Quick & Secure Payment Processing and Transfer of Large Files with SWIFT FileAct
Following recent development trends, both in IT and in banking systems, Asseco SEE has developed a solution supporting the requirements of SWIFT FileAct, a secure channel for large files of structured messages, operational data or reports.
The solution involves integration of the Core banking system with the Payment Gateway via Backend Connectors, in order to receive, process and send certain messages through a special SwiftAlliance tool, FileAct.
From a bank’s perspective, this solution integrating payment operations in local (RSD) and foreign currency and Payment Gateway, comes with a number of benefits:
- It enables faster and more secure processing of payment requests since it is necessary that all messages comply with the ISO 20022 standard.
- All messages are subject to the prescribed validation checks, which raises the level of security and minimizes the risk of error.
- Monitoring is an important and useful segment of the solution possibilities. It is possible to monitor incoming and outgoing messages, PGW logs, setting up and configuring PGW as well as the Core banking system, and to monitor the status of Backend Connector.
- Corporate clients also gain a substantial benefit as their operations are accelerated due to the opportunity to make several requests for RSD and foreign currency payments within one pain.001 message.
The functionality envisages receiving and processing pain.001 messages, which include payment messages for legal entities (residents and non-residents), in local and foreign currency, both in the country and abroad, for payment transactions in RSD and foreign currency. Creating pain.001 also includes creating pain.002 messages in response to whether all payments were made successfully or not.
In addition to messages initiating payments, messages initiated by the bank to the customer are also supported for:
- Sending data on fees and expenses charged to customers - sending a message camt.086
- Intraday statement - sending a message camt.052
- Account statement - sending a message camt.053
- Notification to customer - sending message camt.054
At certain intervals, feedback is provided to customers on the status of requests for payments, account balance and changes in RSD and foreign currency accounts, as well as sending data on fees and expenses charged by the bank.
For more information about the solution and how we can support you, please contact us.