2. Cross Border Overview

 

The Cross-border (SWIFT) Payments module (product processor) of Oracle Banking Payments is a standalone product processor. Payments module provides out of the box support for processing inbound and outbound SWIFT Payments. This module helps you process funds transfer transactions between financial institutions based anywhere across the globe.

Key Features of Cross Border Product Processor

l Supports Inbound, Outbound and pass-through Outbound Cross border SWIFT payments.

l Supports Customer Transfer, Bank Transfer, Cover Transfer and Bank Transfer Own Account Cross-border SWIFT payments

l Supports Straight through processing of inbound and Outbound messages are supported.

l Outward Cross border payments can be initiated in one of the following ways:

– UI

– Single Payment Services

– Bulk File upload - C2B pain.001

– MT 101

l Outward Cross border payments can be initiated in one of the following ways:

– UI

– Single Payment Services

– Bulk File upload - C2B pain.001

– MT 101

l Support for exceptions processing. Any exception encountered during processing will move the transaction to the relevant dedicated exception queue.

l Supports automatic payment chain building - Derivation of Receiver / Receiver of Cover / Intermediaries based on Correspondent maintenances.

l Supports SWIFT gpi (Global Payments Innovation)

– SWIFT gpi Directory Upload

– SWIFT gpi Mandatory Services

gCCT (SWIFT gpi Customer Credit Transfer)

gCOV (SWIFT gpi Cover)

gSRP (SWIFT gpi Stop and Recall)

– SWIFT gpi Optional Services

gFIT (SWIFT gpi Financial Institution Transfer)

l Supports Universal confirmation

– Automatic generation of Universal confirmation

– Manual generation of Universal confirmation

– Suppression of Universal confirmation