EcoSystem Connectivity - SWIFTNet
Corporations today who operate cross border and in multiple countries throughout the world often are required to maintain multiple banking relationships. In doing so, many of these companies are forced to use several different proprietary electronic banking systems in order to make payments and collect account statements.
Electronic banking systems require the integration of several different interfaces and the subsequent functional management and administration of these, which can be costly to install and maintain. Systems of this nature can put undue strain on in-house IT resources, as well as drive up administrative costs, resulting from costly fees associated with the maintenance of multiple banking connections.
Connecting Internal Systems to the SWIFT Network
AvantGard offers several solutions aimed at helping corporations connect to SWIFT. The AvantGard SWIFT Connector, developed in close collaboration with SWIFT, offers corporations a cost-efficient and direct means of connecting to banks. This complete end-to-end solution for SWIFTNet integration projects helps to bridge the gap between disparate internal systems and various SWIFT interfaces in an entirely secure manner. Additionally, AvantGard Trax SWIFT Connector is an approved SWIFT Solution Partner, meaning that this solution is entirely compatible with all SWIFT-related projects.
AvantGard also offers the ability to interface with the SWIFTNet Accord solution from SWIFT which matches confirmations and provides handling results in real-time, as well as automatic updating of the matching status, as confirmations, corrections and cancellations for confirmations are received.
Flexible Connectivity Options
AvantGard offers corporations several options when it comes to connecting to the SWIFT Network. One option is to connect directly, another is to connect through the SunGard Service Beuraue as a stand alone entity and the third is to connect through the Service Beuraue but leverage the member concentrator program whereby SunGard acts as the administrator of your SWIFT account.
The comprehensive solution offers integration, security & audit compliance; delivering the back-end infrastructure and interfaces necessary to participate in the SWIFT network. Using the Member Administered Closed User Group (MACUG) or Standardized Corporate Environment (SCORE) membership, users are able to easily gain access to the SWIFT network with the AvantGard Trax SWIFT Connector.
Features:
- Full Service Connectivity to SWIFTNet
- Connects to AvantGard Payment Factory
- Integrates to Back-office Systems
- Interface with SWIFT Accord for Confirmations
- Sophisticated Security Controls for Users and System Integration
- SWIFT Certified
Benefits:
- Lower Total Cost of Ownership (TCO)
- Comply with SWIFT Standards & Maintain Current Formats / Protocols
- Internal Control & Compliance
- Improved Efficiency with Straight-through-Processing
