Intelligent Swift communication
SmartCom is an innovative, platform independent, message communication solution for financial institutions.
SmartCom provides a unique service in the Central and Eastern European market with online support. The solution can be easily and quickly implemented in the infrastructure of the financial institution by the assistance of our expert colleagues, experienced in the field of message communication standards. This ensures fully automated message communication and proper message format, increases efficiency and compliance.
Automated SWIFT communication is the basis of international communication, improved co-operation, network-building and cross-border services. Using uniform standards fosters easier data service provision and better regulatory compliance.
New ISO 20022 SWIFT standard
Financial community has decided with consensus to move to the new ISO 20022 SWIFT standard, widely recognized as the standard for the future, with the payment and reporting messages.
Date of migration: November 2021, preparation should be started today!
Aforementioned decision further confirms EU guidelines to provide services for all customers without any discrimination in terms of accessibility, i.e. financial institutions have to provide all services to all customers independently of the message channel.
The aim of the change is to settle all capital and money market transactions using ISO 20022 messaging standard, whereas to enable financial institutions to provide all their domestic and international customers with automated and standard messages, real-time, tailor-made to specific needs, utilizing all possibilities of the SWIFT toolbar.
This imposes a huge challenge on the capital and money market actors in the coming period.
Solution is SmartCom, „the intelligent communication tool”