BINETIX NETWORK

The Corporate transactions Module is embedded in the User Portal as a main menu item and as a set of shortcut keys on the Home screen. Visually, the menu position and the function keys depend on the granted rights and the installation of other modules.

The Module provides functionality for:

1)Management of the Business Processes, Documents, Communications and Accounting Transactions related to Corporate Transactions when receiving and processing MT101 and other SWIFT support messages;

2)Management of outgoing statements and generating Reports MT940 and MT950;

3)Generating and storing of Reports on MT942 stocks.

Receiving new corporate transactions can be initiated in two ways:

i.Automatically when receiving a MT101 message via SWIFTNet;

ii.Manually receiving MT101 on another channel  â€“ the manual receiving is controlled by a screen using one of the following available functions:

▪Manually creating and inputting from a screen – manually complete all requisites without relying on a description from another source of information, such as a file for example;

▪Manually creating from a file – specify a valid SWIFT (so) file that contains a MT101 message. The System automatically reads, analyzes and writes the file into the MT101 Registry;

▪Manually creating from a template – This creation method enables you to generate new Record similar to an existing MT101. A bank expert can adjust the record according to the specific context.

As a result of the successful creation of a new MT101 entry, a corporate transaction file is generated, which stores all documents and messages in transaction processing. The Record also contains information about the history of the activities - accounting and operational.

The automatic creation of a new MT101 corporate transaction record is also associated with automatic field mapping - this means that the System analyzes the content of the MT message received and all the fields detected in the message are retrieved and filled in automatically in the registry. There are rare occasions when this is not possible - when receiving damaged or invalid messages or free text messages. Such messages are stored in a special Unrecognized Messages log (explained in the description below).

Additionally, bank experts have the option to filtrate among the received MT101 by various fields and filters. An example configuration of the filters is shown in the figure below.

Advanced filtering capabilities are significantly more than those shown in the figure and are standard for the System's User interface.

The Registry of received Corporate transactions allows you to review the working status of the files, allowing the expert to have an overview of the progress and expected changes - a particularly useful feature when integrating with external centralized systems.

Detailed information about a selected corporate transaction can be obtained by clicking on the "Details" button.

The figure below shows an example of a Record of Corporate transaction created as a result of a received MT101 message. According to the state of the Record, the fields can be viewed and / or edited.

The unified user interface of the module provides access to:

   â€¢ Data and fields extracted from the common parts of a MT101 message;

   â€¢ Data related to sender, client and recipient of transaction;

   â€¢ MT101 information about correspondent, sending and receiving bank;

   â€¢ Information on used accounts;

   â€¢ History of operations and other user fields.

From the main screen the expert has access to:

   â€¢ Registry of transactions associated with the processing of the current Corporate Record;

   â€¢ Registry of documents and SWIFT messages associated with the current Corporate Record;

   â€¢ Registry of the accounting operations by which the expert can monitor and manage the status of the started operations.

The User of the System can receive and edit detailed information about the Corporate transaction Record after marking it and by pressing the "Details" button. The Corporate transaction Record consists of detailed information about:

▪Transaction data grouped by categories;

▪Access to Orders, through which the user can participate in the execution of the respective business processes;

▪Access to the documents attached to the Record of transaction;

▪Access to screens for managing accounting operations (outside the scope of this document).

The figure below illustrates a sample of the interface for access and change of requisites of the money transaction. (for security reasons, personal data fields are blurred)

Each Corporate transaction in the System has a Record containing documents and operations. Upon receiving a new MT101 message, a content analysis is performed. The transactions contained in the main message are automatically retrieved. These transactions are saved in the respective Record as shown in the figure above.

The Module enables the expert to initiate accounting operations, as well as generate accompanying SWIFT messages such as:

•The performing of accounting operation automatically generates MT103 on RINGS, BISERA, TARGET 2 or SWIFT. Other payment channels, such as payments to the Budget, may be supported - additional coordination is required to specify the interface to other types of payment channels.

•The status of the accounting operation can be monitored by status transitions such as: For Accounting → Accounted/ Not accounted → Completed. Intermediate workload monitoring statuses can also be added when integrating with external systems, such as when charging fees and waiting for acknowledgments.

•Where applicable, as a result of the received MT101, in the accounts of the financial institution in which you operate, can be generated and automatically accounted a transaction to the beneficiary's account as an internal bank transfer.

•The received MT101 message causes debiting of accounts on the transactions and the respective charging based on the pre-set fees - it is necessary to specify the interfaces of fees of the organization you are working for.

•It is possible to manually generate MT195, MT196, MT199, MT999 messages.

The Module "Corporate transactions" integrates with the functionality for processing, monitoring and management of SWIFT messages - the Module "SWIFT operations". The System has a built-in Registry and  editor of SWIFT messages.

The figure above shows a MT101 message that is registered in the System manually from a file. For some security and confidentiality reasons, some fields are blurred.

The built-in editor is a powerful tool in the hands of the expert - it can change and validate content as well as generate new messages. What's more, from this screen, the expert can also monitor the working status of the message throughout its life-cycle during SWIFTNet communication.

Upon receipt of incoming SWIFT communications in connection with Corporate transaction, such as MT192, MT199, MT195 and MT196 from a bank or corporate SWIFT address, the Module attempts to automatically recognize and associate the messages to the Corporate transaction Record. The recognized messages are automatically registered into the Corporate Record. Otherwise, they are recorded in the Unrecognized Messages Registry, from where the expert can manually verify them and connect them to a specified MT101 Record.