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X-Gen for SWIFT

X-Gen for SWIFT: The enterprise channel to SWIFTNet

New SWIFTNet services are changing everything
Sweeping changes in new SWIFT services have opened opportunity for businesses to make a qualitative leap forward in both service efficiency and service effectiveness for their clients and their own profitability.

Compliance to Real-Time Cash Reporting, E&I, SWIFTNet Funds, SEPA, connectivity protocols SAA and SAG plus FIN / ISO2022 XML – are driving demand for one over-arching solution incorporating SWIFT and non-SWIFT processes. You need a solution that simplifies SWIFTNet complexity, freeing businesses to focus on implementing and harvesting new SWIFTNet service opportunities.

SWIFT gold labeled solution: X-Gen
One of the few solutions developed specially for SWIFTNet is the financial business process automation engine X-Gen, certified SWIFT Ready Gold Label for Financial EAI.

X-Gen provides powerful legacy connectivity, message format handling, business transformation and validation, surrounded by built-in workflow engine and web based intervention portal. Fully XML based, X-Gen is 100% SWIFT ISO20022 XML compliant – the ideal application for end-to-end STP projects.

SWIFT and STP
All STP requires process design; SWIFT standards are designed to run as business processes. To execute these processes, more than simple interfacing and transformation tools are required. A powerful workflow engine to define and control STP processes – with all their unique characteristics and exceptions is.

STP means accepting your business reality. Not all processes can fully run in STP mode. When information is missing or incorrect, manual intervention applies. Web based message display, message entry and message repair functions are essential for SWIFT STP. SWIFT messages may be technically correct, but impossible to process due to semantics. X-Gen contains critical exception handling functionality logically integrated within its workflow design and validation rules engine.

SWIFTNet compliance
X-Gen supports all new SWIFT standards and connectivity options:

  • FIN (including ISO15022) standards for Payments and Securities Messaging
  • ISO20022 XML based messaging standards for new business solutions e.g. RealTime Account Information, Funds Distribution, SEPA, Target2, Cash Management and Exceptions & Investigations
  • Messaging protocols: InterAct RealTime, InterAct StoreAndForward and FileAct
  • Interface products such as SAA, SAG and 3rd Party Vendors
  • Interface protocols: MQSA, MQHA, RAHA and File based message transfer (FTA, FTI)

Implementation is the documentation
Documentation generation times can be drastically shortened because the graphical rule design can be applied to documentation. Users can add comments and graphical items to the rules, assured that X-Gen’s backend engine will separate real code from comments.

Business Monitoring with X-Gen
Efficient end-to-end STP requires an intuitive controller “dashboard.” Have you ever heard? “I want to see all pending transactions for a client.” X-Gen workflow generates complete audit trail allowing users to log the history of workflow and any business data which is relevant in the workflow. Users query the system using Web-Edit, the web-based portal front end of X-Gen, to retrieve, enter, approve and repair business objects. A role-based permission system restricts and distributes specific activities to specific users, i.e. only relevant activities for their business are visible.

100% Graphical Rule Design
Efficient processes require efficient designer tools. X-Gen ships with full graphical rule designer for development of workflows, transformations, data objects and presentation masks. This results in faster time to market with fewer errors. Also a graphical debugger allows to overlay the rule presentation with real operational values of data objects. Users quickly locate errors or misconfigurations within error tracking processes.

The ideal partner for successful SWIFT STP implementation
SWIFT business applications and implementations are a specialized service branch, even among global financial service providers. Without a deep understanding of the business processes behind it, technical IT skills and armies of consultants are not enough to ensure project success.

Swissrisk began implementing SWIFT STP projects over 10 years ago and has been a registered SWIFT Service Partner and SWIFT Solution Provider since 1999. Put our solution and professional experience to work for your global, regional or local STP projects.

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