Dexia Banque Internationale à Luxembourg has licensed the ProRepair package from TietoEnator for the automatic repair of payment messages transmitted over the interbank Swift network.
ProRepair performs automatic repairs on financial messages and will replace the bank's current third party solution. The package was selected after extensive on-site benchmarks on the bank's Swift traffic, says Michel Harlange, manager – IT money transfer & Swift.
"Achieving high levels of straight through processing (STP) is crucial in today's competitive electronic messaging," he says. "We have chosen ProRepair from TietoEnator for its combination of a proven increase in STP rates, cost efficiency in maintenance and ease-of-integration in our environment."
Operating in an NT or Unix-based environment, ProRepair is a component-based system which enable banks to create repair commands to match their internal business processing rules.
Jon Alvar Øyasæter, deputy managing director, international banking systems, TietoEnator Financial Solutions, says: "ProRepair operates without the lexicons commonly used by older systems, thus avoiding the high maintenance cost they represent."
The software also provides a blacklist scanning facility for both the US Treasury's OFAC list and for TietoEnator’s own classification mechanism, he adds.