cash management updates for erp and tms vendors€¦ · services industry. this technology has the...

1/8nordea.comUPDATE | BUSINESS PARTNERS

2015/V1

UPDATE | BUSINESS PARTNERS

DECEMBER 2015

Contact us for support: Denmark Finland Norway SwedenLearn more about technical information for ERP-vendors

Welcome to the December issue of our newsletter. Before breaking up for Christmas holidays we would like to give you a few updates.

We are excited to inform you that Nordea has joined the Distributed Ledger Group focusing on distributed ledgers and blockchain technology. This is something that will definitely impact the payment landscape in the future and Nordea has taken an active role in this process. You can read more about this in one of the below articles. You will also be able to read some of our findings from the annual EuroFinance Cash & Treasury Conference held in Copenhagen in September. In this newsletter we have highlighted some of the key challenges for corporate treasurers which are relevant for both vendors and banks. The first pilot customers for Corporate Access are now successfully launched, and we are able to give you an update on deadlines and launch plans. We have also successfully held our first webinar this month. More will follow, and we are planning several more in 2016. If you were not able to participate, you can can view and download the material from nordea.com/vendors. Thank you for good cooperation in 2015 – we look forward to the continuation in the coming years. Merry Christmas from all of us in Nordea Cash Management.

Mikael Kepp

Cash Management updatesfor ERP and TMS vendors

http://www.nordea.dk/Erhverv/Betalinger/Betalinger/Information+til+ERP-leverand%C3%B8rer/1686742.html

http://www.nordea.fi/Yritykset+ja+yhteis%C3%B6t/Maksuliike/Yhteys+pankkiin/Tietoa+ohjelmistotaloille/1432892.html?WT.svl=mega-menu_maksuliike_advice_tietoa-ohjelmistotaloille

mailto:support1%40nordea.no?subject=

http://www.nordea.se/foretag/betala/programleverantor/index.html

http://www.nordea.com/en/our-services/cashmanagement/supportandcontact/ERP-vendor-resources/

http://www.nordea.com/vendors


2015/V1


DECEMBER 2015


EuroFinance: Where the global treasury community meetsThe focus for this year’s conference was the topic of keeping fit, adopting innovation and spotting key financial trends.

From our dialogues with customers attending the conference, we have noted a number of key challenges for treasuries. The list below is far from pre-emptive, but the challenges are highly relevant to both vendors and banks when developing and implementing global solutions for corporate customers. Biggest challenges ahead for corporate Treasurers• Increased focus on financial anticrime,

fraud and compliance• Increased number of cyberattacks• Standardisation and promises of cost-

savings fuel the centralisation effort

• SEPA End Date is approaching fast and requires migration projects to CGI/XML on ERP and TMS systems

• Increased focus on digitalisation and simplification of treasury processes

• Supply Chain Finance and Working Capital Management are still high on the agenda

Market impact of digitalisationNordea is the main sponsor of the EuroFinance Cash and Treasury Management Conference, and we had the opportunity to host a speaking session where Christian Luiga CFO of TeliaSonera and Nordea’s new CEO Kasper von Koskull discussed how corporates and banks will be impacted by the digitalisation:

NORDIC NEWS







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DECEMBER 2015


What will your bank look like in a digitalised society? Digitalisation drives a fundamental change of consumer behaviour and service consumption. • What does this mean for the banks and for

their corporate clients? • Is it the beginning of a revolution that will

radically alter bank products and pricing?

Next year the conference will be held in Vienna, Austria. Nordea will be there– will you too?

Visit EuroFinance for more information about next year’s conference.

Click to see the recording from the session






http://www.eurofinance.com

http://insights.nordea.com/teliasonera-nordea-digitalisation-bank-treasury?lnkid=com-uk%7CERP%7CInsights%7CMailing






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DECEMBER 2015


The Corporate Access launch (new file format ISO20022/XML) is progressing and we have started with the first pilot customers in Sweden. In parallel with the Swedish pilot process we are planning for the Norwegian pilot process to go live in March 2016 and the Danish one for April next year.

When spring arrives and the pilots are finalised, we will have a Nordic solution up and running for corporate customers with accounts in Sweden, Norway and Denmark.

We encourage all ERP vendors to begin the required work for the new file format development. For documentation and access to the new Test Tool (updated 14 December), please visit our website.

Link to www.nordea.com/vendors.

