The document provides an overview of SWIFT (Society for Worldwide Interbank Financial Telecommunications). Key points include:
- SWIFT is a co-operative society that operates a global financial messaging network for banks and other financial institutions.
- It was formed in 1974 when major banks discussed replacing Telex, which had limitations regarding speed, format, and security of financial messages.
- Today SWIFT connects over 11,000 institutions in over 200 countries and territories.
- SWIFT provides standards for financial message formats and network infrastructure to facilitate secure transmission of payment and other messages.
This white paper outlines how the functionality provided by Transformer from Trace Financial can greatly assist in managing the difficulties of integrating diverse and complex message
standards, with specific relevance to SWIFT message handling.
Peter Afanasiev - Architecture of online PaymentsCiklum Ukraine
Payment Service Providers
Merchant Payment Systems
General architecture of a Payment System
Know-hows:
Payment queues with MSSQL Broker
Adapter Polymorphism
Tracing in Service Oriented World
Dynamic configuration editor with ASP.Net MVC
Hardware-software complex to manage accounts, e-wallets, payment and loyalty cards in single application.
Advantages for Clients:
- Mobile platform, turning a smartphone into a powerful payment and loyalty tool
- Online Р2Р transactions
- One-click payments
- Simple and secure authorization
- Access to financial services for underbanked population
Advantages for Bank:
- Affordable tool for day-to-day banking operations, which is an essential competitive advantage to attract the most economically active and technologically advanced clients, making the most profitable market segment
- Saving costs on performing payment and transfer transaction in the Bank’s branches
www.mwallet.pro
www.m-processing.com
This white paper outlines how the functionality provided by Transformer from Trace Financial can greatly assist in managing the difficulties of integrating diverse and complex message
standards, with specific relevance to SWIFT message handling.
Peter Afanasiev - Architecture of online PaymentsCiklum Ukraine
Payment Service Providers
Merchant Payment Systems
General architecture of a Payment System
Know-hows:
Payment queues with MSSQL Broker
Adapter Polymorphism
Tracing in Service Oriented World
Dynamic configuration editor with ASP.Net MVC
Hardware-software complex to manage accounts, e-wallets, payment and loyalty cards in single application.
Advantages for Clients:
- Mobile platform, turning a smartphone into a powerful payment and loyalty tool
- Online Р2Р transactions
- One-click payments
- Simple and secure authorization
- Access to financial services for underbanked population
Advantages for Bank:
- Affordable tool for day-to-day banking operations, which is an essential competitive advantage to attract the most economically active and technologically advanced clients, making the most profitable market segment
- Saving costs on performing payment and transfer transaction in the Bank’s branches
www.mwallet.pro
www.m-processing.com
What payment is? What Payment Gateway/ Payment aggregator is?
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The presentation provides an basic overview on the payment card industry from history to future technology adoption. Work in progress for in-depth presentation.
4 way recon solution for ATM,POS,Recyclers,Mobile banking, Internet banking,etcPratap Parab
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This study notes will give you the complete knowledge about Centralized Online Real-Time Environment Banking System. From initially required knowledge to like how the bank works with the list of primary operation it also explains the detailed architecture of banking system with all relevant parameters. In addition, it also gives you the detail like audit procedure with relevant controls. Also gives you the required knowledge of IT Act and Cyber Frauds and more.
National Automated Clearing House (NACH) an Overview by VSoftVSoft Technologies
VSoft Technologies a leading Banking and Payments solutions provider for banking and Financial Institutions gives an over view of Cetrum Mandate enabled ACH Payments System and NACH platform of NPCI.
Overview of Data Analytics in Lending BusinessSanjay Kar
AI/ML use cases
BFSI industry overview
Lending Products
Underwriting Strategy
Customer Lifecycle Management
How to prepare for becoming a banking analyst
Materials to study for statistics
What is fintech?
What is a Credit Bureau?
Books for statistics
Tools for data science
Techniques for data science
Are you in the money transfer business? We at RemitONE have the complete money transfer solution for you: proven & compliant technology platforms, assistance with license & regulation and instant access to all the continents.
Whether you are a bank, money transfer operator, mobile virtual network operator, post office or a startup company, you can claim your stake in the trillion dollar industry. You can run your entire remittance, foreign exchange and mobile top-up operations from your RemitONE platform.
We have money transfer solutions for all types of organisations. With compliance in mind, we have built several products to help you rapidly reach out to your customers through multiple channels, including agents, airtime, EFTPOS terminals, FX stations, kiosks, mobile phones, online portals and prepaid cards.
Our products are supported on multiple platforms and devices – Linux, Windows, iOS and Android.
We can rapidly setup your money transfer system and you can be operational almost instantly. You can use our products as Software-as-a-Service (SaaS) or buy the license to use them indefinitely.
