Converter MT/MX
allows for a bidirectional conversion of messages between SWIFT MT and SWIFT MX formats for SWIFT, SORBNET2 and TARGET2 systems, according to XML ISO 20022 standards. It is an independent application which supports most popular application servers and relational databases. It can be implemented as a self-sufficient module or can be a part of a of a comprehensive Payment Hub solution
The MT/MX Converter application has been successfully certified by SWIFT and is listed on the SWIFT.com website as compliant with ISO 20022 CBPR+.
Confirmation of obtaining the certificate
Application conveniently presents detailed information on all supported payment messages, and has a mechanism for notifying operators about events requiring their intervention. It was designed with the idea that its inclusion in the ongoing business process of the bank should be convenient, transparent and safe for other parts of that process.
Business benefits
The Converter uses our original and proven Warthog framework, which is a basis of many banking and financing systems offered by Sygnity. Thanks to this it ensures:
quick and cost effective adaptation to the mandatory requirements of SWIFT MT and SWIFT MX (XML ISO 20022)
cost saving, thanks to automated transaction management
easy and convenient integration with existing payment messages business processes
better control over business processes, thanks to e-mail messages sent in case of the event that requires operator interference
For whom?
The MT/MX Converter is an ideal solution for banks (especially in IT and business areas dealing with settlement of payments), which are obliged to efficiently comply with both regulatory and market changes, while their back office systems either do not support SWIFT – MT/MX formats or only partly support them.
It eliminates the necessity to expand central systems with new elements, required by the regulator. Those changes often overload central systems, reducing their efficiency and flexibility and at the same time increasing costs, time and involvement of experts.
Selected functionalities
automated conversion of payment messages MT103, MT 103+, MT202, MT202cov
automatic conversion of statement and information messages MT900, MT910, MT940 and MT950
operated by standard web browsers and possible integration with bank’s Active Directory
e-mail notifications in case of the event that requires operator intervention
flexible architecture which allows to extend the list of converted messages
a possibility to choose a dedicated UI of the application
efficient message conversion support for many payment systems
secure operating of messages archive (both form of converted messages – before and after the conversion – are retained)
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