An update on launch dates for Corporate Access

Blockchain






http://www.nordea.com/vendors


2015/V1


DECEMBER 2015


Thirty-five international banks – including Nordea, Citi, Deutsche, HSBC and Goldman Sachs – are collaborating with the company Distributed Ledger Group to develop common standards and applications for distributed ledger/blockchain technology in the financial services industry.

This technology has the potential to impact the payment landscape in the future, and Nordea will take an active role in this process.

Read more here

Nordea has joined the international blockchain partnership

Blockchain






http://www.nordea.com/en/press-and-news/news-and-press-releases/news-en/2015/2015-10-28-nordea-joins-groundbreaking-technology-partnership.html


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DECEMBER 2015


NORWAY

Common solutions and the tradition of working together NORWAY: To ensure we have common solutions that benefit all players in the Norwegian market, banks, ERP vendors and Nets have a tradition of cooperation. These types of standardisation initiatives have normally been handled by Bankenes Standardiseringskontor (BSK), and this will again be the case when introducing ISO20022/XML before the SEPA end date of 31.10.2016.

When implementing the new XML file format, Nordea plays a vital part in this cooperation, together with other banks and ERP vendors, to secure we will have a common solution for corporate customers in Norway.

It is vital that the solution is ready for corporates in good time before SEPA end date to enable them to send SEPA Credit Transfers (CT) in ISO20022/XML format.

When introducing ISO20022/XML in the Norwegian market, we will also carry out a “clean-up” where out-dated formats will be phased out, and only the new XML format will remain for domestic and international payments. This is a long term scope and is planned to be finalisedin 2018.

It is still possible for vendors and banks to attend the meetings and participate in the cooperation. Please contact BSK at www.bsk.no.

LOCAL NEWS

Blockchain






http://www.bsk.no


2015/V1


DECEMBER 2015


SWEDEN

Domestic SEPA Credit Transfer (EUR) payments to/from accounts in SwedenSWEDEN: From 28 October 2016 Nordea will only accept domestic Plusgiro, Bankgiro and account payments in SEK through Nordea and Bankgirot. To avoid doing Bankgiro and Plusgiro domestic payments in EUR, customers should ask the issuer of the invoice to:

• Send the invoice in SEK instead • Continue to send invoice in EUR, but do this with an IBAN as account number

To comply with the SEPA legislation, all commercial EUR payments within EU/EES countries will be processed as cross-border payments. Further information about SEPA payments in Nordea can be found here.

Further information about the close down of EUR payment in Bankgirot can be found here.

New mailbox for electronic salary specification SWEDEN: At the end of this year, Postnord will close their service ePostboxen. Due to this, Nordea have switched to Kivra’s digital mailbox when distributing electronic salary specifications for corporate customers who use the service Löner via personkonto (LON).

The change does not affect the employerThe employer continues to send their salary pay-out file and specifications to us and we will, as before, pass on their salary specifications to Nordea and Swedbank Private Internet bank service.

The switch to Kivra happened in November This change has affected employees who previously used ePostboxen. They must instead connect to Kivra to receive their salary specifications. The change took place on 16 November 2015.

A green move by Nordea From 2016, Nordea will further contribute towards a greener Sweden. All salary specifications for employees will be electronic, saving a vast amount of paper.






http://www.nordea.com/en/our-services/cashmanagement/insightsandknowledge/sepa/index.html

http://www.bgc.se/en/about-bankgirot/press-and-news/news/leverantorsbetalningar-supplier-payments-in-euro-to-be-removed-in-2016/


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DECEMBER 2015


FINLAND

Changes in the remittance information instances in SEPA credit transfer's additional service AOS2 / 999 in 2016FINLAND: With the help of the AOS2 / 999 additional service, a corporate customer may in the future transmit the information of a maximum of 999 credit/debit invoices in the itemisations of one SEPA credit transfer. The total amount of the information of the credit and debit invoices must equal the amount of the credit transfer. At present, the maximum number of remittance information instances is 9. Finnish banks have agreed on adopting the extended service as of 11 April 2016. The service concerns domestic banks. Remittance information instances are not transmitted to foreign banks.

At present, Nordea transmits 999 remittance information instances in payments between Nordea's corporate customers, when the customer has adopted version 3 of the pain.001 credit transfer message. In payments to other domestic banks, Nordea transmits no more than 9 remittance information instances.

As informed earlier, Nordea has launched a simplification project to streamline payment processes and to harmonise the service offering in the Nordic countries and the Baltics. The adoption of the new Payment Platform will begin during 2016. Due to these technical changes, we will revert at a later date when we will adopt the transmission of the 999 remittance information instances to other domestic banks. We apologise for any inconvenience caused by the delay.






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