We provide 24 x 7 support, including a dedicated engineer on weekends. It does not matter where your business is based, or where your send or payout agents are located. You can ensure KYC and AML compliance across the globe with your RemitONE platform.
If you are a startup and struggling with your money service business license or bank account, RemitONE Consulting can help you.
You can rapidly expand in over 100 countries, increase your transaction volumes by over 100% every quarter, get connected with industry leading banks and MTOs across the globe - all through your RemitONE platform.
You can reach out to customers via agents, ATMs, EFTPOS terminals, kiosks, online portals and mobile phones – even in areas with no Internet connectivity. You can automate your compliance rules; set amazing promotions and discounts for your customers; market your special commissions and exchange rates; manage your accounting in a streamlined manner and connect with our RemitONE community of businesses like you from around the world.
Contact RemitONE today...
Get connected. Get empowered.
RemitONE - Empowering Remittance
Supply Chain Finance: Win-Win Working Capital Benefits for Buyers and SuppliersSAP Ariba
When a buyer’s working capital and cash flow management objectives conflict with those of their suppliers, it can create tension and increase supply chain liquidity risk. In this session, you will learn how Ariba Supply Chain Finance can deliver working capital and cash flow benefits to both trading partners and, in the process, reduce supply chain liquidity risk.
IT Consultant - Intellimatch/Recon/ERPSanjay Kumar
16+ years of hands-on experience in analysis, design, development and implementation of IT solutions with 6+ years in reconciliation domain. Specializing in Reconciliation Products (Frontier Recon/IntelliMatch/ERP), process standardization and automation, application development, Business Object, SQL-Server, SSIS.
What payment is? What Payment Gateway/ Payment aggregator is?
How PG/Aggregator to be selected/charges/make money?MID & LiveID. What is Transaction, Refund? What are the Risk their understanding? What are Payment Pages, how to save cards, transaction routing & integration?
The presentation provides an basic overview on the payment card industry from history to future technology adoption. Work in progress for in-depth presentation.
4 way recon solution for ATM,POS,Recyclers,Mobile banking, Internet banking,etcPratap Parab
4 way recon solution for ATM,POS,Recyclers,Mobile banking, Internet banking,etc for end to end settlement, chargeback, representment and incident cycle
This study notes will give you the complete knowledge about Centralized Online Real-Time Environment Banking System. From initially required knowledge to like how the bank works with the list of primary operation it also explains the detailed architecture of banking system with all relevant parameters. In addition, it also gives you the detail like audit procedure with relevant controls. Also gives you the required knowledge of IT Act and Cyber Frauds and more.
National Automated Clearing House (NACH) an Overview by VSoftVSoft Technologies
VSoft Technologies a leading Banking and Payments solutions provider for banking and Financial Institutions gives an over view of Cetrum Mandate enabled ACH Payments System and NACH platform of NPCI.
Overview of Data Analytics in Lending BusinessSanjay Kar
AI/ML use cases
BFSI industry overview
Lending Products
Underwriting Strategy
Customer Lifecycle Management
How to prepare for becoming a banking analyst
Materials to study for statistics
What is fintech?
What is a Credit Bureau?
Books for statistics
Tools for data science
Techniques for data science
Are you in the money transfer business? We at RemitONE have the complete money transfer solution for you: proven & compliant technology platforms, assistance with license & regulation and instant access to all the continents.
Whether you are a bank, money transfer operator, mobile virtual network operator, post office or a startup company, you can claim your stake in the trillion dollar industry. You can run your entire remittance, foreign exchange and mobile top-up operations from your RemitONE platform.
We have money transfer solutions for all types of organisations. With compliance in mind, we have built several products to help you rapidly reach out to your customers through multiple channels, including agents, airtime, EFTPOS terminals, FX stations, kiosks, mobile phones, online portals and prepaid cards.
Our products are supported on multiple platforms and devices – Linux, Windows, iOS and Android.
We can rapidly setup your money transfer system and you can be operational almost instantly. You can use our products as Software-as-a-Service (SaaS) or buy the license to use them indefinitely.
We provide 24 x 7 support, including a dedicated engineer on weekends. It does not matter where your business is based, or where your send or payout agents are located. You can ensure KYC and AML compliance across the globe with your RemitONE platform.
If you are a startup and struggling with your money service business license or bank account, RemitONE Consulting can help you.
You can rapidly expand in over 100 countries, increase your transaction volumes by over 100% every quarter, get connected with industry leading banks and MTOs across the globe - all through your RemitONE platform.
You can reach out to customers via agents, ATMs, EFTPOS terminals, kiosks, online portals and mobile phones – even in areas with no Internet connectivity. You can automate your compliance rules; set amazing promotions and discounts for your customers; market your special commissions and exchange rates; manage your accounting in a streamlined manner and connect with our RemitONE community of businesses like you from around the world.
