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Agenda
3
• Overview/Context• CITAD(IBPS)• NAPASreal-timeinterbanktransfersystems• Relatedsystems• Improvementideas• Conclusion
Overview/Context
5Source:SBV.GOV.VN
q StateBankcentralroleandmonopolyq Complicatedandfragmented1. IBPS/CITAD2.NAPASInstantFundTransfer• ToCardCenter• ToAccountinotherbanks3.SWIFT(forothercurrencyandforeigntransfer)
4.DebitCardswitchsystems
Overview & Context
6
Waystomovemoneyfromanaccount
BranchWithdraw
nTransfers
InternalTransfe
rDomesticTransfer
International
Transfer
CardSystem
POSATM
Withdrawn
BillPayment
UtilitiesE-
commerce
Topup
Transfer from you account to other bank
7
SendingBank
Account
StateBank• IBPS(CITAD)• NAPASIBFT
ReceivingBankAccount/Card
Card Spending, Withdrawn
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Acquirer AcquiringBank
NAPASCardSwitch
IssuingBank
Account
REQUESTFORAPPROVAL(Card/PIN/Token)
E-Commerce Payment
10
E-Commerce
Sites
TheirBank
E-comPaymentGateway
NAPASPaymentGateway
YourBank
You
REQUESTFORAUTHENTICATIONOFABUY
Receive+provideOTP/Auth token
GetOTP/Auth Verified
Bill Payment & Topup
11
Vendor VendorBank
NAPASBillPay
Sub-BillPay
YourBank
You
GetBills (CUSTOMERID)
PayBill/Topup
IBPS/CITAD system overview
13Source:IBPSpackage onSBV.GOV.VN
• RCP:RegionalPaymentCenter
• NHNN:StateBank
IBPS/CITAD
14Source:SBV.GOV.VN
• HVSSforhigh-value(500M),immediatetransfer• LVSS<500M,cut-off-time• SpecialfieldsforTaxcollectionssupport
IBPS/CITAD Fund Transfer Process
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• Manualinputandapprovalprocess• NotintegratedwithCoreBanks*• SupportCreditandDebittransfer,butDebittransferiscumbersomeandcannotapplywide
Source:IBPSpackage onSBV.GOV.VN
IBPS – Min inputs required
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•AccountNumber•AccountHolderName*•ReceivingBank•ReceivingBranchCODE*•TransactionDescription
NAPAS (Smartlink/BanknetVN) IBFT
20Source:SBV.GOV.VN
NAPASIBFT
EnquiryName
BankAccount Card#
Transfer
ToBankAcc
ToCard#
Reconcile
Batch AdHoc
Smartlink Sample API ISO8583 request
21Source:SBV.GOV.VN
<fieldid="0"value=“xxxx"/><fieldid="2"value="9704xxxxxxxxxxxxxxxxxxxx"/><fieldid="3"value=“xxxxxx"/><fieldid="4"value="000000000000"/><fieldid="7"value=“xxxxxxxxx"/><fieldid="11"value=“xxxxx"/>…..
Smartlink reconciliation and error handling
22Source:SBV.GOV.VN
ü Timeout/errorhandlingü Dailyreconciliation:• SMLsentalistoftransactionsduringlast
period• Bankscompareandfeedbackü Timeout/errorhandlingü Eachtransactioncanhas3states:S/F/UnK
Other systems used in VN
24Source:SBV.GOV.VN
ü SWIFTü SWIFTcode• Usingforforeigncurrencytransfer• Usingforsendingmoneytoothercountries
ü SongBiên:• Directpropertyinterfacesdefinedbetweenbigbanks
• VCBMoney• NOSTRO/VOSTROaccounts
Other countries
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ü Target2Realtime (RTGS)system• Thetransactionisclearedrightawayü SEPAPaneuropan system• SEPACreditTransfer• SEPADirectDebit• SEPACardü ACH(USA)AutomatedClearingHouse• E-Checkprocessing,3daystoclear(batch)
Startup / New systems
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ü TransferWise…ü Paypal/Alipayü Bankplus/Momo paymenttophonenumberorWallet
ü …
Ideas
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ü IBPS(CITAD)pronetoerror,hardtoimprove=>Automation,Information,removetheneedforBranchID
ü Napas IBFTwillbebetter=>Businessplanbasedoncheapandfasttransfer
ü ForeignCurrencyTransferandIncomingMoneyFlow
Conclusion
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ü Problem:Banksystemsarecomplicatedandbasedonagedtechnology,model
ü EveryProblemisanOpportunity
