SWIFT gpi was introduced in the Standards Release 2018 (SR2018) requiring SWIFT members to adopt the use of a Unique End to End Transaction Reference or UETR in the SWIFT header for payment message types.

Universal Confirmations will go live in November 2020 and all FIN Users will be expected to provide a status update or Universal Confirmation to the SWIFT Tracker for the following typical scenarios:

  • Pending status (e.g. for sanctions of AML processing delays or awaiting funds or documents)
  • Rejection (e.g. Beneficiary details incorrect)
  • Passing on payment to a non-SWIFT payment service (e.g. local clearing)
  • Crediting of funds to the final beneficiary account
What are the risks of non-compliance?

SWIFT can detect non-compliance and as of 1st June 2021, they will apply sanctions by limiting access to the web-tracker tool and highlighting an organisation as non-compliant to other institutions.

Regulatory Initiatives

How can Aqua assist?

At Aqua Global we can enable our customers to maximise the use of the mandatory SWIFT gpi and Universal Confirmations directive using e2gen. e2gen can deliver quick and cost-effective adoption of these initiatives without the need for expensive and time-consuming core system upgrades.

For Further information please click below:

Factsheet – SWIFT gpi and Universal Confirmations

White Paper – SWIFT gpi and Universal Confirmations

We can help you

If any of the latest initiatives are affecting you, then contact Aqua Global today at info@aqua-global-solutions.com or call us on +44(0) 20 8544 3200.