A Quick Intro to Implementing the CGI PAIN.001 Format 5

Anybody that is implementing the PAIN.001 format needs to read this! Sometimes when you are looking to update or implement a new payments format it is difficult to know where to start. Add to this the different variety of payment formats, differing bank proprietary formats and requirements, country specific requirements, technical jargon, the squeeze on ...

Piyush Gupta on Growth, Decline & Disruption in Asia 3

Last week, it was all happening at Sibos in Singapore. One of THE most talked about and retweeted events at Sibos 2015 was the opening plenary by Piyush Gupta – the Chief Executive Officer (CEO) of DBS Bank. I wasn’t at Sibos, but the social media buzz around Piyush was such that I felt like I ...

The Top 20 Tweets from Sibos 2015 2

I wasn’t one of the 8200 Sibos attendees in Singapore this year, so I looked to various other channels to get my daily dose of SWIFT and Sibos news. By the sounds of things there were some really interesting panel discussions (particularly around blockchain) and insights into various disruptive technologies and consumer demands. Finextra and ...

Is the SWIFT 2020 Strategy Good Enough? 3

The other week SWIFT published a release titled Transforming the business of banking. The article gets views from some of the top SWIFT for corporate representatives and outlines how SWIFT aims to sign up more corporate customers and further develop its solutions for existing customers. These objectives are part of SWIFT’s overall SWIFT 2020 Strategy. Check out ...

The Difference between a SWIFT ACK and SWIFT NACK 17

Having explained the various SWIFT message types and the structure of a SWIFT message, one of the other big questions that corporates contend with is what is the difference between a SWIFT ACK (Acknowledgement) and SWIFT NACK or sometimes referred to as SWIFT NAK (Negative Acknowledgement). Let’s get straight into it… The Structure of SWIFT ...

The Structure Of A SWIFT Message, Explained! 25

If you’re looking at a SWIFT message for the first time, it can be a bit daunting. To the untrained eye the whole SWIFT message structure can look like gobbledygook. But actually, there is a bit of a method to the madness. Whether you are receiving, processing or constructing an MT101 or an MT940 message ...

SWIFT Message Types – Know Your MTs from your MXs… 11

The recent SWIFT related posts have been pretty popular, and many of you have contacted me asking for more detailed information about SWIFT message types. To get the full lowdown on SWIFT message types, you need to read SWIFT’s very own Standards Inventory Of Messages. Its 47 pages worth of SWIFT message types, nice bedtime ...

8 SWIFT for Corporates Insights by SWIFT 5

As you can probably tell, I’ve been on a bit of a SWIFT for Corporates mission recently. The posts I’ve Got 99 Problems But SWIFT Connectivity Ain’t 1 and 10 Reasons Why SWIFT Connectivity Is Not a Magic Bullet have been extremely popular. Having completed these posts, I thought it would be interesting to revisit the key ...

10 Reasons Why SWIFT Connectivity Is Not a Magic Bullet 4

This is the second of a 2 part post that covers the advantages and disadvantages of SWIFT connectivity. In the post I’ve Got 99 Problems But SWIFT Connectivity Ain’t 1, I cover all the advantages of SWIFT connectivity. But like any solution it is never straight forward and without its flaws. In this post I will highlight some ...

I’ve Got 99 Problems But SWIFT Connectivity Ain’t 1 6

This is the first of a two part post in which I will attempt to cover the most important things you need to know about SWIFT connectivity. Please note this is specifically with reference to SWIFT connectivity for corporates. In this post I will outline the key benefits of SWIFT, and in the coming days the ...