Correspondent Banking
Send and receive cross-border payments with your BIC and account numbers
Our Correspondent Banking solution enables you to send and receive cross-border payments using your own BIC and account numbers, providing global payment processing capabilities through our correspondent banking network.
This allows you to maintain full control of your customer relationships, ensure transparency in the payment chain, and preserve your brand identity while accessing international payment networks.
Key Features
- Process payments using your own BIC and account numbers
- Support for 24 currencies with different cut-off times
- Two integration options: SWIFT or API
- Real-time processing and monitoring capabilities
- Integrated FX capabilities
- Comprehensive reporting and reconciliation tools
How It Works
- Outbound Payments: You instruct payments using your own BIC and account numbers
- Payment Processing: We route payments through the most effective payment rail available
- Customer Visibility: Recipients see your customer as the 'Ordering Customer' and your BIC as the 'Ordering Institution'
- Incoming Payments: For incoming payments, the flow is reversed with automatic notifications
Integration Options
The Correspondent Banking solution is available through two integration channels, each designed to suit different operational setups and preferences:
| Feature | API Integration | SWIFT Integration |
|---|---|---|
| Payment Initiation | Submit payment instructions directly through RESTful API endpoints | Send payment instructions using both ISO 20022 message formats (pacs.008, pacs.009) and legacy SWIFT MT formats (MT103, MT202). Both serial and cover payment methods are supported. |
| Foreign Exchange | Support for embedded FX, RFQ-based rates, and held rates | Instruct FX-embedded payments using standard SWIFT field population |
| Notifications | Real-time payment status updates via configurable webhooks | Payment updates via standard SWIFT FIN messages (MT900, MT910, MT199) |
| Reporting | Access reports programmatically in JSON/XML formats or via the Client Portal | Access reconciliation reports in standard MT9xx formats delivered to your SWIFT interface |
| Best For | Direct integration, real-time processing, automated workflows | Existing SWIFT infrastructure, traditional banking operations |
Choosing Your Integration Method
API Integration is ideal for clients seeking direct connectivity with real-time processing capabilities, automated workflows, and enhanced visibility into payment flows.
To get started with API integration, refer to Make an correspondent banking payment via API and Payment instruction using pacs008 format
For more details, refer to Correspondent and Agency Banking via API
SWIFT Integration is perfect for organizations already connected to the SWIFT network who want to leverage their existing infrastructure to send payment instructions.
For SWIFT-based implementation guidance, refer to Correspondent and Agency Banking via Swift
Updated 5 days ago