Bulk Payments: New Exchange Payload Header Specifications – for commentPublished on 14 August 2008 Best practice for structuring exchange payload in support of the Bulk Payments solutions and SEPA transfersResponding to the growing demand for clear guidance on SEPA implementation issues, the SEPA Testing Advisory Group (STAG) and SWIFT are pleased to announce the latest development in Bulk Payments, and more specifically the SEPA interoperability work stream, with the publication for comment of the File Header Specifications.
To complement the publication of the Implementation Document for FileAct 6.1, "Using the Enhanced Header Structure," on 12 July, SWIFT and the STAG have been working on the attached specifications for Exchange Payload Header. It specifies generic rules and specifications for file business and technical content declaration. Although the illustration in the document is centered on the Bulk Payments solution, the specifications are based on best practices for file transfer operations. It is generic and covers any and all file transfers, on any network. As a matter of fact, the same specification forms the basis for the Best practice for file transfer to complement the Giovannini Protocol Recommendation.
The objective of these specifications is to address issues faced by financial institutions and their counterparts when implementing file transfer solutions. It is thus clearly positioned in the non-competitive space.
The objective of the Exchange Payload Header Specification for Bulk Payments is to eliminate the requirement for business partners, who need to send file transmissions to each other, to go through expensive and time-consuming design processes before setting up their systems. It does this by specifying header and content structures which can be replicated easily on any technology platform by re-using components from the ISO standards domain.
The STAG founding members who have approved the Specifications for public consultation include ABN AMRO, Bank of America, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Popular, Banco Santander Central Hispano, Caisse Nationale des Caisses d'Epargne, Citi, Commerzbank, Crédit Mutuel - CIC, Deutsche Bank, Fortis, ING, JPMorgan Chase, Natixis, Nordea, SANPAOLOIMI, SEB, Société Générale and UBS.
One of the earliest institutions to make use of the specifications is Standard Bank in South Africa, who has decided to use it to design a new system for the communication of bulk payments for worker remittance processing. In the words of Standard Bank's Director of Strategy and Product Development, Arthur Cousins: "These Specifications are a timely and valuable development in the range of SWIFT's harmonisation initiatives. Our development team will save a significant amount of time and effort in putting our service together, simply by agreeing to build the file transfer as specified in the Specifications, which are simple, practical and clear."
"These Specifications are paving the way for any file transfer solutions between Citi and its affiliates, be they organised systems or direct partners, and across all business segments," adds Citi's SEPA Program manager and STAG member Saurabh Nimaiyar. "They are a big step forward for the harmonisation of the solutions we are implementing, which is most welcome in the SEPA framework. The STAG strongly encourages stakeholders to comment on the draft specifications which represent a common, non-competitive, cost savings breakthrough initiative by the industry as a whole."
The Specifications are available below for open consultation until 14 September 2007. The final version will be published at end of September. Comments and suggestions for improvement are welcome from industry stakeholders - please e-mail marc.pomesbordedebat@swift.com.
Documentation
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