The G20 has set targets to improve transparency, speed, and cost in cross-border payments. To support these objectives, we continue to work with the community to enhance the speed, transparency, and traceability of financial transactions.

Under the Universal Confirmations initiative, institutions are required to confirm every Customer Credit Transfer received and send the confirmations to the Tracker. Since the go-live of CBPR+ cross-border messages in March 2023, every pacs.008 message (including multi-format) must be confirmed within two business days.

Topics covered:

• The significance of Universal Confirmations for your institution
• Understanding the requirements for Universal Confirmations
• Steps to ensure your institution remains compliant
• How to access and interpret your compliance score