Raiffeisen International decides for Swissrisk’s FinTRACE for Automation of Financial Investigations

30 July 2009

Vienna based Raiffeisen International Bank-Holding AG, a part of RZB Group, has decided to automate the investigation process for financial transactions with Swissrisk Financial Systems’ solution "FinTRACE". The system will be used group-wide by 15 network banks in Central and Eastern Europe. FinTRACE will replace manual investigation handling by a fully electronic case management process supporting SWIFT, Email, Fax channels, as well as a direct connectivity to Raiffeisen’s reconciliation application. A major part of the implementation will cover "SWIFTNet Exceptions and Investigations", a new ISO20022 XML-based workflow which will set international standards for payment investigations.

FinTRACE is a fully rule-based case management system which is used by financial institutions to automate the investigation process for financial transactions, for example in the area of payments, securities and FX/Money Market. FinTRACE has a comprehensive web-based user front end and is SWIFT Ready certified for Exceptions and Investigations.

Pierre H. Brisse, General Manager of CRISP (Centralised Raiffeisen International Services & Payments SRL), the shared service centre established by Raiffeisen International in Romania, stated,"Our continued drive to best serve our customers and to stay at the forefront in the fast development of the payments industry led us to decide for FinTRACE. Our decision was based on FinTRACE's high level of functionality and flexibility and its strong association with SWIFT. The strong commitment of Swissrisk management to make this another successful implementation in our company was an additional deciding factor."

Dirk Vesper, VP Product Management at Swissrisk said,"FinTRACE is a flexible and powerful investigation case management system which fulfills all the different requirements coming from the complex environment of all Raiffeisen Group network banks. The application features the concepts of a central electronic case management together with a tight integration into the customer´s application landscape."

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