Contact RemitONE today...
Get connected. Get empowered.
RemitONE - Empowering Remittance
Supply Chain Finance: Win-Win Working Capital Benefits for Buyers and SuppliersSAP Ariba
When a buyer’s working capital and cash flow management objectives conflict with those of their suppliers, it can create tension and increase supply chain liquidity risk. In this session, you will learn how Ariba Supply Chain Finance can deliver working capital and cash flow benefits to both trading partners and, in the process, reduce supply chain liquidity risk.
IT Consultant - Intellimatch/Recon/ERPSanjay Kumar
16+ years of hands-on experience in analysis, design, development and implementation of IT solutions with 6+ years in reconciliation domain. Specializing in Reconciliation Products (Frontier Recon/IntelliMatch/ERP), process standardization and automation, application development, Business Object, SQL-Server, SSIS.
This talk was originally presented at CocoaHeadsDC meetup on July 10th, 2014. It is an introduction to Apple's new programming language - Swift.
Contact me on Twitter at @NatashaTheRobot
Treasury Transformation: From Operational to StrategicGTreasury
The completion of a Treasury Management System implementation does not also mean the end of strategic change you can offer the organization. You likely worked very hard to achieve important victories in your original TMS project, but it should not end there. It’s a well-worn adage that the only constant is change, but you must be prepared to leverage the technology you have implemented to lead that change. Treasury does not have to be a bystander constantly playing catch-up to the rest of the organization.
Some basic information and concepts about designing user interface on iOS and Android.
Help designers to quickly have knowledge about how to start and what to prepare when designing app interface on iOS and Android.
This presentation is about ,
Frame pointers and backtrace structures,
Normal program flow vs. exceptions,
Exceptions vs. interrupts,
Software Interrupts,
What is an SWI?,
What happens on an SWI?,
Vectoring SWIs,
What happens on SWI completion?,
What do SWIs do?,
A Complete SWI Handler,
A C_SWI_Handler (written in C),
Loading the Software Interrupt Vector Table,
How Hot is My Coffee? Sensors, Core Bluetooth, and Swift!Evan Stone
Fitbit, Withings, Nest. The Internet of Things (IoT) innovation tidal wave has just begun, and those are just three of the more well-known players in the IoT and connected gadget landscape. It’s critical that iOS developers know how to connect and interact with BLE prototyping devices using the Core Bluetooth Framework provided by the iOS SDK. In this session, you’ll get the jump-start you need to begin creating engaging apps that bring these devices to life.
Exploring Payment Platforms - ISO 20022 and ISO 8583PECB
Have you thought about the process of communication in the financial institutions? On this webinar, we go over the importance of standards ISO 20022 and ISO 8583 and how it can help financial institution to create reports that are useful to all interested parties.
Main points covered:
• ISO 20022 and its importance on the financial communication.
• ISO 8583 and its usage on the most credit and debit card transaction.
• How can these two standards leverage to effectively manage the financial transactions and data?
Presenter:
This webinar was presented by Orlando Olumide Odejide. He is a PECB Certified Trainer and an experienced Enterprise Architect and Programme Director working on various technology solutions. His expertise spans to various ISO standard such as ISO 27001, ISO 20000 and ISO 22301, COBIT, CMMI, TOGAF, PRINCE2, ITIL.
Link of the recorded session published on YouTube: https://youtu.be/Ilx6isDrXEU
How does works trace swift messaging servicesTrace Software
The best Services in Swift Messaging Services now in India Trace Software. Today, We are handling many Projects in many Different Countries Like- USA, U.K, UAE, Europe, Asia and the Services are Mobile Apps Development, Software Development and Product Development, Offshore and Outsourcing, Website Designing, Software Testing. For more Queries Contact us:- info@tracesoftware.in
XMPP and SIP Presence Protocols for Messaging and Session Control.pptxGSCWU
XMPP is the Extensible Messaging and Presence Protocol, a set of open technologies for instant messaging, presence, multi-party chat, voice and video calls, collaboration, lightweight middleware, content syndication, and generalized routing of XML data.
XMPP was originally developed in the Jabber open-source community to provide an open, decentralized alternative to the closed instant messaging services at that time
The Session Initiation Protocol is a signaling protocol that enables the Voice Over Internet Protocol (VoIP) by defining the messages sent between endpoints and managing the actual elements of a call. SIP supports voice calls, video conferencing, instant messaging, and media distribution.
