Worldwide Reform of installment base instruments, frameworks and retail managing an account .


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Worldwide Change of installment foundation instruments, frameworks and retail keeping money. Account Discussion 2002 - World Bank June 20 Cgarrigues@worldbank.org. Plan. Presentation (definition) Vital issues (destinations, partner, scope) Change Approach (standards, stages, I, II, III)
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Worldwide Reform of installment foundation instruments, frameworks and retail saving money Finance Forum 2002 - World Bank June 20 Cgarrigues@worldbank.org

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Agenda Introduction (definition) Strategic issues (destinations, partner, scope) Reform Approach (standards, stages, I, II, III) Results ( choices and venture usage) Conclusions World Bank/FSD/C G

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Introduction World Bank encounter World Bank\'s involvement in numerous nations on the move or improvement (more than 50 nations) Lessons figured out how To obviously recognize goals, imperatives, openings Stakeholders ought to be included ahead of schedule in the process Cooperation and Competition are not adversarial Reform ought to be "business driven" Technology is just an effective mean and an empowering influence to execute achievable and dependable arrangements World Bank/FSD/C G

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Introduction Payment framework goals Payment foundation last focus: to exchange an incentive starting with one member\'s record then onto the next one (bank\'s or client\'s record) It is made out of a few fundamental segments International models/rules Legal guidelines ( laws, directions, contract) Instruments (credit/charge orders ; paper/electronic) Participants (customers, banks, Central Bank, administrators) IT Infrastructure ( bookkeeping, clearing , settlement, hazard administration, liquidity administration, exchanges ) World Bank/FSD/C G

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Introduction Payment Infrastructure Quality of installment foundation covers: Fast settlement (end to end): moment, end of day Security (extortion , operational hazard) Finality (esteem accessible in an anticipated time) Cost (satisfactory for all members) Transparency (clear data is given to all members in regards to installment handle status, comes about, potential dangers) World Bank/FSD/C G

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Client B Client A Client A1 Client A2 Client B2 Client B1 Payment System Architecture is made out of three principle layers VALUE exchanged from Bank to Bank in Central Bank\'s Books CENTRAL BANK FINAL SETTLEMENT INTERBANK SYSTEMS Transportation/Exchanges CLEARING Risk/Credit Management Securities Financial markets Head Office BANK B Head Office BANK A BANKS 3 2 Branch B2 Branch A1 Branch A2 SETTLEMENT amongst Branches and Customer\'s Accounts Branch B1 3 2 1 World Bank/FSD/C G

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Functional Architecture covers many capacities/frameworks CENTRAL BANK layer Real Time Gross Settlement Large Value, Liquidity INTER-BANK layer NET Clearing LOW VALUE SECURITIES RISK/CREDIT MANAGEMENT CARDS INTRA-BANK layer Commercial Banks\' Head Offices Bank office Bank office Bank office Bank office Delivery stations ATM, POS, PHONE, INTERNET, E-COMMERCE Clients World Bank/FSD/C G

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Complex relocation prepare paper - > electronic, neighborhood - > national Low esteem installments Large esteem installments Central Bank National Clearing Centers Real Time Gross Settlement System RTGS Electronic Net frameworks interfaces Settlement accounts CB Interfaces Liquidity General record Monitoring Cards End of day Net parities Queuing component Securities Exchange interface Real Time Commercial \'Banks Interface Balances Electronic exchanges HQ business banks Regional workplaces Regional clearing paper Local workplaces Local clearing paper Commercial banks World Bank/FSD/C G

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Large esteem system=> Low volumes Low esteem frameworks => Large volumes FRANCE: year 1999 Population: 60 million Customers accounts: Banks: 45 million, Post Office: 10 million Branches Banks: 25 000, Post Office: 17 000 Low esteem net clearing framework : esteem: 4,300 billion Euros (5%) Checks: 3.4, others: 6 billion (counting card exchanges) Large esteem frameworks : 6.6 millions , esteem: 75,000 billion Euros Cards: (year 2000) emotional increment after 1985 from 5 to 20%/y 40 million ; 3.3 b installment, 1 billion money withdrawal ATM: 35 000; POS: 740 000; pay phone: 210 000; Minitel: 600 000; TV decoder: 1 700 000; cell phone: 200 000. World Bank/FSD/C G

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Large esteem system=> Low volumes Low esteem frameworks => Large volumes PORTUGAL: year 1999 Population: 10 million Customers accounts: Banks: 20.5 million, Post Office: (unimportant) Branches Banks: 5,000; Post Office: 1 000 Low esteem net clearing frameworks : Checks: 870, others: 250 million (barring card exchanges) Cards: 12.9 million ; 510 installment, 290 million money withdrawal ATM: 8 850; POS: 81 000; E-cash cards: 3.4 million ; exchanges 4.9 million World Bank/FSD/C G

