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Societe Generale improves the digital path of treasurers

05/12/2019

Michèle Cohas, head of the international payments offering, Elise Hoyet and Marilucia Miguel, product managers, at Societe Generale, explain how SWIFT MyStandards simplifies the implementation of payment messages.

In the life of a company, there are many occasions when it needs to carry out tests on its payment methods: international deployment, change of bank or market standards, etc. In such situations, the treasury teams must deal with a variety of message formats and pay-ment types, as well as multiple exchanges with their banks throughout the markets and countries in which they operate.
With MyStandards, an online platform developed by SWIFT in collaboration with the banks, Societe Generale seeks to improve this experience for its customers, by optimising the var-ious stages of testing and integration of payments.

A homogeneous and centralised documentation database... 

To avoid delays and payment incidents, the messages sent by the companies must take into account the specific details of each type of payment. To meet the needs of its business customers (SMEs, multinationals, large corporations), Societe Generale has made availa-ble on MyStandards its technical guidelines for ISO 20022 standards for the countries it covers and for the different payment types used. Customers can also obtain immediate, centralised access to international standards on payment messages.

... and a personalised testing portal 

Once the technical guidelines have been selected, the payment messages can be tested on the testing portal, “MyStandards Readiness Portal”. To facilitate and speed up the inte-gration process, Societe Generale has tasked its dedicated support team with personalising its customer portals. Therefore, once a customer has defined their specific needs, this team will create a tailored testing portal within 24 hours. It also acts as a contact point for any questions the customer may have. With the personalised portal, the customer obtains access only to the documentation they require, thus making it easier to browse on the plat-form.
Societe Generale also proposes demonstration videos in French and English to enable a better understanding of the tests on MyStandards.

More autonomous, quicker and more efficient 

By combining detailed documentation and a personalised testing portal, Societe Generale is optimising the digital path of company treasurers in more ways than one. Firstly, it offers increased autonomy since the platform is accessible online 24/7 everywhere in the world. Customers can therefore organise and plan their testing at their own pace, in accordance with their needs and constraints. The test results are obtained instantly and detected errors can be corrected online. Finally, all of the specific aspects added by Societe Generale means that customers can test the structure of the files and nearly 80% of their content.

Among our wide range of Cash Management Solutions, MyStandards offers autonomy, time-saving and efficiency, and thus helps to simplify the treasurer's digital path.

 

Xavier Aublet, Head of Cash Management and Back Office & Nathalie Barrois, IS Project Manager, VINCI Group Treasury
Because of our operations worldwide, our payment files are constantly undergoing tests. We were looking for a solution that would give us complete autonomy, particularly concern-ing the specific aspects of payment in roubles. Our Societe Generale cash management officer then presented us the MyStandards platform. He carried out a demonstration using our files and corrected certain errors directly on line to make them compatible with our activity in Russia. All in approximately one hour! We were won over by the efficiency of MyStandards and implemented it the same day.