Payment Workflow Automation
with the rule based
SWIFT Payment Router (SPR)
By:
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Topics
1. Introduction IBIS Management Associates Inc.
2. Experience and Client Projects
3.
Straight Through Processing with SPR
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Introduction
IBIS Management Associates Inc.
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IBIS Management Associates Inc.
Who we are and what we do …
IBIS Management Associates Inc. (IBIS) is a Financial
Systems Solutions provider and Consulting firm.
We combine our knowledge in core banking systems
(business, functional & technical) with the concept of
Straight Through Processing.
We are specialists in improving efficiency of payment
processing departments (Back-Office) of Banks.
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IBIS Management Associates Inc.
For those of you who do not know us …
We work with our clients to reduce operational cost by
applying end-to-end payment workflow automation.
We use Straight Through Processing as the basis for all
systems that we design and implement.
We open-up new revenue opportunities and improve
profit associated with automated payment processing
(STP).
All IBIS consultants are ex bankers, with significant
Banking and payment processing knowledge &
experience.
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IBIS Management Associates Inc.
Our experience and knowledge is the key to success…
Our strong STP focus always results in cost-effective
solutions that improve processing efficiency and profit.
Our project approach is to always deliver turnkey endto-end STP solutions to our clients.
Over the years we have put together a portfolio of
solutions that embrace STP and improve efficiency.
Our flagship product is the rule based:
SWIFT Payment Router (SPR)
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IBIS Management Associates Inc.
We have formed strategic partnerships with ….
DATASPHERE, a SWIFT Solution Partner based in Geneva
Switzerland. Datasphere provides in SWIFT connectivity middleware.
SwallowTech, a UK based company specialized in integrated
solutions for automated account reconciliation and item-matching.
S.W.I.F.T., IBIS Management Associates Inc. is a certified SWIFT
Solution Partner.
TOP Systems, a provider of high end client profiling systems for
AML
IBM, IBIS Management Associates builds STP solutions on the IBM
i/series and works closely with IBM to deliver turnkey solutions.
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IBIS Management Associates Inc.
Our products and services portfolio…
IBIS Management Associates offers a wide range of STP
solutions & related services :
IBIS Straight Through Processing solutions
SWIFT Payment Router (our Flagship product)
[email protected] (AS/400 based Internet Banking)
E-reporter (Daily Statement e-mailer)
SMART Suite (Swallowtech)
DAC/400 & BALI (Datasphere)
TOPAZ TRACE (TOP Systems AML software)
IBIS STP services
STP & Profit Improvement Scanning, SD & PM
SWIFT Training and Helpdesk Support services
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Some of our STP experiences
and client references.
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IBIS Management Associates Inc.
Statement of experience...
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Several implementation of our Straight Through Processing
solution SPR, for the STP processing of internal, domestic
and foreign payments.
Several implementations of STP interface solutions for
processing of the incoming and outgoing local clearing
transactions ACH,
Development and implementation of STP solutions for
processing payments from and Electronic Banking System
and Internet Banking Systems directly into the core banking
system.
Several debit and credit card settlement interfaces for realtime posting within the clients banking system (CIRRUS,
MAESTRO, VISA+, FDMS, CREDOMATIC, etc)
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IBIS Management Associates Inc.
Statement of experience...
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Development and implementation of an AS/400 based
Internet Banking system and architecture ([email protected])
Project management and key roles in several banking
systems implementations and banking migration projects
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Various others projects…
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Additional project details on request.
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IBIS Management Associates Inc.
Our clients are amongst others...
Our clients include major Banks:
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ABN AMRO Bank (Curacao)
GIRO Bank (Curacao)
Banco di Caribe (Curacao & Aruba)
Royal Bank of Trinidad & Tobago (Curacao,
Aruba, Trinidad, Surinam)
Maduro & Curiel’s Bank (Dutch Antilles)
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Straight Through Processing
The key to STP is to think end-to-end...
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Straight Through Processing (STP)
…is a road not a destination…!
Why do Banks follow this road ? :
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REDUCE COST and IMPROVE PROFIT !
ELIMINATE manual RE-entering of payment orders
ELIMINATE errors related to manual payment
processing !
IMPROVE QoS to the client !
IMPROVE payment processing compliancy !
Streamline entire payment processing operation !
And more …
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Straight Through Processing (STP)
Definition…
Straight Through Processing or STP can be defined as:
A process whereby financial information is
captured electronically at the source, and
communicated through every stage of the
transaction process with minimal or no manual
intervention, allowing it to go ”straight through“
to the end of the processing cycle, being
settlement and accounting.
