New features​

🇪🇸 Instant SEPA Credit Transfers for Spanish account are live. Learn more about requirements for individual and company Spanish accounts.

🦢 Swan's design system, Swan Lake, is public! A natural complement to Swan's open source frontend, Lake gives you a head start with a collection of building blocks for an accessible banking UX/UI.

Improvements​

🛒 Manage your merchant profiles from the Dashboard > Data > Accounts page.

📃 Generate a PDF version of SEPA Direct Debit payment mandates. Merchant customers might need to send this PDF to their banks.

📄 Generate custom account statements with your designated 3-month date range directly from the Web Banking > History page.

📈 To increase the identity verification conversion rate, when the identification fails, we now include a re-engagement link in the text message sent to the user.

👀 We added an unmasked IBAN field for both the debtor and creditor when querying SEPACreditTransferTransaction and SEPADirectDebitTransaction. You can choose how much information to expose when using these queries.

😃 Call the transaction query with a user access token; a project access token is no longer required.

Upcoming breaking changes​

⚠️ In three weeks, we'll start using new enum values for FeesType that have been added to the API. To avoid breaking changes on your side, please take these into account.

New features​

↪ When using the Accept Payments feature, merchants can get paid by SEPA Direct Debit with both B2B and Core methods. The feature is only in Sandbox right now; please let us know if you're interested in beta testing!

🔍 There is a new transactions query to make searching transactions easier.

Improvements​

📑 During the KYC process, you can upload supporting documents Swan requires from your end customers, and request a review. Contact us to activate this feature and receive fewer reminder emails from Swan.

✅ With Internal Direct Debit B2B, use the addReceivedInternalDirectDebitB2bMandate mutation to receive the debtor's consent when declaring a payment mandate.

📣 Sometimes, the KYC process is delayed because of website outages for European business registries. Subscribe to the Swan status page to learn about these delays. There is a new section called Onboarding - European Business Registries where we will post a live incident about who is affected and the overall level of impact.

New features​

🪪 Swan takes another step forward to increase the conversion rate to onboard individual French accounts. PVID (Prestataire Verification d'Identité à Distance) is the latest French identity verification process that provides a fast, secure way to onboard end-customers, with a better user experience. Thanks to PVID, the first transfer or electronic signature is no longer required for EU users opening accounts with French IBANs.

Improvements​

🇪🇺 Every word in every language for Web Banking, Onboarding, text messages, and more (almost 7000 words in 6 languages), was reviewed by our new localization team. We hope your experience in the supported language of your choice improves significantly, and please continue sharing your language-specific feedback with us.

📈 We improved webhook performance and resiliency thanks to a full refactoring.

Breaking changes​

📱 We'll no longer send a text message to users when their identity is successfully verified. Why? With the User webhooks, you can track their progress and notify them however you choose.

New features​

🇪🇸 IBANs starting with ES are live! SEPA Instant Credit Transfers for Spanish IBANs are still in the making and will be live in 2 weeks. You can test both Spanish IBANs and SEPA Instant Credit Transfers with Spanish IBANs with the API or on your Dashboard > Settings > Onboarding.

For each country, Swan must comply with different requirements depending on local law. Learn more about requirements for individual and company Spanish accounts.

Improvements​

💲 When a transaction is processed in a currency other than euros €, this currency with the converted amount is now displayed on your Dashboard.

🔎 On the Dashboard Accounts page, we added a "fees" option to the payment product filter.

⚡ When an instant transfer is requested but can't be processed for any reason, we automatically execute a regular transfer instead. In the transaction history, users will see the method "transfer" instead of "instant transfer", and there will be an alert in the transaction details. This is only for Swan Web Banking.

⏲️ The Time-To-Live (TTL, auto-disconnection) from both our Dashboard and Web Banking platforms have been reduced.

• Dashboard: reduced to 72 hours; the session will refresh every time an API call is sent.
• Web Banking: reduced to 5 minutes; the session token will refresh as long as the Web Banking page stays open.

📱 We improved mobile navigation for Web Banking for a smoother user experience.

New features​

👩🏽‍💻 Subscribe to our new User webhooks to receive real-time updates on any changes related to your users. You can track the identity verification (identifications) process and more. You can also get the list of users who have connected to your project with the new API users query.

🤖 Impersonate a user with a project access token to unlock certain use cases.

💼 We're ready to onboard our first Partners to collect French checks. Please contact us if you're interested in beta testing!

Improvements​

🔍 A new filter period was added to the account statements collection. Use it to filter account statements, whether you create them when you need them or you generate them automatically.

🇪🇺 On your PDF account statements, amounts are now displayed in the local format based on the account language. We'll continue to improve the localized experience.

👑 The project owner's legal representative can now see their card numbers with the API. Also, in Sandbox, promote any account holder in the project to project owner with the testing API mutation promoteAccountHolderToProjectOwner.

