SWIFT has established a new concept, called “Member Administered Closed User Group” that enables members (banks) to provide financial services to their customers over SWIFTNet.

MA-CUGs can be used across markets - payments, cash management, treasury, derivatives, trade services and securities – and use proprietary or domestic formats, or SWIFT standards.

A variety of customers can be serviced in MA-CUGs, including corporates, insurance companies, and securities players.

As a user of MA-CUGs, you gain the benefits of the secure and reliable SWIFT network and infrastructure. Using SWIFT standards, you increase automation, reduce risk and lower your processing costs.

All this is available by re-using a single infrastructure and connection to SWIFT.