Following market feedback and demand from corporates and banks and in close collaboration with the Corporate Advisory Group (CAG), SWIFT has implemented a series of enhancements in SCORE.
1. Additional messages supported in SCORE
We have identified clear demand from Corporates to leverage SWIFT in support of message flows beyond their traditional cash and treasury businesses. The following additional messages are now supported in SCORE.
The use of these additional message flows will remain optional within SCORE. Financial Institutions will implement them if and when required in order to serve their corporate customers.
2. Facilitating statements between Banks and Corporates
Any Supervised Financial Institution connected to the SWIFT network can now send SWIFT MT 940 (End of day) and MT 942 (Intra-day) bank statements directly to their corporate customers through the secure SWIFT network.
Previously only banks registered in the SCORE service were able to use the SWIFT network to send statements to their corporate customers registered in SCORE. Now all banks connected to SWIFT, with the following abilities, can offer this service to corporate customers:
- generate account reporting information in the correct format (MT 940 or MT 942);
- deliver the information over the SWIFT network to Corporate customers subscribed in SCORE.
This enables Corporates on SCORE to request receiving account statement reporting through SWIFT from more than 9,000 Financial Institutions globally.