Smart Investigate Agentic Automation

SIAA helps to reduce the complexity and cost associated with managing exceptions in financial transactions. The application is valuable for financial institutions that use Society for Worldwide Interbank Financial Telecommunication (Swift) messages, which are integral to international transactions. Building a system to interpret and generate Swift messages is a significant undertaking. SIAA includes and perpetually maintain this feature, which offers significant advantages to financial institutions and reduces dramatically their internal maintenance overheads for addressing requirements in this domain.

The logical architecture of SIAA helps streamline the management of exceptions through a series of integrated components and processes. The system begins with its inbound connectors, which play a crucial role in integrating various data sources. SIAA connects directly to the transaction data system of record of financial institutions by providing seamless access to the information required for payment investigations. With this integration, the system has real-time access to transaction data to facilitate prompt detection and management of discrepancies and issues.

The system also interfaces with reconciliation engines so that investigators or automated workflows can handle issues with outstanding nostro/vostro or internal account credits or debits related to payment transactions.

A key feature of SIAA is its compatibility with Swift format messaging. This feature enables the solution to understand inbound and assemble and generate outbound Swift messages, which are vital for handling interbank exceptions and investigations (E&I) efficiently. Additionally, SIAA manages multi-channel inbound correspondence so that it can capture and process all forms of communication that relate to exceptions.

At the core of SIAA is a powerful message-processing engine. This engine analyzes incoming Swift messages by extracting relevant data and displaying it in a format that is accessible to users. The solution reads Swift or CBPR+ ISO 20022 format message tags and extracts pertinent information so that complex data becomes actionable Insights for users. SIAA is able to correctly generate required outbound correspondence in formats required by banks in accordance with Swift (and other) standards. As a result, banks can communicate relevant information efficiently. Outbound format generation supports evolving industry standards, which helps ensure uniform processing across the financial sector.

SIAA provides a comprehensive back-office work environment where specialists and subject matter experts in payment investigations can efficiently resolve payment exceptions. This environment can help streamline workflows and enhance productivity. In addition, the system offers self-service opportunities, which empowers banking customers to independently address common issues and reduce the operational burden on specialists.

On the outbound side, SIAA can generate and remit messages through the Swift network to facilitate effective communication with other financial institutions. The solution is also capable of sending emails, providing flexibility in communication methods. It can also initiate financial adjustments, for example, correction of transaction errors.

As shown in the following diagram, the architecture supports headless, straight-through processing through a recursive decisioning capability, powered by an advanced adaptive orchestration case model with access to resolution activities that are developed in alignment with known industry standard mechanisms for solving payment exceptions and investigations. The system can automatically interpret messages, apply changes, and respond without human intervention in many cases.

SIAA offers a robust solution for automating the resolution of payment exceptions. For example, SIAA delivers comprehensive Swift exception handling so that financial institutions can manage the complexities of international transactions with ease. It can send, receive, interpret, and manage a wide array of message types, including ISO 20022 based Swift MX formats (e.g. Swift Case Management/E&I service formats), email, Fedwire ISO, Swift MT messages, and Swift GPI support.

SIAA provides direct industry best practice workflows for common exception Case Types, complete with full straight-through processing (STP) support. As a result, financial institutions can handle exceptions efficiently and consistently, which helps reduce the time and effort required to resolve issues.

SIAA includes directly consumable functionality, which helps financial institutions to quickly implement and benefit from the solution without extensive customization. It supports rolling compliance with industry changes and standards, which drives down the cost of ownership by eliminating the need for constant system updates and maintenance.

Additionally, native operational reports provide operations leaders with deep insights into the state of their payment exception operations. These reports enable institutions to monitor performance, identify trends, and make informed decisions to optimize their processes.

The architecture of SIAA helps financial institutions navigate the complexities of payment exception management with a comprehensive, automated solution that adapts to industry standards and evolves with market needs. Adopting this solution positions financial institutions to operate efficiently and maintain a competitive edge in the financial landscape.