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SWIFT 2020 - Universal Payment Confirmations (Doc ID 2710483.1)

Last updated on JUNE 21, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.3 and later
Information in this document applies to any platform.

Goal

In MT Standards release 2020, it will be mandatory to provide a "confirmation" on the outcome of a customer payment (MT 103) to the Tracker (TRCKCHZZ) when funds got credited to the account of the beneficiary customer or when the payment was rejected. A confirmation is expected within maximum 2 business days following the payments’ value date.
MT 199 format is used for confirmations. These functionality must be in place even though SWIFT changes were not activated into system. Confirmation messages are not being generated when IN contracts are finalized into customers' accounts.
 

Solution

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In this Document
Goal
Solution
References


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