Norwegian software vendor Commercial Banking Applications (CBA) says it has released a new user-friendly solution to comply with the SWIFT electronic messaging platform's new letter of credit (L/C) requirements.

The software specialist's IBAS GTF - Global Trade Finance Factory - went live at all CBA's user banks in November 2018, in full compliance with SWIFT's new requirements, while the latest release incorporates several new features designed to be user-friendly.

Automated processes

Version 10.23 of IBAS GTF incorporates all changes mandated by SWIFT to its messages for straightforward L/C handling and claims to enable a high-level of automation, digitision and robotic control in the end-to-end processing of trade finance transactions.

Due to the challenges faced by a number of banks, SWIFT has postponed the planned changes to guarantees and standby L/C messaging protocols until 2020.


The Norwegian firm says its version 10.23 of IBAS GTF incorporates changes designed to help guide customers less familiar with SWIFT message formats intuitively through the process.

This aims to ensure that the required information is captured in the correct fields for processing, thereby minimising the need for any manual intervention further downstream.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.