Software AG partners SYRACOM
ConvergenceAsia staff
15/09/2008

Software AG, a global business infrastructure software company, and SYRACOM, a business and IT consultancy company, has introduced a new solution for automating exception and investigation management of SWIFT-based transactions.

The announcement was made at SIBOS 2008 event, which is held in Vienna from 15-19 September 2008. The SIBOS event features the world’s top financial institutions, vendors, technology and solutions providers along with SWIFT and its business partners.

Building upon the best-in-class components of the webMethods suite from Software AG, the new solution, PINQ (Process INQuiries Management System), brings together a SWIFT-certified enterprise service bus (ESB) with advanced business process management (BPM) and business rules management (BRM).

According to Dr. Peter Kürpick, Chief Product Officer and member of the Executive Board, Software AG, the PINQ solution uses configurable business rules and the underlying SWIFT network to manage, review and rectify each inquiry automatically.

”What’s more, it’s a highly extensible solution that can be easily extended to all stakeholders as it’s fully supports all applicable SWIFT messaging types,” he said.

Banks and other financial institutions can utilise the SWIFT-compliant PINQ solution to implement an automated, rules-based and auditable approach for investigating, routing and resolving discrepancies regarding their SWIFT transactions.

SWIFT – the Society for Worldwide Interbank Financial Telecommunication – is a member-owned cooperative known principally as a provider of secure, high-speed messaging between member organisations.

The SWIFT network serves as the foundation for interbank transaction processing with more than 8,500 institutions in over two hundred countries and territories exchanging an average of 15 million messages a day.

Utilising PINQ, enterprises can automatically input, evaluate, route, manage and audit customer inquiries regarding specific payments transactions. With full support for all applicable SWIFT standards and protocols, required systems and users can be readily integrated into the process workflow with a full audit trail created for each investigation.

“We’ve maximised time-to-value by embedding critical business rules and process templates within a SWIFT-based solution that can be implemented quickly and easily maintained. As a standards-based, platform independent solution, it can also be easily configured to meet a number of bank-specific requirements,” said Rainer Schnell, Product Manager PINQ, SYRACOM.

The PINQ solution is available now and exclusively from SYRACOM.

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