🔐 Technical Details & Security of IBFT

• Message Standards: IBFT transactions conform to industry standards such as the UN/EDIFACT FINPAY message format, which supports multiple interbank funds transfer instructions in a single message, facilitating efficient clearing and settlement.


💡 Tip: Use the UN/EDIFACT FINPAY format for high-volume batch IBFT instructions. It simplifies clearing between banks.


• Security: IBFT systems comply with Bank Negara Malaysia regulations and incorporate multi-factor authentication, encryption, and fraud monitoring.


🔐 Security Tip: Ensure all IBFT endpoints are protected with up-to-date encryption standards and multi-factor authentication as per BNM guidelines.


📘 Best Practice: When sending bulk IBFT instructions, validate all destination accounts before processing to avoid failed transactions and reconciliation issues.