News

SWIFT TSU no longer available post December 2020

07/05/2019

Although not officially announced by SWIFT, and the SWIFT website is still actively providing tools and coverage of the Trade Service Utility (TSU), it has recently been announced in a couple of trade finance publications - GTR and TXF - that SWIFT have decided that the TSU and its transaction matching application functionality, on which the Bank Payment Obligation (BPO) relies, will be decommissioned in December 2020.

In itself, the decommissioning of the TSU does not spell the end for the BPO product, provided another organisation can provide a system with the same functionality as the TSU. Unlikely, but possible.

It is true to say that the TSU never hit the heights of the volume expectations when it was first made available in 2008 or when the URBPO rules were introduced in 2013. However, banks and corporates are using the product and the rules. If anything, the TSU and BPO have become the catalyst for the digitalisation solutions that are available today or are in development.

 


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