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The Microsoft BizTalk Accelerator for SWIFT
will extend the BizTalk Server platform to provide
the most comprehensive, reliable and secure
delivery of financial messaging using the SWIFT
format and network for customers in banking,
capital markets, payments, and corporate
finance. |
Financial institutions (FIs) are faced with a
daunting challenge: a myriad of applications and systems
that need to be integrated with customers, partners, and
external financial networks. However, they can no longer
afford integration projects with long delivery cycles
and drawn-out returns. Gone are the days of massive,
enterprise wide integration implementations—the current
economy has changed both the rationale and the
techniques that FIs use in defining, purchasing, and
implementing integration solutions. FIs are now looking
toward financial messaging technology as a way to
differentiate their businesses, including simplifying
their infrastructure and reducing cost all while
providing greater flexibility to handle the changing
customer requirements and continuous regulatory and
standards changes. They are also looking to new,
innovative, low-cost industry standard components to
help drive down cost of implementation and maintenance.
Microsoft is positioned to deliver the
next-generation enterprise integration solutions that
are capable of meeting these demands. The BizTalk Server
platform changes the economics of financial messaging
and integration, making it possible for financial
institutions to leverage EAI technology in solving
business challenges. BizTalk Server and the BizTalk
Accelerator for SWIFT, reduce the complexity of
financial EAI, and deliver rapid return on investment
through accelerated deployment timelines, simplified
architectures, and lower initial and ongoing costs.
The Windows Server System with BizTalk Server
provides financial institutions with a comprehensive set
of SWIFT solutions including:
- Banking solutions for payments and cash management
- Capital market solutions for trading, treasury,
custody, and corporate actions
- Corporate solutions for payments (including supply
chain transactions), receipts, cash management,
treasury
The BizTalk Accelerator for SWIFT will deliver
enhanced messaging capabilities, specific formats and
schemes for financial services standards, and middleware
integration tools. Highlights include:
- Unprecedented Automation
Capabilities : The Accelerator for SWIFT
enables securities firms and banks and their corporate
customers implement a financial value chain,
automating the initiation, settlement, and
reconciliation of payments, trades, cash management
and other financial transactions. This enables a
dramatic reduction in the time and cost associated
with settling and reconciling transaction. The BizTalk
Accelerator for SWIFT includes the RosettaNet Payments
Toolkit, a process for the automated initiation,
settlement and reconciliation of supply chain
payments.
- Microsoft Office InfoPath™
Integration : InfoPath™ 2003 helps you
simplify the information-gathering process and makes
it easy to reuse that information throughout your
business. InfoPath 2003 provides information workers
with tools that enable them to create dynamic forms to
gather and share information across a wide range of
business processes. The Accelerator for SWIFT provides
all SWIFT FIN and XML messages as InfoPath templates,
enabling manual message entry and repair facilities.
- Enhanced Scalability : construct
massively scalable messaging and orchestration-based
applications through scale-out architecture. It meets
the demands of even the largest enterprises with
built-in support for multiple-processor servers,
server clustering and integration with unlimited
internal applications and external partners.
- Business Activity Monitoring :
Getting the information you need at the right time is
critical. Business deals and partnerships are often
made or broken solely on information access. The
advantage frequently goes to the business that is
armed with the best information. The Business Activity
Monitoring (BAM) framework in BizTalk Server gives you
that advantage. By opening a window into running
business processes, BAM provides business analysts
direct visibility into transactions—an area that has
traditionally been closed to them
- Microsoft Visual Studio® .NET Development
Environment: increased developer productivity
through a common development environment, and inherit
all the capabilities of Visual Studio .NET and the
.NET Framework.
What's in BizTalk Accelerator for SWIFT
The BizTalk Accelerator for SWIFT:
- Includes the complete set of schemas for all SWIFT
FIN and XML messages, including InfoPath-based entry
and repair templates
- Provides for all of the SWIFTNet connectivity
modes, including SWIFTNet including FIN, SWIFTNetLink
(SNL), InterAct and FileAct
- Interactive connection to the SWIFT Alliance
interface and automated file transfer using MQSeries
(MQSA)
- Support for Market Practice Groups, including
alternative validation sets and versioned schema, to
support the needs of special groups (by country and
message type, for example)
- Provides support for compliance with Straight-Thru
Processing (STP) guidelines, best business practices
with regard to messaging by enforcing rules, and by
allowing the addition of further rules to ensure the
most automated processing possible
- Incorporates RosettaNet Payments Toolkit --
features for the payments and advising exchanges
between banks and their customers, and for the
buyer/seller exchanges of remittance advices with
automatic reconciliation.
- Validation of the outgoing messages against the
syntax definition of SWIFT messages including the set
of network validation rules present in the SWIFT User
Handbooks, market practices and specific business
solutions templates
- Provides well-validated messaging for both
outgoing and incoming traffic, and enforces the
validation no matter what the source of the message
(application or manual generation)
- Mapping of data fields based on the logic, not
just field name
- Enrichment based on mapping rules and other data,
including adding data according to mapping/processing
rules from lists, transformations, or database
look-ups
- Integrated Remote API’s (RA) for SWIFTAlliance
Gateway
- Incorporation of the BIC+ directory supplied by
SWIFT as the editing validation for the appropriate
addresses. Local updates for FI use are supported
- Reconciliation of ACKs and NAKs, and with
appropriate workflow action upon exception. The
BizTalk Accelerator for SWIFT uses the orchestration
and correlation features of BizTalk to monitor ACKs
and NAKs, and report exceptions to the appropriate
user function
- Includes InfoPath templates for repair and
verification of problem messages which incorporate all
of the validations applied to automated messages
- Incorporates pre-defined workflows defining
verification steps for all messages entered or
repaired manually
- Includes InfoPath templates for manual entry and
verification all of the message types and
SWIFT-defined XML schema
- Supports user functions at remote locations, even
where the connection to that location is intermittent
(such as over the telephone). An internet, intranet,
or leased connection is not required.
- BizTalk Server contains copies of the message at
every stage of processing, providing a full,
searchable audit trail
- Support for user inquiry functions, business
activity monitoring type inquiry functions (several
standard, FI can add more), and health activity
tracking inquiry functions for system-level analysis.
- Enables unlimited message storage, and archiving
facilities concurrent with system operation
- Provides for high-availability, resilient server
configurations
- Employs the orchestration definition facilities of
BizTalk Server, which utilizes Visio in the standard
Visual Studio.Net development environment
- Support for content-based routing of messages on
any group of fields and/or sub-fields in a message
- Includes support for financial EDI
- Special features include extensible business rules
and extended use of dictionary facilities to define
messages and templates
Next Steps
To learn more, see the following resources.
Microsoft White Papers
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