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Dear Lucas,

As you are aware, in November 2022, Universal Confirmations became mandatory to align with the financial industry’s goals for more transparent cross-border payments. Universal Confirmations require all Swift users in the SUPE and PSPA categories to confirm the outcome of Customer Credit Transfers (MT103, pacs.008, including multiformat messages) within two business days.


We’re committed to driving continuous improvement to meet the industry’s demands for faster, more transparent transactions. As a result, we’ll be working closely with our community in the coming months to maintain already high Universal Confirmation rates and improve them where needed.


Affected products/services


Swift Universal Confirmations Customer Credit Transfer (MT 103 and pacs.008) customers


We’ve noticed that your institution’s Universal Confirmations score at the BIC8 level is below the required 80% threshold:


<table cellspacing="0" width="100%" cellpadding="5" border="1" style="mso-table-lspace:0px; mso-table-rspace:0px; mso-cellspacing: 0px; mso-padding-alt: 5px 5px 5px 5px; border-collapse:collapse;width:100%;"><tr><th style="word-break: normal; hyphens: auto;font-family: Arial, Helvetica, sans-serif; font-size: 11px; line-height: 12px; color:#222;text-align:center;">BIC8</th><th style="word-break: normal; hyphens: auto;font-family: Arial, Helvetica, sans-serif; font-size: 11px; line-height: 12px; color:#222;text-align:center;">Universal Confirmations score</th></tr><tr><td style="word-break: normal; hyphens: auto;font-family: Arial, Helvetica, sans-serif; font-size: 11px; line-height: 13px; color:#222;text-align:center;">TOPZBRRS</td><td style="word-break: normal; hyphens: auto;font-family: Arial, Helvetica, sans-serif; font-size: 11px; line-height: 13px; color:#222;text-align:center;">0%</td></tr></table>


To comply with the Universal Confirmations requirements, financial institutions must confirm at least 80% of their weekly CCT payments traffic within two business days. This confirmation includes payments that have been either credited to the end beneficiary, rejected, placed on-hold, or transferred to an agent outside of Swift.


Impact


Failure to meet the required 80% threshold will result in your institution:


Being identified as a non-compliant entity within the community.


Losing access to the tracking features of the Basic Tracker.


Required actions


To address this, we recommend that you:


Consult the latest available version of the Universal Confirmations Rulebook.


Review your Universal Confirmations compliance score via the Basic Tracker and identify if any BIC is flagged as RED or AMBER.


Investigate and resolve any technical blockers that are preventing automated confirmations.


Evaluate and update any teams or processes needed for manual confirmations.


Conduct a detailed analysis on the causes of non-confirmations.


More information


For more information, please refer to the following documents:


https://click.mailing.swift.com/?qs=044af3349ad374c0f852cf9759641e4b3b5bc87bfd61591dc5f54918b911bdaf708336c4e00babf150a4dd89021105c118b4c91cc30fefaa
Universal Confirmations Rulebook


https://click.mailing.swift.com/?qs=044af3349ad374c0838204bc037ea083d8b9da878965deef6152f4de0836dee82fe7b198ccfd55834f28663c20feaa64261b35630e859387
Basic Tracker Operations Guide


https://click.mailing.swift.com/?qs=044af3349ad374c02bbdadf09d88025d3bf35bf8124a541b35b14b5b0bb2de20cdaa4d4e5c44a64cbd1956d2a18aa21c7d6d26368098aa54
Step-by-Step Connection Guide for Basic Tracker


Should you need any further assistance, you can reach out to
mailto:UC.Campaign.Contact@swift.com?subject=
UC.Campaign.Contact@swift.com .

Please do not reply to this email as this mailbox is not actively monitored.


Regards,
Swift






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