28 July 2014

WGZ Bank Germany rolls out Swissrisk FinTrace

19 June 2012  |  1297 views  |  0 Source: Swissrisk Financial Systems

Swissrisk Financial Systems, a Dion Global Solutions Company, has announced today that WGZ Bank Germany has taken FinTrace into production for the automation of their payment investigations.

The system is now used to manage enquiries from over 200 connected correspondents of "Volks-und Raiffeisenbanks" and WGZ BANK. With the successful implementation of FinTRACE, the bank has optimized the enquiry processing with an electronic solution that guides the user to take the appropriate actions at the right time and provides him/her with online interfaces to the bank's archives for SEPA and high value payments to allow for details of the underlying transaction to be easily viewed. FinTRACE connects WGZ BANK's correspondents in real-time by automated communication channels such as SWIFT, email and fax messaging.

FinTRACE is an entirely rule-based case management system used by financial institutions to automate their investigation process for financial transactions in their payments, securities and FX/Money Markets areas. The product has a comprehensive web-based user front end and is SWIFT Ready certified for Exceptions and Investigations.

Martin Holtmann, Senior Vice President and Head of Product Management Payment Service Division at WGZ BANK, said, "FinTRACE brings us a broad series of benefits for our daily business and we are now able respond to client requests much faster. FinTRACE functionalities fit ideally into our business process landscape. All involved project parties, the WGZ BANK team, the IT-provider GAD and Swissrisk, have done a great job to finish the first project phase successfully. At the end of the second project phase, our member banks will have direct access to the system by using a special 'Customer Module' of FinTRACE."

Dirk Vesper, VP Product Management at Swissrisk, said, "FinTRACE is a flexible and powerful investigation case management system that addresses all of the requirements of the complex environment of WGZ BANK. The application combines the concept of central electronic case management together with a tight integration into the customer´s application landscape. We are delighted to have WGZ ve WGZ BANK, a leading financial institution in Germany, among our active FinTRACE customers" 

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