SWIFT gpi newsflash Exclusively for gpi Application Providers - July edition
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July edition SWIFT gpi newsflash Exclusively for gpi Application Providers [Type here]
Content Services and initiatives dashboard ......................................................................................................... 3 Universal gpi adoption............................................................................................................................. 4 New joiners ......................................................................................................................................................... 4 Live services - Facts and figures ......................................................................................................................... 4 Universal confirmations ....................................................................................................................................... 4 Portfolio evolution .................................................................................................................................... 6 Case resolution – live now! ................................................................................................................................. 6 gpi for Corporates – highlights of the working group ........................................................................................... 6 Pre-validation - Community keeps growing and SWIFT brings more services to market! ................................... 7 Key Operational News ............................................................................................................................ 8 Standards Release 2020 - T&T Tracker in Future Mode ..................................................................................... 8 gpi Tracker - processing out of order payment events ........................................................................................ 8 Universal Confirmations for non-gpi BICs ........................................................................................................... 9 Network NACK in case of UETR reuse ............................................................................................................... 9 Network NACK in case of not applying correct STI ............................................................................................. 9 gpi Directory - New data entries for gpi optional services ................................................................................. 10 gpi API release – providing further enhancements............................................................................................ 11 Member engagement and communications .......................................................................................... 11 New inbound tracking article on swift.com – Check it out! ................................................................................ 11 Application provider engagement and communications ....................................................................... 12 It is time to submit the self-attestation for Universal Confirmations ................................................................... 12 For gpi Application Providers only – Do not distribute without SWIFT prior consent 2
Services and initiatives dashboard
Services Status
Services for financial institutions
Customer credit transfers LIVE
Cover payments LIVE
LIVE (Use case 1)
gpi instant payments
PILOT (Use case 2)
LIVE (service v1 – Tracking only)
Financial institution transfers
PILOT (service v2 with SLA/Rulebook)
Services for corporates
Pay and trace LIVE
Inbound tracking CONTROLLED LIVE
Corporate-to-bank APIs IN DESIGN
Services to reduce friction
Stop and recall LIVE
CONTROLLED LIVE (Beneficiary account
Pre-validation verification)
IN DEVELOPMENT (Payment validation)
Case resolution LIVE
Universal Confirmations program
Basic Tracker LIVE
Batch confirmations LIVE
gpi and ISO 20022 program COMMUNITY VALIDATION ONGOING
For gpi Application Providers only – Do not distribute without SWIFT prior consent 3Universal gpi adoption New joiners 4,120 financial institutions have now signed up to SWIFT gpi. New joiners since our last newsflash include Al Inma Bank, Banco Continental SAECA, Banco de Mocambique, Banco Interamericano de Finanzas, Banco Nacional de Costa Rica, Daegu Bank, Islamic Development Bank, Joint Stock Commercial Bank Concord, One Bank Limited, Skrill Limited, The Joyo Bank Limited, United Commercial Bank Limited, VP Bank. To see the full list of gpi members, check out our member section on swift.com/gpi. Live services - Facts and figures More than 1000 gpi members are live today with gpi customer credit transfers, covering 150 of the world’s 180 currencies. Daily more than one million cross-border payments, worth some $300 bn across 2,170+ country corridors are sent over gpi. Since our last Newsletter in May the following gpi members have gone live: Armswissbank CJSC, Ascendantfx Capital USA, INC., Bank of Chongqing, Bank of Jerusalem LTD. Tel-Aviv, Credit Libanais S.A.L., Huntington National Bank, Iccrea Banca – Instituto Centrale Del Credito Cooperativo, Primsotsbank, Public Bank Berhad, Sharjah Islamic Bank, Ubi Banca S.P.A., Vakif Katilim Bankasi A.S, Banco Atlantico Europe, Banco Ourinvest S.A, Bank of Beirut S.A.L., Banque Cantonale Vaudoise, Banque El Amana (BEA), Chang’An Bank Co., LTD, Fidelity Bank Limited, Hong Leong Bank Berhad, NMB Bank LTD, Revolut LTD, Southeast Asia Commercial Joint Stock Bank, Xiamen Bank CO., LTD. 690+ gpi members are now actively using our gpi cover payments service resulting in 70% of all SWIFT cover payments sent as gpi on a daily basis. With respect to the gpi stop and recall service, over 180 gpi members are successfully sending stop and recall requests to the Tracker. Universal confirmations The obligation to implement Universal confirmations is now less than four months away. Your clients only have until 22 November 2020 to provide confirmation to the Tracker on the outcome for all their incoming MT 103 payment instructions. (see Universal Confirmations Frequently Asked Questions). As a reminder, there are various methods to help your clients meet the requirement, including the free Basic Tracker tool, as well as automated solutions using MT 199, API, or CSV formats. Point your clients to the Getting Started Guide on the Universal For gpi Application Providers only – Do not distribute without SWIFT prior consent 4
Confirmations mySWIFTpage or share the link to join one of our webinars where our product experts will share more on the Basic Tracker, with detailed explanations on Universal Confirmations Score measurement, or on the four easy ways to automate payment confirmations. While Universal Confirmations remain mandatory for November 2020, the visibility on compliance to counterparties is deferred by six months (starting 1 June 2021). See section 1.1 in the Universal Confirmations FAQ for more information. Action for the application providers Inform your clients that they need to install and activate the Universal Confirmations functionality in your application and start testing the payment confirmation ahead of the November 2020 deadline. For gpi Application Providers only – Do not distribute without SWIFT prior consent 5
Portfolio evolution
Case resolution – live now!
