Ready Built Payments and Statements Mappings
The Prevention of Money laundering Act, 2002 and the Rules there under requires every reporting entity (banking company, financial institution and intermediaries) to furnish reports for all SWIFT transactions.
Maintainance of transaction records in such a manner as to enable it to reconstruct individual transactions, to furnish to the Regulator.
Attempted and executed transactions.
The nature and value of prescribed transaction.
Verify the identity of its clients.
Identify the beneficial owner along with detailed proofs.
Maintain record of communications, documents evidencing identity of its clients and beneficial owners.
Account files and business correspondence relating to its clients.
Records with audit to be maintained for a minimum period of 5 years from date of transaction.
SWIFT Reconciliation offers a powerful suite to create and maintain complex mappings, validations and business rules, and to manage message reconciliation effectively. Ensures optimal data quality for Regulatory Reporting and Compliance monitoring.
Post Trade Transaction Reporting
With comprehensive MT formats incorporated, Kyzer have successfully created validation rules and mappings enabling banks to integrate SWIFT Reconciliation with Core Banking Systems, Trade Finance and third party systems to enhance internal compliance. Regulatory reports ensuring complete audits and trace of transactions with actions taken.
Comprehensive co-existence solution:
Import of SWIFT data using Auto File Upload or Manual File Upload.
Auto Match 103/202 with 940/950/910 for both Inward & Outward.
Provision for Manual match on User screen.
Data Extraction from CBS / Trade Finance System / Third Party Systems.
Auto Match CBS Transactions against matched SWIFT MT messages.
Complete Audit Trail for all Transactions.
In any real-world application, the SWIFT standard MT mappings need to be adapted to address the particular needs of local usage groups. A complete solution must be customisable.
The SWIFT Recon makes MT mappings easy to customise and maintain. The GUI presents complex message structures and the mappings between them in a highly intuitive and business-meaningful form, allowing operational and analyst-level staff to make amendments directly. Recon requires no program coding stage.
For the most complex components of the messages a set of specialised mapping functions has been created, to preserve the clarity of presentation and ensure efficient execution. Quality control is an integral part of the process: each individual mapping can be checked immediately.
Deploys into any infrastructure:
SWIFT Recon’s simple API and its range of specialised service builders allow solutions to be deployed rapidly into any integration architecture. Easy integration helps reduce the complexity and costs associated with managing multiple systems.
Inbuilt User Management and Integration with Active Directory or Single sign on.
Designed secure interfaces between the source and target with a strong reconciliation and Data Quality Check framework.
Meeting all mapping requirements:
Ready-built mappings capture all of the intricacies of SWIFT’s global MT specifications, which runs to several hundred pages. Handles all input formats with equal ease, the mappings can be achieved in a simple single-step approach: there is no need for any preliminary conversion of the MT format into an XML equivalent.
All mappings can be viewed in the screen, which provides a very clear and non-technical visualisation.
Calculations, workflows, financial analysis, electronic compliance and servicing all work together on a single platform.
With easy-to-understand functionality featuring intuitive workflows and a limited learning curve, Kyzer solutions assure quicker employee adoption and faster ROI.
Parsing complex messages
Validating against public standards and in-house rules
Audit & compliance
Regulatory Reports facilitation
Enriching the content using a wide range of data sources
CBS / Trade Finance / Treasury System Integration
End-to-End reconciliation tracking
Optimal Resource utilization
Questions? We'll Assist You!
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