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Closed User Group (CUG)

A subset of customers that have been grouped to use certain Swift services and products in a defined context (typically, the participation of customers in a market infrastructure, a Member-Administered Closed User Group, or a solution). Either Swift or a service administrator defines the eligibility criteria and participation in the Closed User Group.

Market Infrastructure Closed User Group (MI-CUG)

A Closed User Group implemented in support of a service managed by a market infrastructure (MI).

Member-Administered Closed User Group (MA-CUG)

Member-Administered Closed User Group. A Swift-operated, member-managed service that uses messaging service. The Member-Administered Closed User Group is designed to enable users that participate in the Closed User Group to exchange Swift messages bilaterally with the service administrator, or with the administrator-related participant.

Related links
Subscribe to MA-CUG service (www.swift.com)
MA-CUG Service Description

Swift Go sign-ups triple as cooperative makes significant progress on G20 goals to enhance cross-border experience

News
More than 500 banks in 120 countries have signed up to enable fast, transparent low value payments using Swift Go Strong adoption increases momentum towards G20 goals of better speed, cost, transparency, choice and access in cross-border transactions Represents one of many Swift innovations in 2022 as cooperative records 13th consecutive year of traffic growth

Visa and Swift team up to enhance transparency, speed and security in global B2B money movement

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Visa and Swift today announced a collaboration to streamline international business-to-business (B2B) payments by strengthening connectivity between their networks that move trillions in value globally.

Banks, vendors and professional services providers stand with Swift to support Innotribe’s 2015 Startup Challenge

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Brussels, 10 March 2015 - Innotribe announces Wells Fargo, Luxembourg for Finance, Level39, Invest Northern Ireland and HP as event sponsors for the 2015 Startup Challenge.

Swift GPI: The biggest thing to happen to correspondent banking in 30 years

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Over 300 representatives from banks, corporates, market infrastructures (MIs) and the press gather around the world to mark the successful delivery and fast-growing reach of Swift GPI

Cybersecurity and Fraud Detection in the COVID-19 Age

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With work practices transformed by the COVID-19 pandemic, the finance industry has an urgent need to address the associated rise in cyber vulnerabilities. At a recent Swift webinar, industry experts from Wells Fargo, Kaspersky, and BAE Systems explored the need for organisations to turn towards technology, cooperation, and build a cyber-aware internal culture to manage and defend against institutional payments fraud in the new normal.

Re-assessing the risks

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Serving low-risk clients in high-risk markets is made harder by financial crime compliance obligations, but not impossible

Banco Bradesco joins Swift's global payments innovation service

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Through Swift GPI, Bradesco will increase the speed, transparency and traceability of cross-border payments

Public Responses

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We analyse and respond to legal and regulatory public participatory initiatives. Our recent responses are listed below

Hello Paisa, The Sun Exchange, and WeCashUp win the 2016 Innotribe Startup Challenge for Africa

News
African startups win a 10,000 USD prize each and a chance to share their insights about innovation in Africa with FinTech experts from around the world

Evolutions in cross-border payments

News
The cross-border payments landscape is undergoing a rapid change as it transforms to become ever more efficient, transparent, and customer focused. Experts from HSBC and Swift explain the latest evolutions.
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