Migration from SWIFT Message Type (MT) 100 to MT 103 was completed on 15 November. The changeover is designed to increase automation and transparency for Single Customer Credit Transfers. The two messages have operated in parallel over the past three years but, as of 16 November 2003, only the MT 103 is accepted on the SWIFT network. Responding to customer requirements to improve credit transfer messages and increase transparency in cross-border payments, SWIFT introduced MT 103 to replace its most widely used message, MT 100, which had reached its technical capacity. The new MT 103 fields require precise completion enabling stricter validation, resulting in increased end-to-end automation and thus improving STP rates and reducing message repair costs.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more