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webMethods Solution for SWIFT®
Fast and cost-efficient integration with SWIFT
Global financial institutions have many critical business activities that require financial data communications and processing services with various third parties. SWIFT (Society for Worldwide Interbank Financial Telecommunication) offers a global financial network for financial institutions to exchange secure, well-formatted information with each other.
To quickly leverage the benefits of this financial network, institutions need integration and connectivity between their existing systems and SWIFT.
Software AG provides the most comprehensive support for SWIFT connectivity and back-end system integration to allow financial institutions to optimize business activities such as payments, securities, treasury and trade services.
Before institutions connect to SWIFTNet® and send/receive Financial (FIN) messages, numerous steps and procedures take place across multiple internal systems to complete the business process. Software AG can automate these steps and procedures through integration of back-end systems and applications.
Our other value-added capabilities include real-time monitoring of these steps and systems, automated handling of process exceptions, and personalized data views for end users.
Key benefits
Payments
Software AG meets the needs of banks to settle crossborder payments and settlements and supports the bank-to-bank payments segment that now includes settlements related to securities transactions and other processes.
Securities
Software AG facilitates Straight-Through Processing (STP) and risk management across the entire transaction chain with SWIFT securities messages.
Treasury
Software AG’s support for Continuous Linked Settlement (CLS) through back-end integration helps financial institutions reduce risks associated with cross-currency transactions.
Trade services
Software AG facilitates STP of trade services, including automation of collection, cash letters, documentary credits and guarantee processing.
Corporate connectivity
Software AG enables corporate customers to communicate with their banks by integrating their systems with SWIFTNet via Member Administered Closed User Groups (MACUGs).
SWIFT STP capabilities
Message transformation
Easy-to-use mapping tool creates mappings from any source format to any target format. It goes beyond just the tag names of SWIFT messages by showing the logical names as well as the sub-fields.
Message archival
All inbound and outbound messages can be archived before or after transformation and for any period of time.
Message types & standards
Our solution supports all message types that are used by the FIN service, including the ISO 7775, ISO 15022, and ISO 20022 message types.
Data dictionary approach
All syntax validation rules associated with the fields are configured in the data dictionary. Changes in the data dictionary fields and validation rules are automatically reflected and applied to all messages at runtime. Our data dictionary is based on the ISO 15022 standard.
Flow control & monitoring
Software AG’s system management and monitoring capabilities proactively control and monitor message flows.
Exception handling
Financial institutions can automatically or manually resolve exceptions and errors and also can view and edit messages that may cause exceptions during processing.
SWIFTNet connectivity options
SWIFTAlliance Access (SAA) Integration
Software AG supports two ways to connect to SAA. (1.) Automated File Transfer (AFT) is through our core file transfer and handling mechanism. And (2.) MQSeriesAdapter (MQSA).
SWIFTAlliance Gateway (SAG) integration
We support two ways to connect to SAG. (1.) File Transfer Agent (FTA) text is through our core file transfer and handling mechanisms. And (2.) MQSeries Host Adapter (MQSHA).
SWIFTNet Link (SNL) integration
We support SNL through SAA and/or Software AG interoperability between financial institutions.
Count on the webMethods suite for:
Robust system integration
Our proven integration capabilities connect a wide variety of financial institutions’ back-end systems with those of their customers and business partners.
Business process modeling
We enable financial institutions to graphically model and orchestrate business processes to automate system-to-system interactions and manual human workflows.
Business activity monitoring
We monitor processes in real time and alert end-users to problems that may affect business service levels. We also link process information to KPIs for financial institutions to manage their business in real time.
Personalized data views & access
We offer a robust application development environment to create composite views of disparate data. Through personalized views into real-time information, end-users at financial institutions are better able to serve customers.