Unit 1 Intersystem CommunicationsCOP4858 PROGRAM & TECH ENH.docxwillcoxjanay
Unit 1: Intersystem Communications
COP4858 PROGRAM & TECH ENHANCED 463773
Gilbert Mancilla
Hughval Williams
Define the role of Distributed Component Object Model (DCOM), CORBA and Remote Method Invocation (RMI), in distributed processing.
DCOM enables component applications to operate across the Internet
Speeding development
Lowering integration costs
Improving deployment flexibility
Cobra
COBRA owned by Object Management Group OMG is middleware
CORBA Interface Definition Language IDL provides the language- and
OS-neutral inter-object commication it supports the construction and
integration of object-oriented software components in mixed
distributed environments. object request broker
Cobra’s client to object implementation
Remote Method Invocation
RMI provides ORB functionality that is fully integrated with the Java language and runtime environment. Unlike CORBA, however, the RMI
ORB is fully integrated with the Java language and runtime environment.
Cobra vs RMI
B) Describe how web services are used to integrate disparate applications in an organization: for example, describe the role of the WSDL Web Service Definition Language, SOAP Simple Object Access Protocol, and UDDI Universal Description, Discovery and Integration ,architectures in creating and using web services.
WSDL ( Web Service Definition Language)
WSDL is a document written in XML. The document describes a Web service. It specifies the location of the service and the operations (or methods) the service exposes.
Web service as collections of network endpoints or ports
Messages are abstract descriptions of data being exchanged
Port types are abstraction collection of operations
Concrete protocol and data format specification for a particular port type constitutes a binding
SOAP
SOAP is an XML based protocol for accessing Web Services.
SOAP stands for Simple Object Access Protocol
SOAP simply a procedural call
SOAP is a stateless protocol
SOAP Body
SOAP
SOAP
header
SOAP envelope
Header
block
Header
data
Header
data
Header
data
Body child element
Body child element
11
UDDI (Universal Description, Discovery and Integration)
UDDI is a platform-independent framework for describing services.
It’s a directory service where companies are in search of web services.
UDDI uses WSDL to describe interfaces to web services
SOAP, WSDL and UDDI together make systems flexible
Together is more of a declarative type of programming
UDDI working with WSDL AND SOAP
C) Describe the role of socket programming in communicating between systems and
contrast the protocols and uses of TCP/IP sockets and Datagram sockets.
A socket is one of the most fundamental technologies of computer networking. Sockets allow applications to communicate using standard mechanisms built into network hardware and operating systems.
Three socket types are available:
Stream sockets provide a bidirectional, reliab ...
Ocean Systems briefly summarizes their highly intuitive FedLink Wire Transfer Core System. The FedLink system is a scalable wire transfer software solution that integrates various modules to automate, simplify, and comply with all compliance and wire transfer related requirements.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
2. 1. Introduction
2. SWIFTReady
3. SWIFT Addresses
4. SWIFT Messages
5. SWIFTNet
6. SWIFT Reformatters
7. SWIFT Hands-On
2
3. 01
• SWIFT stands for Society for Worldwide Interbank Financial
Telecommunications.
• It is a co-operative society.
• The objective of the Company is for the collective benefit of the
Members of the Company, the study, creation, utilization, and
operation of the means necessary for the telecommunication,
transmission and routing of private, confidential, and
proprietary financial messages.
• SWIFT operates a worldwide financial messaging network which
exchanges messages between banks and other financial
institutions.
3
4. 01
• The Society’s headquarters are situated in La Hulpe, on the
outskirts of Brussels.
• SWIFT was formed when seven Major International Banks met in
1974 to discuss the limitations of Telex as a means of secure
delivery of payment and confirmation information.
• SWIFT standards came in picture as Telex suffered from a
number of limitations due to its speed, its free format, and the
lack of security.
• Today, SWIFT is an industry-owned cooperative supplying secure
messaging services and interface software to over 7,000
financial institutions in 194 countries.
4
5. 01
• Originally the network was designed to support the
requirements of Treasury and Correspondent banking
operations, it has over the years allowed other institutions
access to the services.
• Currently the following categories of organization can access
the service:
1. Banks
2. Trading Institutions
3. Money Brokers
4. Securities Broker Dealers
5. Investment Management Institutions
6. Clearing Systems and Central Depositories
7. Recognized Exchanges
8. Trust and Fiduciary Service Companies
9. Subsidiary Providers of Custody and Nominees
10. Treasury Counterparties
11. Treasury ETC Service Providers
5
6. 01
• The society is owned by its Members, and in order to become
the member of the organization one must hold a Banking
License. In return Members own shares in the society and have
voting rights.
• All classes of member pay an initial joining fee and an annual
support charge.
• Users are charged on a per message basis by Unit lengths of
325 or 1950 chars, dependent on message type.
6
7. 01
SWIFT operates a number of services, primarily:
• GPA: General Purpose Application, which only allows system
messages, i.e. Messages from a user to SWIFT and vice versa,
not from one user to another.
