Request: Set-up of interoperability between industry standards ISO 15022 and ISO 20022.
Solution: Implementation of IDS middleware product that allows to transform MT SWIFT messages (ISO 15022) into MX SWIFT messages (ISO 20022) and vice versa.
Request: Transform CSV (comma-separated values) and PSV (pipe-separated values) formats into MT/MX SWIFT messaging formats and vice versa.
Solution: IDS middleware platform applies such transformations each time a customer sends or receives messages in abovementioned formats.
Request: Optimize tracking of cash positions by implementing transformation of BAI2 format (message used for cash management by the Bank Administration Institute) into MT940 message (standard structured SWIFT Customer Statement end of day message) and vice versa.
Solution: Implementation of IDS covers such transformations.
Request: Provide automatic transformation of EDI format (Electronic Data Interchange format that provides standards for exchanging data via any electronic means) into MT101 SWIFT message (“Request for transfer”).
Solution: Set-up of IDS helps to convert these formats on the fly.
Request: Systematically, in certain period of time to aggregate all financial data, to create a batch file based on it, to transform the batch file into FileAct that consists of SWIFT MT messages and send it out to SWIFT via Alliance Access messaging platform.
Solution: IDS middleware supports data aggregation, transformation, and successfully fits within such workflow. In a predefined period of time (e.g. every 30 minutes) IDS aggregates all necessary financial data, creates a batch file based on it, transforms the batch file into FileAct, adds a special header to it and sends it out to SWIFT network via customer connectivity solution. Using such an approach, the customer benefits from optimizing his messaging traffic when handling with low-value payments.
Request: Generate SWIFT FileAct messages from any sources and count transactions by different criteria.
Solution: Implementation of IDS middleware allows to shape SWIFT FileAct messages from any available sources, creating for it a special system block, so called header. As soon as a FileAct message is ready, it is sent directly to SWIFT via SWIFT Alliance Access or any other SWIFT connectivity solution. Also, IDS can calculate transactions by different criteria and build a report based on that.
Request: Based on content of each outgoing message (for example, Sender, Receiver, etc.), automatically transform a message into a predefined format and route it in a predefined way. As soon as a message is sent, to get delivery notification.
Solution: With IDS, each file that is sent, e.g. in CSV format (comma-separated values) is analyzed by a system and routed to definite receivers in acceptable formats. Delivery notifications are sent back to sender.
For example, Reciever 1 gets only MT103 SWIFT messages ("Single Customer Credit Transfer") and only via SWIFT Alliance Access; Receiver 2 accepts financial messages only in PSV format (pipe-separated value) and only via SFTP channel; Receiver 3 obtains all financial information only via emails, so it must be sent via POP3.
Request: To be notified over predefined emails as soon as ACK (Acknowledgement) or NACK (Negative Acknowledgement) status is received. All relevant information should be indicated in the report.
Solution: IDS middleware can parse any data within SWIFT files, generate customized reports (intraday or end of day) based on it, and send predefined emails via SMTP (Simple Mail Transfer Protocol) or other means.
Request: To get reports from IDS based on incoming financial information.
Solution: Implementation of IDS gives an opportunity to parse and analyze all incoming files (SWIFT MT, MX, CSV, Emails or any other custom formats) and generate balance reports based on parsing results.
Request: To check all message flows on duplicates to avoid double messaging and related troubles.
Solution: IDS can prevent dubbed message flows. Before sending any SWIFT message to SWIFT via Alliance Access or any other SWIFT connectivity platform, IDS middleware checks it for possible duplication against own built-in database. All messages within IDS are stored in a hash (SHA-256 format). It allows us to compare messages by their hash.
Request: To receive MT101 SWIFT message (“Request for transfer”) out of a back office, to check it against the custom list of validation criteria and send it to SWIFT via SWIFT Alliance Access.
Solution: IDS middleware platform can communicate virtually with any back office application, validate messages based on the latest industry standards and/or custom validation criteria, and send them directly to SWIFT via SWIFT Alliance Access or any other SWIFT connectivity solution.
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