| AML | Anti Money Laundering. Rules to prevent funds obtained illegally to be converted into legal money. |
| API | Additional payment information - This message is used to provide additional or corrected information on a payment instruction or statement entry, in order to allow reconciliation. |
| Bank | In the context of this functional specification, it refers to any financial institution or corporation that is member of the SWIFT Alliance and is approved for SWIFT wire transfers. |
| Bankers Almanac | Independent source of information about banks. |
| BBAN | Basic Bank Account Number. Account number that is used internally by a national banking institution. Forms the base for IBAN. |
| BEI | Business Entity Identifier, the code that identifies a corporation in the SWIFT network. |
| BIC/BIC+ | Bank Identification Code. An internationally accepted code to identify a financial institution precisely. BIC+ is a SWIFT provided database of all banks participating in the SWIFT network. |
| CBS | Core Banking System. Centralized software system to handle all banking processes. |
| CCH | Country, Currency, Holiday |
| CNR | This message is used to initiate an investigation for missing funds at the creditor (missing credit entry to its account) or at an agent along the processing chain (missing cover for a received payment instruction). |
| CCA | Cancel case assignment - This message is used to request the cancellation of a case. |
| CSR | Case status report - This message is used to report on the status of a case. |
| CSRReq | Case status report request - This message is used to request the status of a case. |
| Compliance | The procedure of checking messages (incoming/outgoing) to meet various conditions of AML and the preventions of funding of illegal arms, illicit drugs and terrorist organizations. |
| Correspondent | A correspondent bank is a financial institution that a bank has a Nostro account with, which can forward a settlement to a destination bank where no direct relationship between the source and destination bank exist. |
| DAReq | Debit authorization request - This message is used to request authorization to debit an account. |
| DAResp | Debit authorization response - This message is used to approve or reject a debit authorization request. |
| ECB | European Central Bank |
| EDIFACT | Electronic Data Interchange For Administration, Commerce, and Transport |
| EM | Exceptions Management |
| EU | European Union |
| FATF | Financial Action Task Force. It is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing. |
| FedWire | The American funds transfer settlement authority. |
| Fee/Charge | The charges that are levied on the remitter/beneficiary for the wire transfer. |
| FTU | Foreign Trade Unit, a unit in the bank responsible for all foreign trade transactions. |
| IBAN | International Bank Account Number. A numbering format introduced by the EU (but used outside the EU as well) to uniquely identify a bank account with a banking institution, giving exact details about the country and the bank/branch within the country. |
| Intermediary | Intermediary bank is a financial institution that has a relationship with the destination bank which is not a direct correspondent of the source bank, which facilities the funds transfer to the destination bank. |
| J2EE | Java2 Enterprise, Edition |
| Loro | Loro (is the opposite of Nostro) also known as Vostro, is an account the correspondent institution holds with a bank to settle international financial transactions. |
| MT | SWIFT FIN message types. |
| MX | SWIFT XML message types. |
| Nostro | Nostro account is an account held with a correspondent institution to settle international financial transactions. |
| NOCA | Notification of case assignment - This message is used to inform the case assigner about the assignment of the case for further investigation |
| OFAC | Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving funds. |
| PIC | Partner identification code |
| PFI | Proprietary format investigation - It is used as an envelope for a non standard message |
| PPT | Short name for Power Payments Technologies |
| ROI | Resolution Of Investigation - This message is used to inform of the resolution of a case |
| RCA | Reject Case Assignment - The Reject Case Assignment message is used to notify the case creator or case assigner the rejection of an assignment by the case assignee |
| RFD | Request For Duplicate - This message is used to request a copy of the original payment instruction considered in the case |
| DI | Request For Duplicate Instruction - This message must be sent in response to a Request For Duplicate message. |
| RTCP | Request to Cancel Payment - This message is used to request the cancellation of an original payment instruction |
| RTMP | Request to Modify Payment - This message is used to request the modification of characteristics of an original payment instruction. |
| SEPA | Single EURO Payment Area. An initiative by ECB to allow simplified and cost effective fund transfer within the EU. |
| SOA | Service Oriented Architecture |
| STP | Straight Through Processing. A method by which messages can be processed automatically without user intervention. |
| SWIFT | Society for Worldwide Interbank Financial Telecommunication |
| UTA | Unable to apply - This message is used to initiate an investigation of a payment instruction that cannot be executed or reconciled |
| Web services | Web service is part of a SOA architecture and is defined as "a software system designed to support interoperable machine-to-machine communication”. |
Glossary