• FIN: Financial Application, which is the user to user service
comprising, System Messages MT0nn, User to User Messages
MT1nn through 9nn and Service Messages such as
Acknowledgements.
7
9. 02
Scrum Introduction Across Industries (1)
• SWIFTReady labeling, introduced in 1998, provides a formula for
benchmarking third party products that interact with messages
that flow over the SWIFT network.
• SWIFTReady labels identify products that are SWIFT-compliant,
integrate efficiently in a SWIFT environment, increase traffic
automation and improve straight-through processing (STP).
• SWIFT annually recognizes solutions from independent software
vendors according to their compliance with SWIFT standards,
their efficient integration with the SWIFT environment, and their
contribution to improving industry STP.
• SunGard is a global leader in providing S.W.I.F.T.-enabled
solutions for straight-through processing. S.W.I.F.T. is
recognizing– through the several Gold and Silver ‘SWIFTReady’
labels - the value SunGard applications (intelliMATCH) offer to
the customers.
9
11. 03
• SWIFT addresses are used to not only indicate the final
destination of the message but to also indicate parties within
the individual message.
• It is the use of strictly codified addresses that enables the
automation of Straight through Processing in conjunction with
the fixed tag format of the messages themselves.
• The term "SWIFT address" actually only relates to a subset of
Bank Identifier Codes (BICs),
11
12. 03
General Format of SWIFT Address:
AAAA BB CC (D) (EEE)
Bank Country Location LT Branch
• The first four characters represent the Bank code, for example NWBK
(NatWest), DEUT (Deutsche Bank).
• The next two characters represent the ISO Country code, for example GB
(United Kingdom), DE (Germany).
• The next two characters are the location code with some larger financial
centers such as London and New York having two, 2L and 22, 33 and 3N
respectively.
• The presence of 0 (zero) in position 8 indicates that this is a test &
training address. Test & Training is a facility which SWIFT gives its users
to test new releases without interfering with live operations.
12
13. 03
• Optionally a three character branch code can be added at the end of the
address. For example NWBKGB2LBIR might be the Birmingham branch.
These codes are primarily used for internal routing purposes within the
bank, as the branches themselves do not have direct connection.
• The Logical Terminal ID in position 9 will be present in the header of the
message and identifies a logical channel connection to SWIFT.
• The presence of a 1 in position 8 denotes that this is not a SWIFT
address but the organization has requested that an ISO identifier be
allocated to them. For example NWBKGB21. Therefore, this address can
be included in the body of a message but you cannot send a message
via SWIFT to them.
• The presence of an X in position 8 denotes that the CBT which is
processing traffic for this address is not physically in the same country
as the Country Code states.
13
15. 04
• SWIFT processes information (i.e., data, text, or commands) in the form
of messages.
• SWIFT initially offers two applications –
• GPA (General Purpose Application which controls how users communicate
within SWIFT ) and
• FIN (Financial Application which controls the user to user messaging facilities
within SWIFT ) – which together provide all of the messaging functions and
facilities available to users.
• A validation error in the application header, text or trailer block will
result in a negative acknowledgment (NAK) indicating the reason for
rejection.
• Each message received by the system is examined to determine whether
it conforms to the format specification for that message type.
15`
16. 04
The sequence in which the various parts of a SWIFT message are validated is
as follows:
{1: Basic Header Block}
{2: Application Header Block}
{3: User Header Block}
{4: Text Block}
{5: Trailers Block}
Note: At the first validation failure, the appropriate error procedure is
carried out (either session abortion or negative acknowledgment) and
no further validation is performed on the message.
16
17. 04
• All SWIFT messages conform to a defined block structure.
• Each block of a message contains data of a particular type and is used for a
particular purpose.
• Each block of message begins and ends with a curly bracket (or brace) character "{"
and "}" respectively.
• All main blocks are numbered, and the block number followed by a colon (:) are
always the first characters within any block.
• The type of SWIFT message will determine the maximum length allowed for the
particular message.
• Each main block is sub-divided into a number of fields and each field contains
particular information (e.g., date, time, LT address, session number, ISN, or a tag
number followed by the appropriate variable content).
• All message text within the Text block (block 4) begins with Carriage Return and
Line Feed (CrLf) and ends with CrLf followed by a hyphen (-). Each field within the
text begins with a tag number followed by a colon, followed by the appropriate
variable content.
17
18. 04
The following is an example of a basic input header:
{1: F 01 BANKBEBBAXXX 2222 123456}
A B C D E F
• "A" Block Identifier: Block identifier for a basic header block is always "1:".
