The Trade Services Utility (TSU) for banks
SWIFT’s Trade Services Utility (TSU) is a centralised matching and workflow engine. The TSU enables the accurate matching of structured data. As a result, it facilitates value-added supply chain services such as finance programmes, cash forecasting and liquidity management.
Supporting trade instruments
Although traditional trade instruments represent a falling percentage of global trade, the value of such instruments is continuing to grow. Meanwhile, corporate demand remains strong for trade services such as document comparison, discrepancy management and foreign exchange hedging.
Such services often require an exchange of data between the buyer’s bank and the seller’s bank. The TSU meets this need by comparing structured data from the two primary banks and advising them of inconsistent data. Further banks can also be included into the TSU workflow.
From a corporate point of view, the TSU can lead to faster access to funds, as well as better prices and/or higher credit limits.
Other features include:
- Provides timely and accurate comparison of data from underlying corporate purchase agreements and related documents.
- Supports messages including purchase order, invoice, transport, insurance and certificate data.
- Handles data, rather than electronic versions of paper documents.
Supply chain financing solutions
The TSU complements the delivery of new supply chain finance solutions:
- The Bank Payment Obligation (BPO) is an irrevocable obligation from one bank to pay another bank.
- The Notice of Intent to Pay message indicates one corporate’s intent to pay another corporate.
Together, these solutions provide a strong backbone for pre-shipment and post-shipment financing.
Read our TSU factsheet to find out more.