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Straight Through Processing (STP)
NON-STP processing environment…
Banking Transaction Operation
(No Straight Through Processing)
Internet Banking
System
BILL
Pay ments
& Foreign
Transf ers
ATM System
BILL
Pay ments
Phone Banking
System
Branch Teller
System
Point Of Sale
System
Documents
Tax f orms,
currency
rates &
other
3rd Party
Large Clients
(e.g. Utillity Companies)
ITEM
Processing
Environment
OTHER
BANKS
(Local clearing)
OTHER
BANKS
Merchant
Settlement
(Foreign transfers)
Significant manual processing
(Item processing)
Banking System
Elaborate controls
Increased error rate
Unsatisfied clients
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High cost per transaction
Straight Through Processing (STP)
STP processing environment…
Banking Transaction Operation
(Straight Through Processing)
Internet Banking
System
ATM System
Banking &
Payment
System
3rd Party
Large Clients
(e.g. Utillity Companies)
OTHER
BANKS
Phone Banking
System
(Local clearing)
Branch Teller
System
OTHER
BANKS
Point Of Sale
System
(Foreign transfers)
EXCEPTION ITEM
Processing
Environment
Limited manual interventions
(exception item processing)
Limited errors
Improved controls
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Better service to the client
Reduced cost per transaction
Straight Through Processing (STP)
The bottom-line …
The BOTTOM-LINE is:
Straight Through Processing will
increase operational efficiency and
lower the cost of processing payments.
It will make your Bank more profitable !
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Our STP Solution
Intelligent rule based
Payment Workflow Automation
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Our Payment Solution
SWIFT Payment Router (SPR)….embracing true STP
SWIFT Payment Router (SPR)
An intelligent, fully integrated payment
workflow management system that automates
the ENTIRE payment workflow and achieves
TRUE - STP.
SPR manages ALL the aspects of Internal,
Domestic and Cross-border payment processing.
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Our Payment Solution
SWIFT Payment Router (SPR)….embracing true STP
SPR’ routing engine takes care of all connected financial
networks and processes all types of payments, Incoming and
Outgoing with the benefits of Straight Trough Processing (STP)
Internet
Recurring Payment
module
Branch
Input
Module
E /A
One Window Payment
Entry for
ALL Payment types
@ BRANCH LEVEL
One Window Payment
entry for
ALL Payment types
@ Back-OFFICE LEVEL
(XML)
Feed-in
interface
module
SWIFT
Payment Router
(Rule Based Payment
Workflow Manager)
Internet Banking
Web Server
SWIFT
interface
module
S.W.I.F.T
RTGS
&
SWIFT AA
ACH
interface
module
Standard real-time interfacing
(ICBS)
Core Banking
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ACH
ACH
Interface server
Our Payment Solution
SWIFT Payment Router (SPR)….embracing true STP
Key benefits of the system are:
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Standard real-time interfacing with ICBS and other
platforms;
Fully automatic rule driven correspondent bank routing;
Fully automatic rule driven booking entries generation for
all payments, GL entries, charges, commissions and taxes;
User friendly one window payment entry for ALL
payment types (internal, domestic, cross border);
Real-time exception item handling features;
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SWIFT Payment Router (SPR) (cont’d)…
Key benefits…
Automatic payment data enrichment and validation
Integrated BIC and National Clearing codes database
Built-in Payment and Bank Routing intelligence
Automatic generation of MT103 and MT202 messages
STP capabilities for incoming and outgoing payments
User segregation through multiple queues for the Entry,
Verification and Authorization of payments
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SWIFT Payment Router (SPR)
SPR Payment Queue Segregation of Functions
Segregation
of user
functions
STP
FP- ORDER
Route
FP-ORDER
Paper
trail
Queue 1
Queue 2
Queue 3
Queue 4
Entry /
Validation
Authorization
Fiat
System
process
Data entry
Supervisor
Fiat
FP – ORDER 1
FP – ORDER 1
FP – ORDER 2
FP – ORDER 2
FP – ORDER 3
FP – ORDER 3
FP – ORDER 3
Source doc.
Source doc.
Source doc.
 O.K.
 O.K.
 O.K.
 O.K.
Post to Alltel
Sent to
SWIFT
 O.K.
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SPR
ORDERS
Processed
 O.K.
