SWIFT Universal confirmation

By the end of 2020, all SWIFT financial institutions will be mandated to send payments confirmations – why is this crucial and where are the benefits?

SWIFT are expanding the support for payments tracking and traceability by opening up the payment confirmations to all of SWIFT participants (a service previously only available for GPI banks).

In 2018, SWIFT made the first step in this direction by adding the Unique End-to-End Transaction Reference (UETR) to all payments.

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