The gpi case resolution service, which solves cross-border payment enquiries and
investigations faster and easier, is now live!
Today gpi members who sign up to the case resolution service can benefit from:
• Improved transparency: Via the gpi Tracker, you can follow payment investigation
requests anywhere.
• Shorter resolution time: You can smartly route enquiry requests using the Tracker
and ensure timely follow up backed by SLAs and a rulebook.
• Reduced manual intervention: Using structured codes in the enquiry exchanges
standardises communications. It reduces duplicate inquiries on the same payment
and facilitates enquiries’ process automation by case software solutions.
Case resolution has a continuously growing community of 72 financial institutions
and six application providers. And its adoption also includes the country-wide
community of 60 financial institutions in Japan who will be leveraging the new front-
end GUI for case resolution.
Although the service today is only initially available to gpi members, we intend to
bring the benefits of smooth and frictionless payment investigations to the entire
SWIFT community.
To read more on case resolution’s success story, check out the recently published
article on swift.com.
gpi for Corporates – highlights of the working group
The gpi for Corporates working group has virtually gathered to share and validate the
developments of the portfolio.
The key highlights and outcomes of the session were the following:
• Inbound tracking is full speed ahead, with more than 10 subscriptions for the
early adopter’s program and preparing for general availability in October
2020.
• The gpi for Corporates directory will feature new enhancements such as
increasing visibility on the participant’s capabilities and improving the user
experience.
- gpi for Corporates will leverage the new trck.004 ISO message to ease the
implementation of the pay and trace service for banks.
- The working group has endorsed the initiative to standardise the corporate-
to-bank API space for multi-banked corporates and provide any gpi for
For gpi Application Providers only – Do not distribute without SWIFT prior consent 6Corporates bank with the capability to offer an API channel to their
corporates.
- gpi for Corporates labelling program will be implemented to provide better
visibility, trust and fairness on vendor capabilities. Besides this programme,
SWIFT will support application providers to ease the integration of the service
in their application and test it upfront.
For further information on the development of the gpi for Corporates portfolio, refer
below to the special interest webinar recording from this session.
Pre-validation - Community keeps growing and SWIFT brings more
services to market!
Earlier this year, the first pre-validation service – Beneficiary Account Verification
– moved to the controlled live phase. We are in the process of on boarding early
adopters’ banks into the live service and are happy to have already welcomed
Garanti Bank on the live service. More will be added as pre-validation banks
complete their API implementation journey.
Next to the Beneficiary Account Verification service, which allows initiating banks to
validate the beneficiary account existence directly with the beneficiary bank through
an API call, SWIFT continues developing two further services – Payment Validation
and Fee Prediction.
Payment Validation aims to provide financial institutions with relevant ‘static checks’
to benefit from error-free payment instructions. This service will offer normalised
access to international guides as well as payments data validators and provide data
quality improvements. SWIFT has developed a prototype and is aiming to kick off the
pilot service consumption activities by year-end.
Fee prediction aims at offering initiating banks the ability to enquire the end-to-end
charges before sending a cross-border payment. This will allow banks to provide full
transparency to end customers. SWIFT held the first working group session in July
where working group banks initiated discussions of the service design phase.
Since the launch of the pre-validation programme in 2019, the community has grown
to 37 banks. Your clients can still sign up to the growing early adopters community
here!
