- Support one of the largest Banks in Indonesia in transitioning to ISO 20022 messaging standards.
- Assist in processing, validating, and transforming SWIFT MT and MX financial messages.
- Ensure compliance with global payment standards while maintaining operational efficiency.
Case Studies
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Enabling Indonesian bank in ISO 20022 Transformation with FINaplo Financial Messaging Libraries
Enabling Indonesian bank in ISO 20022 Transformation with FINaplo Financial Messaging Libraries
ISO 20022 CBPR+, FINaplo Financial Messaging Libraries
- Deployment of FINaplo Libraries: We integrated FINaplo Financial Messaging Libraries into the bank’s existing systems. These libraries provided robust capabilities for parsing, building, and validating ISO 20022 messages, enabling a seamless transition from legacy SWIFT MT formats. This allowed the bank to adopt ISO 20022 while maintaining compatibility with existing message formats.
- Message Transformation and Validation: The FINaplo libraries offered automatic translation between SWIFT MT and ISO 20022 messages, ensuring that the bank could handle both formats during migration. This functionality minimized disruption and allowed the bank to continue operating smoothly while adapting to the new standards.
- Online Service for financial messages: We provided access to a unique Online portal that helps users validate and translate any SWIFT MT or MX financial message to accelerate the quality assurance process.
- Operational Efficiency and Compliance: Using the FINaplo libraries, the Indonesian bank achieved automated validation of ISO 20022 messages against the latest standards. This automation significantly reduced manual intervention, ensuring faster processing times and lower error rates.
- Annual updates: The financial messaging tools are updated annually, immediately after the new rules are publicized by governing authorities and SWIFT ensuring continuous compliance with ISO 20022 standards.
Global Technology Leader, chose Financial Messaging SDKs as an optimum way to ISO20022 compliance.
The long-term collaboration between NEC Corporation and PaymentComponents, through the integration of Financial Messaging SDKs, proved to be a successful venture. Financial Messaging technology as implemented by Payment Components, addresses the immediate need for Compliance and Flexibility both for the MEPS+ and the CBPR+ standards. It also positions global technology leaders such as NEC in a power position on the evolving payments landscape.
ISO20022 Messaging SDK
- Enhance the efficiency and accuracy of Financial Messaging of financial institutions in the MEPS+ (Monetary Authority of Singapore Electronic Payment System) protocol.
- Ensure compliance and seamless integration with the newly introduced CBPR+ (Cross-Border Payments and Reporting Plus) messaging standard.
- Payment Components provided NEC Corporation with its state-of-the-art Financial Messaging technology. This technology is tailored to seamlessly integrate with the existing Payment Gateways or Core Banking systems, enabling a smooth transition towards MEPS+, the new enhanced financial messaging protocol of Singapore.
- The robust and flexible nature of Financial Messaging SDKs allowed also for a smoothless adaptation to the CBPR+ messaging standards, ensuring NEC Corporation clients remained compliant with the new regulatory requirements without any operational hitches.
- The provided SDKs can be utilized to to build, Parse, and transform SWIFT MT Financial Messages to ISO20022.
- The tools are updated annually, immediately after the new rules are publicized by Governing Authorities and SWIFT.
- The integration of SDKs within existing payment applications, ensures a scalable solution, allowing and accelerating future expansions and adaptations to any Payment Scheme as the financial messaging standards and regulatory requirements evolve.
Trade financing technology for a world leader
Payment Components provides the underlying technology and support for a trade financing system to a financial institution giant.
ISO20022 CBPR+
- We provide SDKs to build, Parse and Validate CBPR+ and SWIFT MT trade financing messages.
- Provide unlimited same day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by SWIFT.
Financial messages technology for a world leader
Payment Components provides the underlying technology and support for several global payment systems of one of the largest financial institutions.
ISO20022 CBPR+
- We provide SDKs to build, Parse, and Validate SWIFT MT and CBPR+ financial messages.
- Provide unlimited same-day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by the governing authorities.
Financial messages technology for a technology giant
PC provides the underlying technology and support for several global payment systems of one of the largest financial institutions.
SWIFT MT Messaging tools
- We provide SDKs to build, Parse and Validate all SWIFT MT, all ISO20022 and all SEPA messages.
- Provide unlimited same day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by the relevant authorities.