SWIFT Payment Router (SPR)
(cont’d)…
Key benefits
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Real-time interface with the S.W.I.F.T network
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Integrated Standing Order /Recurring payment module
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Interface with ACH based domestic clearing networks
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Integrated Central Bank Foreign Exchange reporting
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Integrated Nostro Position & OCP monitoring module
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THE SWIFT PAYMENT ROUTER
The SPR Main Menu…
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THE SWIFT PAYMENT ROUTER
Create an outgoing customer payment…
User friendly ONE WINDOW payment entry for ALL payment
types (internal, domestic, cross border);
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Beneficiary BIC Code Look-up
Integrated BIC and National Clearing codes database
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SWIFT Payment Router (SPR)
Intelligent payment routing and even more…
Integrated Routing Rules database
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Bank Identification Codes (BIC) table (automatic import feature)
Bank Identification Numbers (ABA/Fedwire) table
BIC / Currency correspondent table
BIC / Bank routing instructions table (BKE definitions)
BIC / Nostro account table
BIC / Currency cut-off time table
Intelligent rules based payment workflow automation
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Based on beneficiary bank (BIC)
Based on senders and receiver currency correspondents
Based on SWIFT BKE relation (automatic MT202 generation)
Based on output type (SWIFT, Local Clearing, Internal Transfers,
other external Networks)
Based on other user-definable payment routing rules
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SWIFT Payment Router (SPR)
Flexible definition of your fees and taxes…
Automated customers fees and taxes
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Default fees can be defined on several levels:
 Payment
Type (Swift, Clearing, Internal, Check payment)
 Input Type (Manual, Internet banking, Standing Order, etc)
 Account Product Type (Consumer, Corporate, Employees)
 Specific Customer / Account number
 Transfer amount range
Fees can be defined in any currency
 Calculation based on flat fee amount and percentage
with minimum and maximum amount
 Fees can be defined per fee type (Swift, handling, etc)
 Automatic calculation of taxes
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SWIFT Payment Router (SPR)
Integrated Recurring Payment module…
Full feature recurring payment module for managing of
internal (book-to-book), domestic clearing and international
SWIFT standing orders;
Fully benefits from the SPR payment workflow
architecture, Clearing, SWIFT and STP functionalities;
Built in automated fiat (avail. Balance) features with forced
settlement, manual fiat overrule and fiat retry functionality;
Includes user-friendly inquiry function and variety of
standing order settlement and exception reports;
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SWIFT Payment Router (SPR)
It’s secure ! Dual control audit principles…
Enforces segregation of duties due to separate Entry,
Authorization and Fiat payment processing queues;
Restricts end-users to access un-authorized menu’s
and functions due to authority security shielding;
Integrated payment & user audit-trails (online look-up
and reports).
Includes two-step dual control E/A approach, audittrails and logging for all static data maintenance;
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SPR Version 1.5
The SPR system
continues to evolve...
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Real-time Compliancy checking module
The payment processing industry is dynamic…
Now more than ever, global payment processing is required
to adhere to new global compliancy standards…
Financial institutions are required to monitor, screen, report
and intercept suspect payment orders…
Not doing so may result in:
Sanction based penalties and even loss of funds …
Unquantifiable reputational damage to the Bank…
SPR payment processing platform continues to evolve and
expand in functionalities to cater to these emerging
compliancy requirements.
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Real-time Compliancy checking module
On-line compliancy OFAC checking with e-mail alerts…
Real-time rule based compliancy screening of incoming &
outgoing payments. (based on automatically updated 3rd party i.e.
OFAC or own internal black listing).
Real-time compliancy screening marked country listing based on
BIC codes.
Immediate e-mail alerts generation to Compliancy Officer at
detection of non-compliant payment order.
Special Compliancy payment queue for further action taking.
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Real-time Compliancy checking module
Real-time compliancy screening in- & outgoing payments…
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Real-time Compliancy checking module
Separate Non-Compliancy Queue for further action taking…
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Flexible management reporting module
Powerful Management & Decision Support reporting…
The centralized SQL based Data Warehouse offers a
powerful business intelligence platform for flexible
Management and Decision Support reporting.
Analytical and statistical management reporting can easily
be done through standard OLAP analysis and standard
reporting tools, like Crystal Analysis and Crystal Reports .
Efficient Fraud Management & AML screening through
easy integration with 3rd party AML profiling systems.
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Flexible management reporting module
Statistical information with a “push of a button”…
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And much more STP & SWIFT features
SWIFT MT110 Cheque Advice screen…
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And much more STP & SWIFT features
Payment Entry IBAN validation message…
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A typical SPR implementation
Rapid deployment strategy…
Implementation model & project approach is based on he rapid deployment
strategy.
Controlled in 3 project phases
Phase 1
Customization
Phase 2
Testing
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Phase 3
Implementation
Please contact us !
IBIS Management Associates Inc.
Straight Through Processing solutions
Pos Cabai Office Park unit 2
T : 5999 – 7372065
F : 5999 – 7372048
E : [email protected]
[email protected]
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SWIFT Payment Router - IBIS Management Associates