet payments) and Emittentutbetalningar (Issuing House outgoing payments) process the currency Euro. The Leverantörsbetalningar (LB - Supplier Payments) product sends bank customers payment instructions to Bankgirot in Swedish kroner or Euro, which are processed by Bankgirot. It is also possible to include cross-border payments in, among other currencies, Euro. Bankgirot send these directly to the bank that processes and makes the payments. The Emittentutbetalningar (Issuing House outgoing payments) product sends Euroclear payment instructions to Bankgirot in Swedish kroner or Euro, which are processed by Bankgirot. The Avgående Betalningar Bank (Pre-authorised Payments) banks send payment instructions to Bankgirot in Swedish kronor or Euro, which are processed by Bankgirot. The payment products Insättningsuppgift på papper (Deposit information on paper) (Bg 140), Insättningsuppgift via Internet (Payment advice reports via internet) and Bankgiro Inbetalningar (Bankgiro Receivables) report Euro payments. The changes we are making As of 31 October 2016, Bankgirot will no longer process payment instructions in the Euro currency in the services Leverantörsbetalningar (Supplier Payments) and Avgående Betalningar Bank (Pre-authorised Payments). Bankgirot will however continue to process Euro payments in Emittenutbetalningar (Dividend Payments). The following payments in Leverantörsbetalningar (LB Supplier Payments) and the currency Euro will not be processed by Bankgirot with effect from 31 October 2016: Giro transfer to bankgiro number Credit transfer without notification Credit transfer with notification The following payments in Avgående Betalningar Bank (Pre-authorised Payments) and the currency Euro will not be processed by Bankgirot with effect from 31 October 2016: Giro transfer to bankgiro number Credit transfer without notification Credit transfer with notification

6 Page 6 (15) As no payments in Euro will be processed by Bankgirot there will be no reports available in the currency of Euro in Bankgirot s incoming payment products (Bg 140), Insättningsuppgift via Internet (Payment advice reports via internet and Bankgiro Inbetalningar (Bankgiro Receivables) with effect from 31 October Why are we making the changes? Due to new EU regulations* Bankgirot, in agreement with the participants in the Bankgiro System, has decided to remove the Euro payments functions from the Leverantörsbetalningar (Supplier Payments) payments service as well as Avgående Betalningar Bank (Preauthorised Payments). * SEPA, Single Euro Payments Area, is an initiative within Europe that aims to strengthen European integration and Europe's competitiveness internationally by means of a unified payments structure for mass payments in Euro. The European Commission has adopted a regulation that requires national payments products and formats for payments in Euro in the EU to be replaced with products and formats that comply with SEPA's regulations. The regulations apply as of 31 October 2016 to those countries in the EES that do not use the Euro as their national currency. will work The removal of payments in Euro via Bankgirot means that the bank will offer its customers a payments solution based on the ISO XML format or other format specified by the bank. The banks customers will be using their respective bank's solution for these payments. The possibility of cross-border payments in the product Leverantörsbetalningar (Supplier Payments) will remain for all currencies. After the changes, Bankgirot will send these directly to the bank. When will the changes be made? The changes will be made as of 31 October Since May 2014, Bankgirot has been working with the banks in a banking working group to identify measures for the removal of Euro payments from Bankgirot s services and to create a joint strategy, schedule and solution for this work.

7 Page 7 (15) What does the bank need to do? The removal of payments in Euro via Bankgirot means that the bank needs to be able to offer its customers a payments solution based on the ISO XML format. This, in turn, can entail a need for development work. The bank's customers need to receive information about the changes and the available alternatives in good time. The changes also mean that the bank may need to change its systems and phase out the functions that support the current solution. Alternative solutions for reporting to bank customers including handling of cross-border payments in the currency of Euro must also be considered by the bank. What does the customer need to do? The changes mean that customers who currently send their Euro payments via Bankgirot must instead send them directly to their bank. The banks' customers will not be able to use bankgiro numbers for payments in Euro. They are also affected by the format requirements as the ISO XML message format is to be used for all Euro payments. Customers who receive payments in Euro may also need to make certain changes. Among other things, the information on invoices in Euro needs to be changed as it will not be possible to make Euro payments in the EES to bankgiro numbers but only to IBAN numbers. Moreover, reconciliation procedures may need to be adapted to the banks' new solutions. Software and business systems that process Euro payments to bankgiro numbers will need to be adapted to new payment flows and formats in consultation with the banks and customers. Any questions? Contact Bankgirot by produktsupport@bankgirot.se. Bank branches should contact their central office in the first instance.

