RMA is a system where an issuing bank and a receiving bank must allow each other to send quick messages and also what kind of quick message they can send each other. This makes the communication system more secure. SWIFT tracks all service parameters and makes them available to all participants in a downloadable ASP package. Wolfsberg`s paper states that financial institutions should „incorporate RMA due diligence standards into their financial crime/AML/KYC programs,“ and cites a set of principles that should be considered for RMA relationships with customers and non-customers. RMA keys allow banks to open channels between themselves in the SWIFT network relatively easily and easily – from a technical point of view, banks only have to agree to use an RMA key. However, even if a channel is technically open, it would not be used for FIN messages unless each partner runs a full KYC (Know Your Customer) on the other and, if necessary (e.B. high-risk countries), additional approval is obtained from the banks` compliance departments. The KYC registry provides a global source of KYC information and negative media about correspondent banks and fund players, resulting in increased efficiency and reduced effort and costs for KYC and CDD compliance activities. It is not enough for the door to be opened; To cross the threshold, the specific authority must come from within the bank. RMA was originally planned for the launch of the SWIFT FIN service as part of the SWIFTNet Phase 2 project in 2008. [3] RMA Plus, the more detailed version of RMA, goes even further by allowing institutions to specify the types of messages they wish to receive and send to each of their counterparts. By having better control over individual relationships, RMA Plus can open up new business opportunities that might otherwise be avoided due to risks and regulatory concerns. There are currently around 2.8 million RMA keys in the SWIFT community – active or inactive – of which around 40% have not been used in recent months.

Societe Generale, for example, has around 40,000 RMA keys, of which 28,000 are actually active. For more effective key tracking, regular stock cleaning should therefore be carried out. . The recipient of an enabled send permission (sender of the allowed stream) removes the permission. With swift Codes, banks and financial institutions send and receive fast messages. But there must have been times when you may have met your bankers who came back to you and told you that they didn`t have a quick key agreement with the buyer`s credit bank. Therefore, they cannot send a certified Swift message (MT799) to the buyer`s credit bank. .