Positive response from IBAS User Bank attendees at 2024 event in Oslo.

CBA hosted the IBAS user banks in Oslo on 14 May for the annual IBAS User Group (IUG) meeting. The event featured a range of presentations updating participants on the IBAS GBF - Global Banking Factory, as well as general developments in the market, including a focus on real-time payments presented by EBA Clearing.

Rolf Hauge, CEO at CBA, kicked off the day with an overview of updates delivered across all IBAS GBF products and a look forward to what’s coming. As well as readiness for SWIFT Release 2024 in the Autumn and preparations for SWIFT’s releases in 2025 and 2026, CBA is also adding to existing functionality within IBAS to cater for phase 2 of ISO 20022 CBPR+, as well as new requirements for SEPA Payments, Swift GPI and Swift Go. In parallel, CBA is continuing to add more features to the IBAS customer front-end system as well as additional RESTful Services and Open APIs.

Frans Westdorp, IUG Board Member and Chairman, commented that: “All updates were well received by the IBAS User Banks. One of the key benefits of the event is that it facilitates networking and relationship building for IBAS User Banks, as well as the opportunity to discuss trends and challenges and provide input to the future product roadmap.”

Deeper dives followed into some of the new functionality available within both the IBAS Global Payments Factory and IBAS Global Trade Finance Factory. This included a joint presentation by ABN AMRO and CBA showcasing the new IBAS TDD - Transaction Due Diligence System. This flexible and advanced system will be used by ABN AMRO’s trade finance business to meet and automate their regulatory requirements regarding anti-money laundering, sanction screening, audit and compliance.

During the afternoon the meeting broke into three separate workstreams focused on Trade Finance, Payments and the Technical aspects of using IBAS GBF, allowing for more detailed discussions between users in each of these areas.

About the IBAS User Group
The IBAS User Group (IUG) is an independent organisation jointly owned by CBA and the IBAS User Banks. The annual IUG Meeting is an international event which circulates around member countries.