8 Page 8 (15) Incoming and Outgoing Payments Daily account inquiry Overview of the product Bankgirot currently offers two services regarding account inquiry: A service where the Swedish Tax Agency as the only customer sends files to Bankgirot containing new account notifications (excess tax) where a check of the account is included. The second service allows banks and companies to check account and person/organisation number to find out if the account is valid and open for deposits. works today These account inquiry files follow a weekly schedule in the current solution. The inquirers send files to Bankgirot by 17:00 at the latest on a Wednesday. Inquiry/response processing between Bankgirot and the bank takes place Thursday - Monday. Response file from Bankgirot to the inquirer is delivered on the following Monday. The changes we are making Why are we making the changes? Bankgirot will change the scheduling of the service to make the processing quicker, from once a week to daily. Bankgirot will gather all account inquiries and send to all response banks. The response banks respond within a given time every banking day and Bankgirot compiles the responses and returns to the inquirer. This will happen daily on every banking day. This change makes it possible for payments from a company to reach a recipient much quicker than allowed by the current solution of a weekly schedule. Bankgirot and the banks are constantly receiving notifications of interest in a quicker service, from companies and other stakeholders. This is also a strategic development allowing Bankgirot to offer a more up-to-date and efficient service. will work After production has commenced, Bankgirot will gather all account inquiries and send these to all the response banks each banking day. The banks respond with the same frequency. When will the changes be made? November 2016 What does the bank need to do? The bank needs to change its reply processing from once a week to daily.

9 Page 9 (15) What does the customer need to do? The banks end customers using the service Account inquiry must be able to process a new error message within the system when production has commenced and alter any scheduled runs. Any questions? Contact Bankgirot by produktsupport@bankgirot.se. Bank branches should contact their central office in the first instance.

10 Page 10 (15) Support services Bg Avtal - Changed processing for safer change of bank Overview of the product Bg Avtal is a web-based application for the processing of Bankgiro numbers and the bank customer's agreement information relating to bankgiro services. The functionality offered is partly search functions and customer overviews. There is also functionality for connecting, changing and terminating Bankgiro numbers and associated services for Bankgiro numbers. When a Bankgiro number is to change bank, the bank employee also has the possibility of completing this in the interface. works today The changes we are making Current a bank employee via Bg Avtal can only complete a change of bank for a bankgiro number by stating the new account number and put a cross in a check box that the delivery bank has been contacted and informed of the change. The simple function of bank change has been known to result in incorrect bank changes by stating an incorrect account number or the change is done for an incorrect customer/organisation number. Bankgirot is introducing a mandatory entry of the organisation number for the bankgiro number that is going to have a bank change; this gives a new pop-up box with a warning text and detailed information of the bank change customer, prior the change being made. The change gives the employee the opportunity to check and make sure it is the right customer that is to be changed. Why are we making the changes? To reduce the amount of incorrect changes of bank and therefore prevent any negative consequences of this.

11 Page 11 (15) will work When will the changes be made? The employee advises the delivery bank regarding the forthcoming change for the customer and completes, exactly as at present, a check box that the delivery bank has been informed. The employee also completes the new account number and mail addresses for those that need to be informed of the change. A new mandatory check box for the organisation number must be completed (it is not possible to copy/paste the information.) After this the information is saved. A new pop-up box showing the customer s organisation number, bank giro number, name, address and the new account number is shown for the employee to check. There is also a general warning message given regarding the importance of completing the change of bank correctly. When the employee has made sure this is the right customer, click Save new information or Cancel. Thereafter the change is carried out exactly as currently. May 2016 What does the bank need to do? Inform bank employees regarding the new way of making bank changes in Bg Avtal. What does the customer need to do? Nothing. Any questions? Contact Bankgirot by produktsupport@bankgirot.se. Bank branches should contact their central office in the first instance.

