Solutions around

SWIFT

ABM’s experts have in-depth understanding of the payments world, which enables them to develop tailor-made solutions around Swift based on the best market practices: notification, reporting, archiving, reconciliation, duplicate messages detection and more.

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 messages sent and/or received for specific clients and sending 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 Input / Output messages will be copied into a secure separate database in order not to a¬ffect the functionality of the system and will be stored in their full details allowing retrieval of any requested information. 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.

Transaction Detection System: ABM Transaction Detection System enables SWIFT Alliance Access operators to detect, all types of duplicate messages the outgoing and incoming in real time. These include Full Duplicates, Partial Duplicates, Duplicates of Negative Acknowledged messages (NACK), Non-Configured, Excluded and Non-Checked messages. These options allow the operator to refine the workflow in the Alliance Access.

SWIFT Reconciliation: ABM Reconciliation Application enables organizations to automate the matching of outbound invoices and inbound payments, intensely improving operational efficiency

  • Eliminates all manual errors
  • Allows accurate reconciliation
  • Minimizes risk and reduces faults
  • Prevents delays in reconciliation

Payment Control System – Business Transaction Control: The aim is to implement transaction detection, prevention, and validation controls, in order to ensure the activity of outgoing transactions within the expected limits of normal activities. It supports and aligns with other regulations such as CPMI’s strategy which equally aims at reducing the risk of payment fraud related to endpoint security. It also recognizes the effectiveness of such control in reducing fraudulent financial losses within the community.

01

Limit the traffic outside the bank’s working hours

02

Perform central checks on payments to detect potential abnormal behavior

03

Restrict swift transactions exceeding limits previously defined by the bank

04

Reconcile the entity’s accounting records with end-of-day statement messages

05

Confirm the daily (and possibly intra-day) messages that are sent to / from the back office and to / from the swift network