ISO 20022/CBPR+ Migration
Banks and financial institutions globally are set to transition their payment systems from using traditional MT SWIFT messages to the new, highly structured and data-rich ISO 20022 standard as of March 2023. ABM Convertor offers the following benefits:
- Comprehensive security assessment.
- Compliance with industry standards.
- Minimizing risk and enhancing security.
SWIFT Universal Payment Confirmation (UPC)
Up until very recently, international payments were slow and cumbersome, lacking visibility and dependability. With global trade continuing to expand at an unprecedented rate, more and more businesses and individuals are relying on cross border payments. ABM’s Universal Payment Confirmation Solution is an application that enables the bank to comply with the mandatory SWIFT requirements by automatically sending the required “confirmation” related to incoming transfers whether the funds are credited to the final beneficiary account, or the payment has been rejected in SWIFT Tracker (Basic tracker).
SWIFT gpi
SWIFT Global Payment Initiative (gpi) is a global industry based solution that speeds up and improves traceability of cross-border payments. Each individual SWIFT payment initiated by banks will carry a Unique End-to-End Transaction Reference (UETR), allowing you to trace your payment easily along the payment route, right until the crediting bank account. It allows faster payment processing, greater transparency on cost and status of payment and real-time notifications.
SWIFT Replication and High Availability Solution
We provide a replication solution for the SWIFT Alliance Access/Entry. This solution enables organizations using the SWIFT Alliance Access/Entry to replicate their data and systems in real-time to a secondary location. This ensures that a copy of the data is always available, even in case of a disaster or outage, and that the organization can quickly restore operations. The solution is designed to work seamlessly with the SWIFT Alliance Access/Entry and supports multiple replication methods, including synchronous and asynchronous, to meet different recovery point objectives.
SWIFT Notification
ABM SMS & Email Notification application is designed to operate on the SWIFT Alliance Access and Entry systems with the objective of retrieving information about clients’ transactions and sending it to them by SMS or by email.
SWIFT Archiving & Reporting
ABM Reporting View is an application designed for the SWIFT Alliance System to enhance its functionality and generates sophisticated statistical reports in real time. The system is designed to allow the users easily search for specific messages or group of messages and to create their own statistical reports. Pre-generated reports are also provided with the system..
SWIFT Reconciliation
ABM Reconciliation application enables organizations to automate the matching of outbound invoices and inbound payments, intensely improving operational efficiency.
SWIFT Duplicate Detection
Automatic detection of duplicate messages is necessary for any financial institution connected to the SWIFT network to eliminate duplicate operations such as payments. ABM Transaction Detection System is an application that manages real and possible duplicates among both incoming and outgoing SWIFT messages. These include Full Duplicates, Partial Duplicates, Duplicates of Negative Acknowledged messages (NACK), Non-Configured, Excluded and Non-Checked messages.