Structured Financial Messaging System
Company type | Parent Reserve Bank of India | |
---|---|---|
Website | iftas |
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Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT which is the international messaging system used for financial messaging globally.
SFMS can be used for secure communication within the bank and between banks. The SFMS was launched on December 14, 2001 at
The intra-bank part of SFMS is used by banks to take full advantage of the secure messaging facility it provides.[
The Indian Financial Technology and Allied Services (IFTAS)
With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial institutions.[2]
Services like Indian Financial Network (INFINET),[3] Structured Financial Messaging System (SFMS)[4] and the Indian Banking Community Cloud (IBCC)[5] have been handed over to IFTAS with effect from April 1, 2016.[6]
See also
- Cross-Border Interbank Payment System (CIPS)
- Cryptocurrency / Digital currency
- Digital renminbi
- Digital rupee
- Indian Financial System Code (IFSC)
- SWIFT
- Instrument in Support of Trade Exchanges (INSTEX)
- International sanctions
- Single Euro Payments Area (SEPA)
- SPFS
- Terrorist Finance Tracking Program
- TIPANET
References
- ^ "Structured Financial Messaging System (SFMS)". Retrieved 30 April 2015.
- ^ "IDRBT - IFTAS".
- ^ "IFTAS - INIFINET".
- ^ "IFTAS - SFMS".
- ^ "IFTAS - IBCC".
- ^ "IFTAS".