SWIFT – Society for Worldwide Interbanking Financial Telecommunications

SWIFT is VPS’s major service provider for exchange of standardised financial messages. They provide the proprietary communications platform, products and services that allow our customers to connect and exchange financial information securely and reliably. We use SWIFT mainly to send and receive standardised messages related to our business.

SwiftDuring the spring and summer of 2015, VPS implemented a new solution for file transfers through the SWIFT network. The new solution, FileAct, allows you to collect many messages in one file, giving a unit price that is significantly lower than if you send them as single messages through SWIFT.

Each year SWIFT carries out upgrades and improvements to their products. Consequently, we need to make the changes at our end, too. Also this year, some of the VPS interfaces related to ISO 20022 messages will be changed as part of the annual global release schedule from SWIFT. The messages have already been made available for testing in our demo environment and will be launched in the production environment as of 22 November.

This year’s SWIFT release will include new versions of the following messages

  • Account details confirmation
  • End of day
  • Message rejection
  • Transfer out confirmation
  • Reversal of transfer out confirmation

All the changes are of a technical nature only, so there will be no changes to the commercial content this time. All our customers have been informed about the changes taking place in order to be able to adjust their systems accordingly.

SWIFT arranges its annual regional conference for the Nordics in Oslo on 8 and 9 March next year. The agenda for the conference will be published on SWIFT’s website and registration is opening early November.

 

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