In the event of an incident at a node that supports Symphony™, the solution can instantly resume operations precisely where it left off from another node and assure the bank that all operations will be carried out correctly. Moreover, thanks to its real-time architecture, banks wishing to engage in instant processing can do so in full compliance with Instant SEPA requirements. Banks can also receive or push transactions individually and apply operations, such as filtering, to them and thus accelerate the processing and validation.
Symphony™ can convert financial messages into any format (ISO 20022, SWIFT RJE, SWIFT DOS-PCC, VIR2000, etc.). When a financial message is received from either an internal or external source it can contain multiple transactions. Symphony™ unbundles the message to its atomic elements so that each element can be processed. Once the processing is complete, Symphony™ rebundles the message for transmission. Moreover, the solution monitors and logs every step of the process in its fault-tolerant storage, providing you with access to this information for auditing or business intelligence.
Fraud detection, Anti-Money Laundering (AML) verification in conjunction with accounting standards and archiving have been subject to increased scrutiny in recent years. These aspects of the evolving financial industry are the crux of today’s financial institutions. The processes and systems employed to monitor all of this has been fragmented. Businesses require a solution to handle any type of financial message with the performance and intelligence to validate and transmit them in real-time.
In front of Know-Your-Client (KYC) regular process that faces many limitations, Symphony™ gives your organization the great advantage of Know-Your-Transaction (KYT) by targetting transaction data – evidence that is available in real time, and that is hard to be manipulated or changed. Analyzing transaction data results in both quantitative and qualitative analyses to determine the true payment activities. With concrete supporting evidence in hand, this definitely helps generating highly accurate insights and allow data driven conclusions to be taken.
Dedicated to SWIFT platform users, amongst others Symphony™ Engine addresses the following Long-Term Archiving (LTA) requirements:
Standard licensing model
Installation of the software components in your infrastructure.
Standard licensing model
We deliver a pre-configured virtual appliance that can easily be integrated on any virtualization platform such as VMware ESXi.
SaaS licensing & operating model
Once the VPN-link is established between your infrastructure and ours, you run on our Cloud platform within a dedicated but scalable environment.