National Bank of Canada (NBC), Caisse Centrale Desjardins (CCD) and Laurentian Bank of Canada (LBC) have all deployed SwiftNet exceptions and investigations (E&I) software from US-based Expertus.
All three banks are live with the technology and are reporting reduced E&I resolution times and costs.
Andre Richard, VP, strategic initiatives, LBC, says: "The application selects automatically the financial message format that matches the recipient's capability, either in Swift XML formats or the FIN messages traditionally used for E&I enabling us to eliminate much of our current processes."
"This success demonstrates that a community of banks can achieve individual benefits through cooperation", said Catherine Banneux, of Swift. "All three participants have gained access to a new service without concessions on their value proposition."