SWIFT STP
Client: Undisclosed Objectives:
- Enable users to configure and update the rules and parameters for any SWIFT message type without programming,→ e.g.migrating from ISO15022 or ISO7775 to ISO20022
- Need to configure workflows for outgoing SWIFTs,
→ e.g. outgoing SWIFT payments below a certain threshold are sent automatically, while those exceeding the threshold require manual confirmation from specific user groups
- Need to support matching for standard and custom SWIFT messages without programming
- Reduction of operational errors and manual work
Why EGAR No Code was a good fit:
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- EGAR No Code platform eases updating SWIFT formats without re-writing any messages or other system data. Transition to ISO20022 is implemented by changing the format in a single place with all messages automatically reconfiguring to match the new format
- EGAR No Code platform allows users to independently define and frequently change message workflow, confirmation permissions, matching rules, etc.
- Near-all settlement maintenance is done in nocode mode using workflow, document generation and DNM engine
