WGZ BANK decides for Swissrisk’s FinTRACE for Automation of Financial Investigations

25 October 2010

WGZ BANK Germany, has decided to automate the investigation process for payment transactions with Swissrisk Financial Systems’ solution "FinTRACE". The system will be used to automate the exception case management process in a multi entity environment at WGZ-BANK. WGZ BANK handles the clearing and settlement for more than 200 banks which will be connected to the system. FinTRACE will replace manual investigation supporting SWIFT, Email and Fax channels. A major part of the implementation will cover "SWIFTNet Exceptions and Investigations", a new ISO20022 XML-based workflow which will sets 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.

Martin Holtmann, Senior Vice President and Head of Product Management Payment Service Division stated, "Our drive to improve process efficiency and to best serve our customers led us to decide for FinTRACE. Our decision was based on FinTRACE's high level of business functionality and flexibility as well as its compliance with SWIFT standards and rulebooks. A combination of the solution, the service offering and the team competence has made the overall proposal from Swissrisk very attractive for us."

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 WGZ Bank. The application features the concepts of a central electronic case management together with a tight integration into the customer´s application landscape. We are happy to have WGZ Bank, a leading financial institution in Germany, among our customers"

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development