Fundtech says it can now offer a message conversion application that changes proprietary messages into standard messages such as SWIFT, and vice versa.
It has a graphical user interface that FundTech believes will enable non-technical staff to do message mapping by using a drag and drop feature. The results can be monitored by loading real messages as mapping input. The product is available either through Fundtech’s SWIFT ServiceBureau or as an installed application.
Fundtech says it has also developed a so-called Transaction Filter to intercept suspicious payments before they leave a bank or enters a bank’s books. The company says the tool addresses current regulatory requirements, and offers a single point of access for multiple lists, including OFAC, Factiva and Worldcheck. Like Message Converter, it is available through Fundtech’s SWIFT Service Bureau or can be installed in-house.
Both Message Converter and Transaction Filter were developed by financial messaging specialist bbp, Fundtech’s Swiss subsidiary, which operates the SWIFT service bureau.
“These two enhancements to our financial messaging product line demonstrate our commitment to continually innovate and offer new tools that enhance our customers performance,” says Per Trifunovic, CEO of bbp.