SWIFT has designated the weekend of November 22, 2020 as the implementation date for the 2020 SWIFT Standards Release (SR2020).

As your SWIFT service provider, BBH Infomediary® invests heavily to prepare for this annual, industry-wide initiative to ensure a successful transition for all our clients to SWIFT’s newest standards. Each year our team of SWIFT experts coordinate hundreds of BBH Infomediary mapping updates in response to these messaging and market practice changes. BBH Infomediary applies the required changes within our InfoAction® application as well.

In general, the updates BBH Infomediary manages relate to mandatory standards for the processing of messaging by SWIFT. However, there are also optional changes clients may consider to comply with certain market practice guidelines or a SWIFT counterpart's request. BBH Infomediary recommend every client reference the SR2020 change summary books by following the attached link in order to assess any potential impacts to your organization.

In recognition of the operational stresses that the COVID-19 pandemic is putting on the global financial community, and especially on smaller institutions therein, SWIFT has decided to prioritize only the Universal Payment Confirmation (MT103), MT Category 5 (Securities Markets) for the November 2020 release.

SWIFT’s universal confirmation mandate also goes into effect on this date. MT 103 inbound messages will be rejected if and to the extent received for transmission to our clients. Clients that already have a contracted pre-existing MT 103 inbound flow in place are exempt from this change.

Please contact your Relationship Manager if you have any questions or would like to discuss BBH Infomediary’s SR2020 plans in greater detail.