Bug fix​

🇫🇷 From May 12th to May 15th, Bouygues Telecom blocked text message delivery to French phone numbers (+33), messages that included a link to authenticate. As a quick fix, we will temporarily send https://link.swan.io instead of https://authmsg.co.

💳 In the Card.Updated webhook, eventDate changed to updatedAt (previously createdAt).

Breaking changes​

⏲️ To improve our webhook performance, we added a timeout of 15 seconds to endpoint requests. When there is no response after 15 seconds, the webhook fails and will automatically retry.

💥 In the addCards mutation, the input field additionalEmbossedLine is now additionalPrintedLine for consistency and user clarity.

Upcoming breaking changes​

📱 In 4 weeks, Swan will stop sending a text message to users when their identity is successfully verified. Why? With the new User webhook, you can track their progress and notify them however you choose!

New features​

🎉 Customize your Web Banking app and onboarding process starting from Swan's open source Banking Frontend. Consider this a reference implementation: you can learn from it, then copy and modify it to fit your needs!

Improvements​

⚡ Instant SEPA Credit Transfer fallback can be tested using the Testing API. Initiate an outgoing Instant SEPA Credit Transfer, then reject it using simulateOutgoingSepaCreditTransferRejection mutation. Use reasonCode: BeneficiaryBankNotReachable.

🫢 Upcoming outgoing Instant SEPA Credit Transfer can be canceled using the cancelTransaction mutation.

✍️ The externalReference field in initiateCreditTransfers is now working for outgoing Instant SEPA Credit Transfer.

🆔 We added the accountId field to Invoice. Use it to find the account associated to an AccountInvoice.Generated webhook event.

Bug fix​

📄 Fee amount are displayed in the .csv account statement

Upcoming breaking changes​

👮‍♀️ To avoid undesired behaviors with our API, we are changing the Tax Identification Number (TIN) accepted format in all the taxIdentificationNumber inputs from 1-11 characters to 7-11 characters in 4 weeks.

💥 isInstant field for initiateCreditTransfer is depreciated and will be removed in 6 months. Please use mode field instead to initiate an Instant SEPA Credit Transfer.

DOCS:

💶 Learn how to build a compliant billing offer.

New features​

↪️ Direct debit a Swan account within the same project. It's our first step for our new feature, Accept Payments. Please contact us if you're interested in beta testing!

Improvements​

💳 You can print one line of custom text, such as a company name, on your physical cards. To do so, you'll need to design a custom card with your Technical Account Manager and include this additional line. Contact us if you're interested in designing a custom card, or adapting an existing design.

Breaking changes​

💥 To avoid undesired behaviors with our API, we changed the accepted date format for two fields in the Onboarding API:

• IndividualUltimateBeneficialOwnerInput.birthDate must be a date YYYY-MM-DD
• IndividualUltimateBeneficialOwner.birthDate format change from dateTime to date

New features​

⚡ We implemented a fallback option for Instant SEPA Credit Transfers. When an instant transfer is unavailable, whether for technical reasons or due to a manual risk assessment, the instant transfer will run as a standard transfer instead. Your customer won't need to reinitiate a transfer or consent a second time.

• How? We added a new input mode to the initiateCreditTransfer mutation, as well as the new filter includeRejectedWithFallback to the transactions query.
• Tip: We recommend you choose false by default so your customers won't see the rejected instant transfer on their transaction history.

Improvements​

📃 To reduce back and forth with our KYC team, we're asking some partners to collect additional supporting documents during onboarding for some use cases:

• Lithuanian companies: Company Registration, UBO Declaration
• Netherlands, Austria, Luxembourg companies: UBO Declaration
• German self-employed: Self-employed Registration

🇩🇪 For German account onboarding (accountCountry: DEU), three fields are now API-optional:

• UBO birth date: individualUltimateBeneficialOwners.birthDate
• UBO birth city: individualUltimateBeneficialOwners.birthCity
• UBO birth postal code: individualUltimateBeneficialOwners.birthCityPostalCode

📼 We added a new field originTransaction to the API at the transaction level. It contains its parent transaction (for example, the card debit for a card debit reversal).

🧪 We added Instant SEPA Credit Transfers and their associated recalls to the Event Simulator on your Dashboard.

💳 You can now approve authorizations with a partial amount. To do so, indicate the partialAuthorizationAmountValue within your payment control response. Note that not all authorizations can be authorized partially; to identify eligible authorizations, look for the allowsPartialAuthorization:true on the payment control notification we send you.

Bug fix​

⚒️ We fixed some latency issues on our OAuth 2.0 server. Let us know if you still have trouble getting your access tokens.

Breaking changes​

💥 We added a new value SwornStatement in SupportingDocumentPurposeEnum. To avoid breaking changes on your side, please take these into account. We'll request this supporting document during onboarding for Spanish companies.