• "B" Application Identifier: The application identifier identifies the application
within which the message is being sent or received. The available options are:
o F=FIN (all user-to-user and FIN system messages) used for ISITC)
o A=GPA (most GPA system messages and commands)
o L=GPA (certain GPA session control commands, e.g., LOGIN,
LOGIN acknowledgments, ABORT)
18
19. 04
The following is an example of a basic input header:
{1: F 01 BANKBEBBAXXX 2222 123456}
A B C D E F
• "C" Application Protocol Data Unit Identifier: The Application Protocol Data Unit
(APDU) Identifier consists of two numeric characters. It identifies the type of data
that is being sent or received and, in doing so, whether the message which follows
is one of the following:
o User-to-user message
o System message
o Service message, e.g., a session control command (such as SELECT)
o Logical acknowledgment (such as ACK/SAK/UAK).
• "D" LT Address: This 12-character SWIFT address, given in the basic header
block, is the address of the sending LT (for input messages) or of the receiving the
LT (for output messages).
19
20. 04
The following is an example of a basic input header:
{1: F 01 BANKBEBBAXXX 2222 123456}
A B C D E F
• "E" Session Number: The session number identifies the session in which the
message was transmitted. Within the basic header, the session number (four
digits) is the user's current GPA or FIN session number. ("0000" - ISITC)
• "F" Sequence Number (ISN or OSN): The sequence number always consists of
six digits. It is the ISN of the sender's current input session or the OSN of the
receiver's current output session. ("000001" - ISITC)
20
21. 04
Application Header – Input: For input messages, the application header describes the
type of message, whom it is for and how it should be sent.
{2: I 100 BANKDEFFXXXX U 3 003}
A B C D E F G
• "A" Block Identifier
• "B" Input/Output Identifier
• "C" Message Type: The message type consists of three digits which define the
MT number of the message being input. The example used above is for a
Customer Transfer (MT 100).
• "D" Recipient's Address: This address is the 12-character SWIFT address of the
recipient of the message, but with a Logical Terminal Code of "X". If defines the
destination to which the message should be sent.
• "E" Message Priority: This character (used within FIN application headers only)
defines the priority by which a message shall be delivered. The possible values
are:
· S = System
· U = Urgent
· N = Normal
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22. 04
Application Header-Output: For output messages, the output application header
defines the type of message, who sent it (and when), and when it was delivered.
{2: 0 100 1200 910103BANKBEBBAXXX2222123456 910103 1201 N}
A B C D E F G H
• "A" Block Identifier
• "B" Input/Output Identifier
• "C" Message Type
• "D" Input Time: The input time (HHMM) is expressed in the sender's local time.
• "E" Message Input Reference (MIR): Every input message is assigned a unique
Message Input Reference (MIR). This is a string of 28 characters which consists of
the date the message was input (local to the sender), the sender's LT identifier and
branch code, the sender's session number and sender's ISN.
• "F" Output Date: The output date (YYMMDD) is the date local to the receiver.
• "G" Output Time: The output time (HHMM) is expressed in the receiver's local
time.
• "H" Message Priority: The message priority, for FIN messages only, is repeated in
the FIN output application header. ("N" - ISITC default, no priority)
22
23. 04
• The user header is an optional header available within the FIN application and is
available for user-to-user messages only. This header block is mandatory as it is
utilized to identify the version of the message standard applicable for processing
and validating the particular message to which the header applies.
{3: {113:9601} {108:abcdefgh12345678}}
A B C
• "A" Block Identifier
• "B" ISITC Version Identifier: A version/release represents a snapshot in time of the
status of the development and maintenance efforts of ISITC as of a specified
date. Up to two releases per year may be approved for implementation and are
identified by version control numbers. Tag 113 is used by ISITC to identify the
version of the standard that applies to the message.
• Version identifiers are four digits long and identify the year the version was
created (i.e. 1996 would be 96) as well as the version number (01 or 02) as there
are a maximum of two versions of the standard per year.
• "C" Message User Reference (MUR): Tag 108 defines a free-format field in which
users may specify their own reference of up to 16 characters of all the permitted
character set.
23
24. 04
An example of the text block in a typical FIN user-to-user message follows:
{4:
: 20: PAYREF- TB54302
: 32A:910103BEF1000000,
: 50: CUSTOMER NAME
AND ADDRESS
: 59:/123-456-789
BENEFICIARY NAME
AND ADDRESS
-}
• All Swift Text Messages have a maximum of 35 characters per line.
Note: This is the block we usually map with, in intelliMATCH.
24
25. 04
• General Trailers are added to a message for control purposes: or to indicate that
special circumstances apply to the handling of the message: or to convey
special/additional information. They may be added by the user or by the system.
