RMA
Correspondent authorization control on the Swift network.
Definition
RMA manages bilateral authorizations (exchange keys) between BICs: without an active RMA authorization a sent message is rejected. It replaced the legacy BKE/Bilateral Key Exchange system and lets institutions restrict the message types they will receive, reducing fraud and unwanted traffic.
Origin
Service defined and operated by Swift, documented in the RMA Service Description and Alliance guides published by Swift.
Example in context
Before sending an MT 103 to a correspondent bank, the sender must hold an RMA authorization received from that bank for this message type.