Wilco International announced today i is developing a new range of SWIFT messaging functionality, including a new workflow monitoring tool for asset managers and a message input solution, both of which will be usable with Wilco’s SWIFT service bureau.
The new workflow monitoring tool, to be known as the SWIFT STP Browser, is a Java-based system that monitors the lifecycle of SWIFT messaging for asset managers. This covers the entire process of a message, from the first advice of a transaction, through two-way communication with broker/dealers, to the forwarding of information to the middle and back office and the custodian.
Wilco says the SWIFT STP Browser offers improved business control for SWIFT processing operations. “Users are able to monitor the full lifecycle of their messages via an up-to-date browser,” says the company. “The browser provides validation and monitoring throughout the lifecycle, and gives access to historical records to aid problem solving.”
The browser has been designed to work with Wilco’s SWIFT service bureau, but can also be employed through other systems. The process can also be customised to meet individual requirements. Wilco says it has signed a German asset management operation as its first client for the new service.
The SWIFT message input solution, by contrast, is focused on the requirements of brokers and banks. It enables users without knowledge of SWIFT formats to input any types of message, and automatically transforms the user messages into the appropriate SWIFT
format.
“We are delighted to be able to offer this new service and technology to the asset management community,” says Volker Wombacher, head of Wilco’s SWIFT operations in Germany. “SWIFT messaging is a vital component of our industry, and Wilco is committed to offering high quality SWIFT support to its clients.”