service administrator destination
A valid Swift eight-character BIC that Swift assigns to the service administrator. The service administrator destination is used in digital signatures. The service administrator destination can be the same as the primary server destination.
service administrator related participant (SARP)
A Swift user that belongs to the same financial institution as the service administrator. To be considered as part of the same financial institution, Swift must register the service administrator related participant and the service administrator as belonging to the same group of customers for traffic aggregation purposes.
Swift launches Islamic Finance Rulebook for international roll-out and adoption
Hong Kong, 18 June 2015 – Swift, in collaboration with The Association of Islamic Banking Institutions Malaysia (AIBIM) announce the launch of a new rulebook for the purpose of promoting message standards in the Islamic banking and finance market.
Latest news about MT Category 7 enhancements
Since making changes based on individual CRs was not cost effective, it was preferred to combine them and make them available to the Swift Community in one to two years.
Working with Visa to break down barriers in cross-border payments
We’re teaming up with Visa to enhance the transparency, speed and security of global B2B money movement.
Singapore overtakes London as top RMB offshore clearing centre after Hong Kong
Brussels, 28 April 2014 - Swift data shows that Singapore's RMB payments value increased by 375% between March 2013 and March 2014, making Singapore number one in terms of RMB world payments value, excluding China and Hong Kong. Singapore's weight represents 6.8% of the overall RMB payments value, second behind Hong Kong, which still leads with 72.4%. London overtook Singapore in June 2012, but, since February 2014, it has slipped behind Singapore despite a good growth rate of 203% year-over…
Nigeria’s RTGS goes live on Swift
Johannesburg, 17 February 2014 - The Central Bank of Nigeria's high value payment system has gone live on Swift. The move to Swift is a key element of the Central Bank of Nigeria's Payment System Vision 2020 (PSV2020), which calls for a "Nationally Utilised and Internationally Recognised" payments system and provides a robust platform to support Nigeria's continued economic growth.
ISO 20022 in focus with Citi
As an early adopter of the ISO standard, Citi has been a collaborative innovator across its network of internal personnel, governing bodies and corporate clients since 2012.
Reinforcing the chain
FATF Recommendation 16 highlights the end-to-end data quality challenge of financial crime compliance
J.P. Morgan and HSBC use The KYC Registry to streamline processes and improve customer experience
Sharing data to collectively improve consistency, efficiency and speed of KYC processes
Swift and the Canadian Payments Association examine Canada’s adoption of ISO 20022
New paper from Swift and the Canadian Payments Association highlights the importance of renewed messaging standards for Extended Remittance Information in the region
CGI reduces costs for corporates and banks
Brussels, 16 October 2012 - The Common Global Implementation initiative (CGI) announced today that it has published best practice guidelines for corporate-to-bank communication based on ISO20022 messages. Codifying and promoting the use of common formats in the corporate-to-bank payments space will help reduce costs and simplify implementation processes for corporates that are managing multiple bank relationships.