Product Release for the Bankgiro System. October Autumn 2016 Edition

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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.

1 October 2016 Product Release for the Bankgiro System Autumn 2016 Edition 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 :16:00. All rights reserved.

2 Page 2 (12) Product Release Autumn 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 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 Changes to Bg Avtal Long-term initiatives and projects Bankgirot s future payment infrastructure

3 Page 3 (12) 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 Changes to Bg Avtal Long-term initiatives and projects... 12

4 Page 4 (12) Summary of changes since last product release Since the last release was published in the spring of 2016 the following changes that affect banks have been implemented and are thus no longer included in the document: Changed processing for more secure change of bank in Bg Avtal Changes concerning contact information in Bg Avtal Since the last release was published in the spring of 2016 the following changes that affect banks have been added to the document: Changes to Bg Avtal (including the handling of communication with and reporting to end customers)

5 Page 5 (12) Upcoming changes Incoming and Outgoing Payments Euro payments are to be removed from Bankgirot's products General Bankgirot currently processes payment instructions that include payments in euro via outgoing payment products and later reports the euro payments via incoming payment products. This is how it works today Outgoing payment products Leverantörsbetalningar (Supplier Payments), Avgående Betalningar Bank (Pre-authorised Payments includes internet payments) and Emittentutbetalningar (Issuing House Outgoing Payments) process the currency euro. The Leverantörsbetalningar (Supplier Payments) product sends bank customers payment instructions to Bankgirot in Swedish kronor or euro, which are processed by Bankgirot. It is also possible to include cross-border payments in, among other currencies, euro. Bankgirot sends these directly to the bank, which processes and makes the payments. With the Emittentutbetalningar (Issuing House Outgoing Payments) product Euroclear sends payment instructions to Bankgirot in Swedish kronor or euro, which are processed by Bankgirot. With the Avgående Betalningar Bank (Pre-authorised Payments) product 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 Statements via the 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 euro in the services Leverantörsbetalningar (Supplier Payments) and Avgående Betalningar Bank (Pre-authorised Payments). Bankgirot will however continue to process euro payments in Emittentutbetalningar (Issuing House Outgoing Payments). The following payments in Leverantörsbetalningar (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 euro will not be processed by Bankgirot with effect from 31 October 2016: Giro transfer to bankgiro number Credit transfer without notification

6 Page 6 (12) Credit transfer with notification As no payments in euro will be processed by Bankgirot there will be no reports available in euro in Bankgirot s incoming payment products (Bg 140), Insättningsuppgift via Internet (Payment Statements via the 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 the EU that aims to strengthen European integration and Europe's competitiveness internationally by means of a unified payments structure for retail 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 EEA, European Economic Area, that do not use the euro as their national currency. This is how it 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 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 and handling cross-border payments in 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

7 Page 7 (12) 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 EEA 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 (12) 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 numbers to find out whether an account is valid and open for deposits. This is how it works today 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 Bankgirot will change the scheduling of the service to make the process quicker, from once a week to daily. Bankgirot will gather all account inquiries and send to all responding banks. The responding 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. Why are we making the changes? These changes will enable payments from a company to reach a recipient much quicker than with the current solution based on a weekly schedule. Bankgirot and the banks regularly receive requests for a faster service from companies and other stakeholders. This is also a strategic development allowing Bankgirot to offer a more up-to-date and efficient service. This is how it will work After implementation, Bankgirot will gather all account inquiries and send them to all the responding banks each banking day. The banks respond with the same frequency. When will the changes be made? The changes will be made in March 2017.

9 Page 9 (12) What does the bank need to do? The bank needs to change its reply processing from once a week to once every banking day. What does the customer need to do? The banks end customers using the account inquiry service must be able to process a new error message within the system as of implementation 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 (12) Support services Changes to Bg Avtal Overview of the product Bg Avtal is a web-based application for managing Bankgiro numbers and bank customer agreement information relating to Bankgirot's 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. The changes we are making Why are we making the changes? When will the changes be made? Bankgirot will implement a number of changes to Bg Avtal concerning, for example, the handling of communication with and reporting to end customers. The following changes are going to be made. When registering a new service, the choice of "Communication" will precede the choice of "Reporting". Further clarification has been added regarding the service bureau communication choice when files are to be sent via an Internet bank. The choice will be changed from "via service bureau" to "via service bureau/internet bank". When registering new reports, it will be mandatory to register a technical contact person if the company has "Other communication". Fields will be added for registering an address to an administrator when changing authentication. This is so that Bankgirot can inform the bank once the change has been made. It will even be possible for the bank to select the current date when changing authentication. It will be possible to edit the address for reports provided on paper. When the Bankgiro Inbetalningar (Bankgiro Receivables) service has been set up, and the service start date has been reached, the report is set to "Internet" by default for the Bankgiro number's media for payment statements. The choices "Paper" and "Paper and Internet" will be removed and will not be available when the customer has the Bankgiro Inbetalningar (Bankgiro Receivables) service. A bankruptcy flag will open a pop-up window with a reminder that the bank should, if applicable, terminate the Bg Faktura invoicing service. To make registering Bankgiro services in Bg Avtal easier. The changes will be made in March 2017.

11 Page 11 (12) What does the bank need to do? Inform bank employees and, if applicable, edit internal descriptions provided for them. Any questions? Contact Bankgirot by Bank branches should contact their central office in the first instance.

12 Page 12 (12) 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 retail 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. During the spring of 2016 Bankgirot concretised the future joint bank service offering by preparing a collection of documents referred to as "Bankgirot s Future Offering 2.0". The offering includes the services Bankgirot and bank representatives consider to be required by all banks in the future payment infrastructure. The offering was presented for agreement at the Bankgiro Management Forum on 26 May 2016 and the banks agreed that the offering is in accordance with the banks' vision and governing principles and matches the banks' need for a joint payment infrastructure. Bankgirot and the banks also agreed to in the autumn of 2016 prepare the first stage of this long-term project, which will span several years. The services offered by Bankgirot provide scope for optional bank-specific solutions and such discussions are held separately with each bank. In the work on the future payment infrastructure, the efforts of the Swedish Bankers' Association provide guidance for the joint bank offering in terms of both content and scheduling. According to the current plan, the banks shall reach a decision concerning the new Swedish payment infrastructure through the board of the Swedish Bankers' Association at the end of 2016.

Product Release for the Bankgiro System. April Edition Spring 2016

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.: 160-9908 Head office: Stockholm