For example, block 5 of a user-to-user message, sent with an authentication trailer
and checksum trailer, may appear as:
{5 :{ MAC: 41720873} {CHK: 123456789ABC}}
25
26. 04
CBT’s (computer-based terminal) communicating with SWIFT use EBCDIC code. The
character set is as follows:
a bcd ef g hi jk l mn op q r s tu v wx yz
ABCDEFGHIJKLMNOPQRSTUVWXYZ
0123456789
/ - ? : ( ). , ' + {}
Cr Lf Space
26
29. 05
• SWIFTNet is the latest version of SWIFT, which operates using Internet
Protocols, but still as a private network.
• It does not use the World Wide Web. It uses the same high level of
security based on Public Key Infrastructure that was used on the older
network, but now provides banks with a number of newer services,
some of which are browser-based.
29
30. 05
SWIFTNet provides the banks with following services:
• SWIFTNet InterAct Realtime: is a protocol designed and supported by
SWIFT. The protocol is used to exchange financial messages between
organizations connected to services on the network (using XML
standards )
• SWIFTNet InterAct Store and Forward: is a protocol designed and
supported by SWIFT. The protocol is used to exchange financial
messages between organizations connected to services on to the
network (using XML standards ). SWIFT stores the message centrally,
removing the need for the sender and receiver to be connected to the
network simultaneously, unlike SWIFTNet InterAct Realtime.
• SWIFTNet FileAct Realtime: the exchange of bulk messages (e.g. non-
urgent and low value payments)
• SWIFTNet FileAct Store and Forward: the exchange of bulk messages
(e.g. non-urgent and low value payments). SWIFT stores the message
centrally, removing the need for the sender and receiver to be
connected to the network simultaneously, unlike SWIFTNet FileAct
Realtime.
• SWIFTNet Browse: a secure browser for accessing account information
• Online payment initiation, payment tracking and status reporting (e-
Payments plus)
30
32. 06
There are three types of Reformatters available in intelliMATCH:
1. Swiftcpp.rfm: To create an import format for MT 100, 900, 910, 940, or 950, select
the SWIFTCPP reformatter. It is utilized to process Cash Statement and Advice
messages.
Reformats SWIFT Cash message data to a fixed-column width, space-delimited
data file.
The optional parameters for this reformatter are:
• -FlagRejects=Y: This option writes records normally sent to the *.ERR file to
the output file (.rfo file); those records have the text string “reject” appended.
You can also map the reject string so Recollector immediately writes all
rejected items to a batch file.
Note: The records with string ‘Reject’ will not be imported.
• –Bal62to64=Y: This option creates a Tag 64 from Tag 62 if one does not exist.
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33. 06
2. AllSwift.rfm: To create an import format for MT 103, 192, 202, 292, 320, 340, 341,
515, 535, 536, 540, 540-548, 574, 579, 971, select the ALLSWIFT reformatter.
Reformats all SWIFT messages by determining the type of message, then applying
the appropriate reformatting instructions.
Optional parameters in the form of SWIFT message numbers can be listed to direct
the reformatter to only process specified message types. If no parameters are
specified, all support messages will be processed.
3. Tradeswift2.rfm: Reformats a SWIFT data file’s securities messages to a fixed-
column width, space-delimited data file. This reformatter does not require any
parameters.
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34. 06
The ALLSWIFT or SWIFTCPP reformatter reads your SWIFT file and:
• Removes non-printable characters (such as carriage returns and tabs)
• Interprets SWIFT codes as tags
• Concatenates multi-line fields (without carriage returns) and re-writes them on a
single line
• Re-writes the data in a fixed-column-width, space-delimited format that
Recollector can read
• The output file of the reformatter has the .RF0 extension. It is this .RF0 file that
Recollector actually imports into the IntelliMATCH database.
• Once you have an .RF0 file for your SWIFT cash data, you can create a custom
import format based on the data’s layout.
• Recollector automatically creates an error file for each reformatter if the
reformatter determines that a SWIFT import file does not conform to SWIFT
standards. Use a text editor to view the error file.
34
35. 06
Commonly used SWIFT Tags:
Tag Record Option Selected
20 Statement Reference (not Deselect all options
normally mapped)
25 Account No. Deselect all options
28 Statement No. and Page Deselect all options
No.
60 Opening Balance Deselect all options
61 Items Check ‘Add a record for this Tag’ check
box
62 Closing Balance Check ‘Add a balance for this Tag’ check
box
More Tags:
35
36. 06
Basics:
• Earlier, with every new SWIFT message released, the Sungard was forced to write a
new reformatter to accommodate the new SWIFT file.
• With the release of AllSwift.rfm, it will determine the SWIFT message type that we
are reformatting, and then will open up the appropriate .ini file which will contain
the information on how to reformat the SWIFT file.
36
37. 06
Determining the current swift message
The :20: section of the swift message contains the current message type. Our current
swift reformatters use the function GetMessageType to determine the current
function to call.
