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 enhances Sanctions Testing service with new performance measurement capabilities
New Peer Assessment service helps financial institutions compare the performance of their sanctions filters against those of similar institutions.
Payment Service Directive 2 (PSD2) - Strong Customer Authentication
On 23 December 2015, the European Union published the second Payment Service Directive (PSD2) in their Official Journal. If all goes according to plan, this EU Directive will be transposed into national legislation and become fully applicable by early 2018.
Swift to launch new hosted Name Screening service
The new service will enhance compliance efforts for financial institutions and corporates through fast and accurate name screening against a variety of lists, including regulatory agencies, Dow Jones data and proprietary lists maintained by firms.
Swift broadens, deepens its financial crime compliance services portfolio
Utility services help banks address regulatory change and evolving needs throughout the correspondent banking relationship lifecycle.
New Payment Pre-validation service eliminates frictions in international payments
The new service enables real-time payment validation to reduce errors, exceptions and costs caused by wrong or missing beneficiary information, and supports our strategy for instant and frictionless transactions.
More Financial Institutions can now offer services to Corporates over Swift
Following Board approval in December 2015, the Annual General Meeting of shareholders (AGM) in June approved the resolution for extending SCORE eligibility of Financial Institutions. Now, any Swift User in the user category “Supervised Financial Institution” can join SCORE and offer messaging services to their corporate customers over Swift.
Citi leverages Swift GPI to launch innovative payment insights service
Citi® Payment Insights service leverages Citi’s gpi capability to provide its institutional clients with complete visibility over the transaction lifecycle
Data: leading the revolution in securities services
New technologies and the role of data explored in part one of our three-part series on the key takeaways from the securities stream at Sibos 2019.
Central Cooperative Bank the first Bulgarian bank to sign up for Swift’s global payments innovation service
Central Cooperative Bank, one of the largest banks in Bulgaria, will implement Swift’s gpi service
Swift and Accenture outline path to Distributed Ledger Technology adoption within financial services
New paper analyses the opportunities and challenges of distributed ledger technology in financial services; identifies key factors for success