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© 2019 by Notiva

Created by The WHOA Studio

MONITORING S.W.I.F.T. TRANSACTIONS

NOTIVA Prime is a state-of-the-art direct plug-in middle-ware solution for banks, which monitors and screens FIN transactions by establishing a fool-proof real-time STP integration between the bank’s core banking system and S.W.I.F.T. system. It is a compliance solution since it has all the necessary built-in fraud detection intelligence that is mandated by the RBI’s S.W.I.F.T. operational control circular*. Against the backdrop of growing fraudulence in the S.W.I.F.T. messaging space in recent times, it has become imperative for every bank to have a control mechanism framework that combines people, process and technology for effectively processing, validating and transmitting S.W.I.F.T. transactions. In that light, NOTIVA Prime is a change-maker in the fintech domain, specifically in the cross-border payment solutions landscape in India and is currently live in various banks including Punjab & Sind Bank, United Bank of India, Karnataka Bank, Saraswat Bank, Bharat Bank, SVC Bank, TJSB, NKGSB Bank, Abhyudaya Bank, and many more.

*Ref DBS (CO). CSITE/4493/31.01.015/2017-18 

NOTIVA Prime Workflow for Assisting RBI Compliance

A direct plug-in middleware solution for CBS and S.W.I.F.T. Integration along with built-in fraud detection intelligence

THE SALIENT FEATURES OF NOTIVA PRIME:

  • Real-time STP of both structured and unstructured data between bank’s CBS and S.W.I.F.T. system

  • Real-time tracking and reconciling CBS source data with its corresponding S.W.I.F.T. acknowledgment (ACK), thereafter generating real-time alerts in case of any discrepancy

  • Ensuring that the users entering/passing/authorizing the CBS transactions are different from those operating S.W.I.F.T.

  • Real-time sanction list screening for both inward and outward transactions

  • Creation of a S.W.I.F.T. transaction repository and using historical data for generating customized reports and data analysis

  • View and print access for all branches for their corresponding S.W.I.F.T. transactions

  • Message validation as per S.W.I.F.T. messaging standards for reducing the not acknowledged (NACK) S.W.I.F.T. messages, thereby saving cost for the bank

  • Message validation as per S.W.I.F.T. messaging standards for reducing the not acknowledged (NACK) S.W.I.F.T. messages, thereby saving cost for the bank

BEST AUTHENTICATION SOLUTION AWARD, 2018

For the Excellence in S.W.I.F.T. Products and Services, used for Core Banking Systems

NOTIVA PRIME UPCOMING FEATURES

(Sep 2019 Release)

  • Auto cancellation MT 192 message in case of direct message sending from bank’s S.W.I.F.T. system

  • End-of-day auto reconciliation of consolidated CBS transactions with input sequence number (ISN) traffic summary report

  • Real-time reconciling and matching inward MT 103/202 messages with NOSTRO statements

  • Rule engine for the banks to set speci­fic rules for compliance