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Payment Reform Objectives Economy Facilitate Industry and monetary advancement Increase productivity of Government\'s assessment gathering and costs installments Population To offer better keeping money administrations to every single potential client (scope of installment instruments/credits) To get ready simple addition of e-installment , e-saving money and internet business condition To encourage access to essential needs like water/power by prepaid cards installment World Bank/FSD/C G

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Financial segment destinations To create business To build profundity and imperviousness to stuns To conforming to worldwide benchmarks ( BIS CPSS « Core Principles ) appended to clearing and settlement frameworks : Clear and reasonable legitimate structure , Credit and liquidity chance, Efficiency, Transparency World Bank/FSD/C G

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Stakeholders accord is an essential to achievement GOVERNMENT INDUSTRIES CENTRAL BANK ADVISORY COUNCIL ON PAYMENT REFORM SME\'S COMMERCIAL BANKS INDIVIDUALS MERCHANTS World Bank/FSD/C G

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Reform Approach MAIN PHASES Candid demonstrative (SWOT, BIS/CPSS standards, FSAP) Strategy and long haul vision (business, lawful, innovation) Systems\' Architecture configuration (shared/non shared) Financing and Prioritization (planning and arranging) Implementation of frameworks engineering (extend administration) Evaluation (execution pointers) Evolution and adjustment (quality, costs recuperation) Key issues Legal system, institutionalization, collaboration/rivalry Project administration/association World Bank/FSD/C G

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List of regularly watched insufficiencies Cash and paper based instruments are predominant, Transaction preparing is problematic (protracted deferrals in clearing and settlement handle, vulnerability in irrevocability) High rate of dismissal or return, extortion , Central bank and business banks\' data frameworks are non good ( no straight through preparing) Telecommunication administrations are immature Population access to administrations is low (10%) Retail managing an account and budgetary administrations are poor Lack of straightforwardness in process status World Bank/FSD/C G

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How to move Success conditions Strong responsibility of the Central Bank and Government experts in Reform prepare Long term approach upheld by a long haul business vision shared by significant partners Development of guidelines, standards, lawful structure Realistic usage calendar of segments bolstered by a vast collaboration to quicken and improve interests in innovation, HR, showcasing, culture changes, World Bank/FSD/C G

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Participatory change approach standards 3 to 4 Workshops (4 to 5 entire days each) to cover Analysis and analytic Strategy and business vision, Global design configuration, User\'s necessities per segments Prioritization, planning and arranging Implementation Plan Evaluation philosophy Duration of the review stage 9 to 12 months. World Bank/FSD/C G

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Participatory change approach standards Workshops/Seminar association Day 1: Plenary session: Experts meetings, case of Reforms, association of gatherings and work, Day 2 to 3: three to five working gatherings in parallel; topics: business methodology, lawful system, vast esteem exchanges, low esteem exchanges, cards, innovation Day 4: Plenary session: Reports of Working gatherings and dialogs Day 5: General report, working arrangement, conclusion World Bank/FSD/C G

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Participatory change approach standards Workshop\'s Participants ( 80 to 100/workshop) Central bank ( national and territorial levels) Commercial banks ( specialists and overseeing executives) Governments ( Ministry of back, … ) Consultants ( Legal, Large esteem, Low esteem, Cards,Technology) Central Bank specialists ( Tunisia, Swizerland, France) International organizations ( WB, IMF, BIS) one noteworthy state of achievement : to keep up constant work between workshops classes World Bank/FSD/C G

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Participatory change approach usage ponder : stage I First workshop/course targets to instruct and make inspiration and accord to characterize (first draft) A long haul and concurred business vision to recognize Global utilitarian design and significant segments Legal issues to be tended to Technology issues to be tended to World Bank/FSD/C G

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Phase I: Business technique Business Strategy ought to consolidate 3 measurements ( in any event) Banking items Delivery Channels Home managing an account Mobile telephone Internet ATM POS Branches thousand 10* thousand million get to focuses Telecommunication system Customer\'s sections Individuals Merchants SME\'s Industry Government World Bank/FSD/C G

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Phase I: Payment Instruments procedure : Paper => Electronic => Virtual a few (or more) paper exchanges Numbers Value thousand million Electronic satchel High esteem billion thousand Electronic Debit/Credit orders Cash Cards Checks World Bank/FSD/C G

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Phase I : Payment instruments Checks: an out of date item ? moderate or fast decay ( % of non trade exchanges out nb) World Bank/FSD/C G

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Phase I: Payment instruments Direct charge Direct charge: an irregular development ( % of non trade exchanges out nb) World Bank/FSD/C G

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Phase I: Payment instruments Debit card Debit card: a sh

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