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RMA – Taking relationship management to a new level

The introduction of a new relationship management application (RMA) will improve the user's control over SWIFTNet counterparts and their traffic. Such mechanism exists in a more limited form today on FIN (via BKE -Bilateral Key Exchange), while the RMA application is targeted at all SWIFTNet services with a requirement for individual users to control their counterparts.

New relationship management application

A new relationship management application (RMA) will replace the current BKE model. RMA ensures that you as a SWIFT User will be able to reflect the business relationships you have in place, by providing full control over the traffic that will be received from your correspondents.
RMA is not limited to FIN, but can be used with all SWIFTNet services requiring such controls. It stores a customer’s relationship management information and interacts with the relevant interface to ensure that only traffic for which authorisation is in place will be sent (or received). As such, RMA stops unwanted traffic at the source, i.e. at the sender, so that you as a receiver are shielded from it.
In addition, RMA is simple to operate and available for all SWIFTNet-based solutions, not only FIN. There’s no need to renew an RMA authorisation as long as the business relationship with your correspondent doesn’t change. Furthermore, the additional granularity provided by RMA means that allowable traffic can be specified for each correspondent.

Benefits

  • Avoiding unwanted traffic: with RMA, unwanted traffic is stopped at the sender. This means that you, as receiver, are shielded from unwanted traffic and its potential negative consequences, such as investigations, auditing, regulatory reporting and reputational risk.
  • Simpler than BKE: the RMA protocol is much simpler than today's BKE mechanism. With RMA, there is no need to renew authorisations every 6-12 months, as is the case in the current BKE world leading to reduced staffing to manage RMA.
  • Providing relationship management capabilities on SWIFTNet: RMA is a generic SWIFTNet feature designed to give you the necessary controls over your SWIFT counterparts. RMA will be used on SWIFTNet FIN as well as on other SWIFTNet services that require similar level of control over correspondent traffic.
  • More granular control over counterpart relationships: with RMA, you can not only control from who you want to receive traffic, but also what you want to receive. For FIN, this will mean that you can (optionally) control correspondents up to the level of individual authenticated message types.

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