12 Page 12 (15) Support services Bg Avtal - Changes concerning contact information General BG Avtal is a web-based application for the processing of Bg Avtal is a web-based application for the processing of Bankgiro numbers and the bank customer's agreement information relating to Bankgirot services. The functionality offered is partly search functions and customer overviews. There is also functionality for connecting, changing and terminating Bankgiro numbers and associated services for Bankgiro numbers. works today In Bg Avtal the contact information for the customer is added to the customer agreement. The information added is name, telephone number, address and fax number. There are also four responsibility areas that individuals can be connected to: - Finance - Data - Security - Passwords Bankgirot uses the contact person information to make contact with the customer if for example any problems have occurred with the customer s payment files. Currently there are no possibilities of changing the information for existing contact persons. You therefore have to remove the person first and then register again with the new information. The changes we are making The processing of contact persons will be changed in Bg Avtal. The changes shown below are what is going to happen. The address of a contact person becomes mandatory information. Responsibility areas will change. The responsibility areas Security and Passwords will be removed and Data will change it s name to IT. Finance remains unchanged. Order of priority of the contact persons within the responsibility area is made possible. The possibility of editing a contact person s information is introduced. will work When registering a new customer agreement the employee at the bank must complete the address for the contact person. When changing a customer agreement the employee at the bank must complete the address for existing contact persons if this is missing. The contact persons that are currently connected to the responsibility area of Data will be moved to IT. The contact persons that are currently connected to the Security and Passwords will be deleted.

13 Page 13 (15) An order of priority will be available for contact persons within each area of responsibility. This means that Bankgirot will contact the customer s contact persons in the right order when we for example make contact with the customer because of problems with payment files.

14 Page 14 (15) When will the changes be made? The change will take place in mid September. What does the bank need to do? Update any customer agreement and any instructions for bank employees regarding the processing of contact persons in Bg Avtal. Any questions? Contact Bankgirot by Bank branches should contact their central office in the first instance.

15 Page 15 (15) Long-term initiatives and projects Bankgirot s future payment infrastructure In light of the changes taking place in the world around us and the trend towards more standardised payments, Bankgirot, together with participants in the Bankgiro system, is implementing a strategic initiative called Bankgirot's future payments infrastructure. The vision describes how Bankgirot will develop the payments infrastructure for mass payments in order to meet future needs and requirements. The purpose of this initiative is to create a new, modern, flexible and cost-effective infrastructure for payments in Sweden, with the possibility of extension to other regions and currencies. An agreement with participating banks about the continuation of this long-term work was made prior to the summer of Since that time Bankgirot and the participating banks have continued to investigate and develop the future offerings of Bankgirot. During the spring of 2016 Bankgirot will concretisise the future offerings to banks further by preparing a collection of documents that will be called Bankgirot s future offering 2.0. The offer includes the information Bankgirot and bank representatives are working on regarding the future payment infrastructure that they can see will be a common requirement for all banks. The offer will be presented for agreement in Bankgirot s Management forum in May Within the services offered by Bankgirot there are possibilities for unique bank solutions and this dialogue is carried out separately with the respective bank. During the work on the future payment infrastructure, the Swedish Bankers Association s work will be a guideline for the common bank offerings both in context and time schedule. The banks are expected to make a policy decision with regard to a new Swedish payment infrastructure during the Swedish Bankers Association s meeting in June 2016.

Product Release for the Bankgiro System. October Autumn 2016 Edition

October 2016 Product Release for the Bankgiro System Autumn 2016 Edition Postal address: SE-105 19 Stockholm, Sweden Visitors: Palmfeltsvägen 5 Web: bankgirot.se Bankgiro no.: 160-9908 Head office: Stockholm