The regular annual meeting of National SWIFT User Group of Montenegro was held on 30 May 2019. The representatives of SWIFT were present – Ms Maria Uzoykina, new Account Manager for Montenegro as well as SWIFT business partner for our region, company CIS from Novi Sad.
Members of the group from Montenegrin banks had the opportunity to hear about current status of ongoing SWIFT projects, like Customer Security Programme, that started more than two years ago, aimed to raise the security of SWIFT and core banking systems in banks to much higher level. Further, two new projects of SWIFT were announced and briefly presented – Payment Control Service, that allows banks to have more precise and detailed insight into its payments and their realization up till the end and Alliance Warehouse, providing long-term archive for SWIFT messages.
Lastly, the banks were given the presentation of ISO 20022 migration, that starts in 2021 and is set to be completed by 2025. ISO 20022 is a new standard in the operation of whole financial industry.