Should you have any questions or want additional information on the programme,
don’t hesitate to contact swiftforproviders@swift.com.
For gpi Application Providers only – Do not distribute without SWIFT prior consent 7Key Operational News
Standards Release 2020 - T&T Tracker in Future Mode
Standards Release 2020 has been introduced to the Tracker in T&T on 25 July 2020
and will be live on 22 November 2020.
Please note that the grace period for the optional Standards Release 2019
specifications has been extended until 2021, as such SR2019/SR2020 specifications
are not made mandatory until November 2021.
Furthermore:
• In order to receive Tracker to User messages, a logical terminal (LT) must be
in future mode
• If an LT is in current mode, messages sent in SR2020 format will be NAKed
• The format of Tracker to User messages customers will receive, is still
determined by the setting introduced to the Tracker GUI with SR2019 (see
below)
How can your clients declare themselves SR2019/SR2020 ready within the
Tracker GUI
The “Standards Release compatibility settings” in the Tracker GUI will offer the
opportunity to your client, as a gpi agent, to declare per BIC8 in their scope, that they
are ready to receive Tracker-to-User MT confirmation messages in SR 2019/2020
format for the existing services gpi customer credit transfer (Inst), gpi cover
payments, gpi stop and recall and gpi financial institution transfers. By default the
setting will be deactivated.
Please note that the Tracker GUI setting is only applicable to Tracker-to-User
formatting.
gpi Tracker - processing out of order payment events
In light of this release for the gpi Tracker deployed on July 4th, we wanted to remind
you that this enhancement includes re-processing and re-ordering of payment events
in case status updates are sent out of sequence.
With this enhancement, the gpi Tracker will now keep a record of potentially invalid
events in a transaction, and then re-validate them according to logical business
context. This will bring the benefit of fewer invalid events for customers currently
facing such timing issues and allow the Tracker to provide a more complete picture
of what has happened over the course of a transaction. Along with this processing
logic, API responses will be modified to return payment events in logical business
order, rather than sorted by timestamp as is the case today. There is no change to
the API syntax specification related to this enhancement.
For gpi Application Providers only – Do not distribute without SWIFT prior consent 8Universal Confirmations for non-gpi BICs
The July release of Alliance Access and Alliance Entry adds a new channel to
confirm inbound payments: a CSV file is sent to the Alliance interface containing
payment confirmations, which are automatically converted to MT 199 and sent to the
Tracker. Generating CSV data is a built-in feature for most payment systems and
your clients can leverage this functionality to implement automated confirmations to
the Tracker and reduce manual work in the Basic Tracker. This approach is also a
stop-gap solution, in the event that your clients cannot complete the gpi
implementation of some BICs by November 2020.
This option is explained in our webinar four easy ways to automate payment
confirmations. You can also read more in the Knowledge Base.
Network NACK in case of UETR reuse
In order to assist the gpi community with the incorrect UETR re-usage, FIN will check
every message with same 1) MT (only MT 103), 2) UETR and 3) Sender BIC 11.
This feature was implemented on the release of the 25th of July in blocking mode
(NACK under below conditions) in T&T environment and in warning mode (no
NACK at all) in Live environment.
The verifications will be performed based on the followings:
• FIN ACK:
o If amount in 32A (Value Date/Currency/Amount) is the same, or
o If amount in 32A is lower and a return, by checking
/RETN/ or /REJT/ is in field 72
Receiver BIC has been Sender
The UETR is part of the "Tracking of returns" list feed by the
Tracker to FIN [Only active as of the 8th of August]
• FIN NACK (in T&T only):
o If amount in 32A is higher
o If amount in 32A is lower and not a return
Please note that SWIFT will not NACK messages that incorrectly re-use UETR in live
environment nor enforce this measure until later date.
Network NACK in case of not applying correct STI
Today FIN manages the application of STI based on Message User Groups (MUGs).
Therefore, if there is an MT 103, MT 103 STP, MT 103 REMIT, MT 202 COV, MT
205 COV, MT 202, MT 205 or MT n9n then the user header (block 3) can have an
STI (F111). In this release, if an STI is applied for other message types then Nacked
by FIN.
