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Business Applications for Banks

remoteGATE and the new SIC & euroSIC

Offering remoteGATE customers a SWIFT-FIN compliant upgrade to a full-fledged SIC & euroSIC solution.

SIC & euroSIC will be fully aligned with the new messaging standard ISO 20022. This decision affects, in particular, remoteGate users, who today are connected to SIC & euroSIC using SWIFT-FIN message types. remoteGATE customers must now migrate all SWIFT-FIN-based banking applications to the new ISO standard between November 2017 and November 2018, and connect to SIC & euroSIC via SWIFTNet InterAct.

These adjustments are not always possible or can be expensive. The company AnaSys AG, the proven provider of financial messaging solutions, offers remoteGATE users a SWIFT-FIN compatible upgrade to a full-fledged SIC & euroSIC solution with complete functionality. This allows remoteGATE customers to continue to use today’s SWIFT-FIN messages without having to change their banking applications to the new ISO messaging standard. The automatic reconciliation remains unchanged and uses the Details of the MT950 messages, as sent today by the Swiss National Bank.

 

Features

  • direct SIC & euroSIC connection with automatic conversion of the SWIFT-FIN messages into the new ISO 20022 SIC & euroSIC format
  • intuitive browser GUI for manual message processing and interactive queries from SIC & euroSIC payment transactions and account balances (online cash management)
  • the current MT 950 matching process remains unchanged
  • the fail-safe service is accessible via an encrypted https connection over the Internet (without the purchase of expensive hardware)
  • the service is compliant with existing contracts between remoteGATE participiants, Swiss National Bank and SIX Interbank Clearing AG

 

Customer benefits

 

  • no additional costs against today’s solution
  • no additional effort thanks to outsourcing (Service Bureau model)
  • no upgrade of the bank or SWIFT application
  • cost-effective SIC & euroSIC solution with full functionality
  • lower transaction rates of the SIX Group are applied
  • further service use secured also after an upgrade of the banking appli­­ca­tion to ISO 20022 without renewed effort (investment protection)
  • future use of the solution for all SWIFT traffic (also with embargo compliance for SIC, euroSIC and SWIFT)
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