You can access the SWIFT network through the following models:
• SCORE (Standardised Corporate Environment): A one-to-many open model where SWIFT dictates what message standards you can exchange with any bank that supports SCORE.
• MA-CUG (Member Administrated Closed User Group): A one-to-one model where you and the bank agree on the messages and/or formats that will be exchanged.
Once you’ve chosen a model, you can communicate with your bank over the SWIFT network using the following integration protocols and supported message types:
• FileAct: A cost-effective and reliable protocol to securely transfer large volumes of data in different file formats to and from financial institutions. It is typically used to exchange batches of structured financial messages, such as bulk low-value payments.
Messages transferred with FileAct can be in any format, but we recommend using the SWIFT endorsed ISO20022 formats (for example, ISO20022 pain.001.001.03).
• FIN: A secure and reliable, store-and-forward messaging service. It is typically used to exchange single high-value transactions in a structured SWIFT validated messaging standard.
Messages transferred with FIN have to follow to the SWIFT standard. These messages are validated on the SWIFT network to ensure data integrity and conformity to standard (for example, SWIFT FIN MT101).