Hungarian Payment System GIRO, Hungarian Automated Clearing House

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Hungarian Payment SystemGIRO, Hungarian
Automated Clearing House
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Agenda

• Hungarian Payment Setup
• GIRO Ltd. The ACH
• STEP2
• Other services (GIRinfO, BISz)
• Future Challenges

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Hungarian Payment System

• Role of Central Bank
• - Responsible for pmt. system
• - Supervising activities
• RTGS - VIBER
• Security Settlement KELER
• ACH GIRO Ltd.
• Bank cards

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GIRO Ltd Hungarian ACH

• Short History
• Organizational set-up
• Clearing Members
• Payment Products and Volumes
• Mail services
• Technical Arrangement

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Clearing participants

• Direct Participant 57
• Indirect Participant 200
• Treasury Institutions gt700

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Technical Arrangement

• Network
• Help Desk
• Multi Level Security
• GIRO Room
• 4 hr. error fixing
• Tr. fee incl. all cost
• redundant
• Backup
• Backup sites
• 2 sets of lines
• BCP
• Fault Management System
• HP open view

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STEP2 Hungarian Solution

• International examples
• Hungarian Central Banks role
• GIRO Technical facilitator
• Banks need
• Time schedule

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ACH as Outsource Bureau I.

• ACHs are ideal for being an outsource bureau
• Accumulated corporate culture
• Highly secure IT infrastructure
• Qualified staff
• Standardized environment
• Stable ownership structure
• Reliable prudent operation

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ACH as Outsource Bureau II.

• Product can be outsourced if meets
• Scale efficiency
• Neutrality in competition
• Manageable risk/security
• Prudent/Standardized

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ACH as Outsource Bureau III. Possible products

• Data base services
• PKI
• Back-up / Archiving
• Catastrophe place
• EBPP technical facilitator
• STEP2 technical assistant
• All kind of product that meets with the 4
  criteria

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ACH as Outsource Bureau IV.GIROs Current
products

• GIRINFO database services
• Credit Bureau
• PKI

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Future Challenges I.Local

• Role of Central Bank
• Payment system supervisor
• STEP2 provider?
• RTGS system provider
• EU EURO challenge
• Local payment forum committees
• (encouraging electronic payments reduce
  cash)
• - Direct Debit - authorization, OCR, Education,
• cooperation with utility companies
• Temporary dual currency system change

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Future Challenges II.Local

• Redesign of the clearing system
• IT development (hardware/software/communication
  )
• Multi currency system
• Adaptation of 10 Core Principals
• Intra-day, multiple clearing cycles
• Modified, modernized principals (queuing)
• Modernization of direct debit system
• etc.

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Future Challenges III.International

• Role of Central Banks - ECB
• EACHs dilemmas
• Big local market very small, but growing
  international
• Scale efficiency in IT competition
• Rigid standards trend for harmonization (XML)
• Question of progress
• EBA ECB EPC
• Go alone or cooperation with other ACHs
• Local-Bilateral-Regional cooperation
• Slow or Fast changes?

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Thank you for your attention!

• Peter Legeza
  GIRO Rt.
• Budapest, Vadász u. 31.
• Hungary, 1054
  
• Tel. [phone]
• www.giro.hu