BSS joined SWIFT Russian National Association

4 March 2020

BSS Company was accepted into the Association by the decision of the Committee of SWIFT Russian National Association.

SWIFT Russian National Association (ROSSWIFT) was established in 1995. It is the national representative of the World Interbank Financial Telecommunications Community (SWIFT).

For BSS, membership in ROSSWIFT will allow to:

  • participate in the CB working groups as an expert and developer of new standards;
  • standardize workflow when switching to ISO20022;
  • develop Multibank solution;
  • interact with leading financial institutions and promote its own solutions.

About 400 Russian banks and organizations are users of SWIFT. More than half of Russian credit organizations, which are the country’s largest financial institutions and carry out more than 80% of settlements, are represented in SWIFT. By the number of SWIFT users, Russia ranks 2nd after the United States.

ROSSWIFT is a member of the European SWIFT Alliance, bringing together 29 countries within SWIFT, which account for more than 30% of global traffic. ROSSWIFT is also a member of the Association of Russian Banks (ARB), the Association "Russia", the Chamber of Commerce and Industry, NP "National Payment Council".

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