Additionally, a validation of STI (field 111) will be made versus gpi service on FIN:
For gpi Application Providers only – Do not distribute without SWIFT prior consent 9• For MT 103, MT 103 STP and MT 103 REMIT if F111 is present then it must
be either ‘001’ or ‘005’, else Nacked by FIN
• For MT 202 COV and MT 205 COV if F111 is present then it must be ‘001’,
else Nacked by FIN
• For MT 202 and MT 205 if F111 is present then it must be ‘004’, else Nacked
by FIN
• For MT 199 if F111 is present then it must be either ‘001’, ‘002’, ‘003’, ‘005’,
‘006’ or '007', else Nacked by FIN
• For MT 196 if F111 is present then it must be ‘002’, else Nacked by FIN
• For MT 192 if F111 is present then it must be ‘002’, else Nacked by FIN
• For MT 299 if F111 is present then it must be either ‘001’, ‘004’ or ‘006’, else
Nacked by FIN
Please note that this enhancement will be implemented in T&T environment but only
in a warning mode in Live environment.
However, SWIFT will not NACK messages that aren't complying to the above points
in Live environment before November 2021.
As a reminder, you can keep track of those update items in this Knowledge Base tip.
gpi Directory - New data entries for gpi optional services
Today, the gpi Directory only contains records associated to gpi Customer Credit
Transfer (Service ID 001).
Therefore we will enhance the gpi Directory and as from the 27 Nov 2020, it will
contain records related to other gpi optional services:
• Service ID 004 - gpi Financial Institution Transfer service
• Service ID 005 - gpi Instant Payments service
• Service ID 006 - gpi Case Resolution service
These changes are not applied directly to the gpi Directory to allow gpi members
adapt their system in case it is not taken into account that the Service ID field can
contain other values than "001".
Prior to Nov 2020, records created by gpi members under Service ID 004, 005, or
006 will be visible in the temporary gpi Services Directory.
The gpi Services Directory and gpi Services Directory Structure files already give a
preview of these coming changes to the gpi Directory in November.
If you would like more information on technical details please refer to the SWIFTRef
Release Letter. For gpi optional services please refer to the gpi Service description
here.
Furthermore, the gpi Directory Technical Specifications has been updated on 31 Jul
2020 to reflect those changes and can be seen through the following link.
For gpi Application Providers only – Do not distribute without SWIFT prior consent 10Refer to: https://www2.swift.com/knowledgecentre/products/SWIFT%20gpi > Directory > Technical Specifications gpi API release – providing further enhancements The gpi API release (v4) will provide further API enhancements for interactions with the gpi Tracker as well as newly added transaction management features and support for gpi financial institution transfers. API v4 is available in T&T and will go live in November 2020. Updating Tracker transaction status via API In gpi API v3 we announced support of the tracking only functionality for financial institution transfers. The gpi API v3 made it possible to get the status of financial institution transfer transactions from the gpi Tracker. Newly announced and available in gpi API v4, is the support for gpi financial institution transfers (with SLA), enabling real-time API status updates to the gpi Tracker for financial institution transfer transactions. This capability further enhances the transaction tracking management process. Other improvements in API v4 In recent years, we’ve invested into developing the new generation of API connectivity options for our users: the SWIFT SDK and SWIFT Microgateway. These solutions offer customers the flexibility and cost-effective access to the APIs over SWIFT. API v4 is fully compatible with SWIFT SDK and SWIFT Microgateway. The flattening of some of the data models to simplify their structure has resulted in easier API consumption, because code generated from the API spec is around 40% smaller than v3. Transaction status updates and cancellations are now also simpler to implement with the removal of unnecessary API responses. Further details are available at developer.swift.com Member engagement and communications New inbound tracking article on swift.com – Check it out! After a successful pilot phase with 25 banks, corporates and application providers, who co-designed the gpi inbound tracking service with SWIFT, the service’s early adopters phase is ongoing. The inbound tracking service is planned to go live by October 2020 and will provide its users with visibility on funds, proof that payment was sent, enhanced liquidity management and cash forecasting. For gpi Application Providers only – Do not distribute without SWIFT prior consent 11
To find out more on how your customers can benefit from inbound payments tracking today and to read more on what corporates have to say about it, check out this new article on swift.com. Application provider engagement and communications It is time to submit the self-attestation for Universal Confirmations With the Universal Confirmation self-attestation program, SWIFT is making public on swift.com the payment application providers who are committed to making the Universal Confirmations community mandate in 2020 a success. So far, 20 applications have shared their commitment, and information can be accessed here. Further details can also be found along with the self-attestation template here. If you as an application provider committed to support universal payment confirmations as per the requirements, feel free to send an email to swiftforproviders@swift.com. For gpi Application Providers only – Do not distribute without SWIFT prior consent 12
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