We will now use the information in the :20: section of the swift message to open an .ini
file of the same name and read in the formatting information.
e.g.,
:20:9400101178032602 = 940 message type. The file 940.ini would be opened.
The .ini file must be located in the same directory as the AllSwift.rfm reformatter.
Any swift message that we attempt to process and does not have an appropriate *.ini
file will fail.
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38. 06
The .ini file will have the following sections:
• Text Comments, version number and any changes made to the .ini
file.
• [TAG DATE] Instructs the reformatter how to format dates.
The tag date section has the heading [TAG DATE]. The entry for this section is Date=<date
format>, where <date format> is as follows:
%y = 2 digit year
%Y = 4 digit year
%d = day
%m = month
Using the formula %m/%d/%y would yield 03/05/01 for March 5, 2001.
• [HEADER] How to process information in the header.
HH2940
• [DEFAULT] Defines the number of characters for output if the function does not exist,
i.e. buffer.
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39. 06
• [TAG ORDER#] The order the tags will be read in the swift message, and whether the tags
are mandatory (M) or optional. (O).
A tag order entry is set up as follows:
<tag name (s)> M|O|# [<Default buffer>] [<function name (s)]
Tag name (s) refers to one or more tag names that may be present on this line. Tags should
begin and end with a semicolon. If a swift tag is defined as 83 A,C or D, then the tag name (s)
section would read :83A: :83C: :83D:
Immediately following the tag name (s) is a flag indicating whether the tag is mandatory,
optional or optional leading to a subsequence. The letter M indicates a mandatory tag, where
the reformatter will reject the message if the tag is missing. The letter O indicates a tag which
may or may not exist. A number indicates that this tag is optional, however if it exists then we
are to jump into the tag order section indicated by this number. If we have a repeating
sequence, then the number would be the same as the current tag order.
As an option you can set a default buffer for the function to be called by this tag. By using the
letter B followed by a number we will set up the default buffer. This will be explained in the Tag
Format section.
The function names will indicate what function to call to process this row. If this parameter is
empty, then we skip this row in the file. There must exist one function for each possible tag
name. Function names must start with the letter “F”. If there is more than one tag name then
the first tag name will call the first function, the second tag name will call the second function
and so on.
39
40. 06
Sample Tag Order Entries
:20: M F20 Tag :20: is mandatory and will be processed by function F20
:15B: O Tag :15B: is optional and will not be processed
:30V: 2 Tag :30V: is optional and will jump to tag order 2
:82A: :82D: M B9 FA FD Either Tag :82A: or :82D: is required, we jump to either function FA or FD and
use buffer 9 as the default buffer for this function.
• [TAG FORMAT] The function definition for each tag, which defines how to reformat a
particular Tag.
The tag format section of the .ini file describes the processing that will take place for each tag. Each
entry will have the function name and the function definition where the two are separated by a
space.
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42. 07
SWIFT Basics
For SWIFT files, map formatter/attributes on tag-by-tag basis.
Tags in SWIFT Cash files are 2 characters long; usually they are 2-3 characters
long.
MMO is Ledger (L) and Statement (S) indicator and is mandatory for SWIFT files.
In .CSV files, we don’t have balances but in SWIFT files, we do have.
In order to be SWIFT certified, one user-defined class is mandatory.
ISN, ISIN, CDIN are indicators for Security ID.
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43. 07
Identify the Message Type (type of SWIFT File/Message to import) and Reformatter:
1. Swiftcpp.rfm: To create an import format for MT 100, 900, 910,
940, or 950, select the SWIFTCPP reformatter.
2. AllSwift.rfm: To create an import format for MT 103, 192, 202,
292, 320, 340, 341, 515, 535, 536, 540, 540-548, 574, 579,
971, select the ALLSWIFT reformatter.
3. TradeSwift.rfm: To create an import format for securities
messages.
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44. 07
Create a Formatter using the appropriate Reformatter:
1. Map all the mandatory fields
For Cash Items:
• Company
• Account
• Amount
• Class
• DCIP
• Date (posted/issue or available/paid)
• Serial number (check items only)
For Cash Balances:
• Account
• Balance
• Date
• Company
• Debit/Credit
44
45. 07
2. Import Format Options:
Set Tag Length to 2
Strip Non-pintables
45
47. 07
4. Format Tags and Fields:
Give Name of appropriate Tag
Set Default Start Line
Check ‘Add a record for this tag’
47
48. 07
5. Field Map - Location:
Select the appropriate Tag from the drop down (for every field)
48
49. 07
Import the data into IntelliMATCH
Import the SWIFT file into intelliMATCH database
Matching
Match the imported SWIFT file in intelliMATCH
49