SWIFTNet for Corporates
A global and standardised communication channel towards your bank
SWIFTNet for Corporates is an access for Supported formats
corporate customers to the highly secure and
reliable SWIFT Network, which for years has been SWIFTNet FIN (message based data exchange):
used as an international platform for exchanging SWIFT messages (MTXXX)
financial messages between banks and financial
institutions. SWIFTNET FileAct (file based data exchange):
SWIFT Messages (MTXXX)
According to the rules set by SWIFT, customers ISO20022 XML
can send and receive messages, e.g. payment local country specific standards
instructions, financial company payments and EDIFACT format through Nordea Corporate
account statements. eGateway solution
SCORE
Benefits
Possibility of reaching all institutions which are
connected to the SWIFT network.
One communication channel: Reduces time
spent on implementing and maintaining
multiple bank systems and connection points
Standardised security protocols,
communication methods, messages and
formats
Some Nordea-specific file types are also
supported
Processing in a secure and reliable
environment
SWIFT is available 24/7. Guarantees a
consistent business operation.
The Standardised Corporate Environment
(SCORE) is based on a closed user group,
What is needed administered by SWIFT, where corporates can
interact with financial institutions.
Before starting to use SWIFTNet as a channel
towards the bank, customers who are not The customer can communicate with several
already SWIFT customers must first join banks through one connection
SWIFT by using the SWIFT Undertaking SWIFT defines and operates the service
agreement.
Customers must decide which of the available
SWIFT services and Nordea services they
need to implement:
SCORE or MA-CUG agreement
Connection: FIN, FileAct or direct connection:
via Service Bureau or Alliance Lite (provided
by SWIFT)
Message types and file types
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MA-CUG SWIFTNet FIN can only be used for SWIFT
Messages (MTXXX). Messages sent through this
service are validated by SWIFT and must conform
to the SWIFT standard. Message types and
content must also be agreed upon and tested
between Nordea and the customer in order to
ensure that the content is as expected.
SWIFTNet FileAct
SWIFTNet FileAct is a file transfer system that
can be used for any type of format. A SWIFTNet
FileAct connection has to be configured at both
ends.
Security
The security solution for SWIFTNet FileAct is
Member Administered Closed User Groups (MA- provided by SWIFT. For EDIFACT files we offer
CUGs) enable members to provide financial AUTACK or PGP as supplementary security
services to their customers over SWIFTNet. methods.
The customer can only communicate with Abbreviations Explanation
the MA-CUG bank Alliance Lite [Link]/alliancelite
The MA-CUG bank defines and operates FIN The financial messaging
the service application, which together
Corporates can join multiple MA-CUGs with the General Purpose
Available for all customers Application, makes up the FIN
service
Technical information MA-CUG Member-Administered Closed
User Group
SIPN is the global network of SWIFT. It is used to SIPN The Secure IP Network
provide SWIFT services to the SWIFTNet user SCORE Standardised Corporate
community. Environment
SWIFT Society for Worldwide
There are three methods by which Nordea’s Interbank Financial
corporate customers can access SWIFTNet Telecommunication
services: ISO20022 XML Message type, based upon
Direct connection to SWIFT: Customers use ISO standard and is CGI
their own network access equipment to (Common Global
connect directly to SWIFTNet Implementation) compliant
Indirect connection to SWIFT; Customers [Link]
connect to SWIFT through a third party Please see also [Link]
(service bureau or Member/Concentrator)
Alliance Lite service provided by SWIFT which
How to proceed
is a web-based service for easy and fast
Contact your local account manager or cash
connectivity implementation – some
management specialist to get further information
restrictions apply in relation to volume
and details about SWIFTNet for Corporates.
SWIFTNet FIN
[Link]
SWIFTNET FIN is used for treasury payments,
account statements etc. Technically a SWIFTNet
FIN connection is a plug-and-play implementation
provided that the customer is already connected
to SWIFT. Nordea and the customer exchange
SWIFT addresses (BIC/BEI) and once these are
registered on each side, the connection is in
place.
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