RBS Adopts Single-Platform Transaction Messaging for Corporates
![Royal Bank of Scotland Royal Bank of Scotland](/sites/default/files/styles/landscape_750_463/public/import/IMG/024/144024/rbs-logos-580x358.jpg.webp?itok=hesNVeBh)
Companies that rely on a range of banks to execute their trade transactions often use several proprietary bank systems. But they can now use the MT798 message type to exchange information with all their banks from one platform, which will use FIN, Swift’s core store and forward messaging service and will include among 41 message types import letters of credit, standby letters of credit and guarantees, and receipt of export letters of credit.
“The MT798 is a great example of how banks, corporates and Swift are working together to provide bank-agnostic solutions. We are delighted to bring this new capability to RBS customers with all the benefits it brings to both them and us," says Alastair Brown, Head of eChannels, RBS Global Transaction Services.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Banks fret over vendor contracts as Dora deadline looms
Thousands of vendor contracts will need repapering to comply with EU’s new digital resilience rules
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this space.
This Week: Trading Technologies completes ANS deal; State Street; Equinix; and more
A summary of the latest financial technology news.
Interactive Brokers looks beyond US borders for growth opportunities
As retail trading has grown in volume and importance, Interactive Brokers and others are expanding international offerings and marketing abroad.
JP Morgan’s goal of STP in loans materializes on Versana’s platform
The accomplishment highlights the budding digitization of private credit, though it’s still a long road ahead.
As data volumes explode, expect more outages
Waters Wrap: At least for those unprepared—though preparation is no easy task—says Anthony.
This Week: ICE Bonds and MarketAxess plan to connect liquidity networks, TS Imagine, Bloomberg, and more
A summary of the latest financial technology news.
Industry associations say ECB cloud guidelines clash with EU’s Dora
Responses from industry participants on the European Central Bank’s guidelines are expected in the coming weeks.