Source: Decillion Solutions
Decillion Solutions Australia today announced that a project to automate reporting of cash and holding positions to BNP Paribas Australia's clients via SWIFT has been successfully completed and is in live production.
All SWIFT enabled clients of BNP Paribas have now connected and 1,200 messages per day are being generated.
Prior to the successful implementation, reporting of position statements to Investment Managers required significant manual processes. Increases in accounting and reconciliation standards, a desire to reduce the manual nature of the process, and a desire to increase service levels to Investment Managers by delivering SWIFT standard reports to allow STP were key business drivers in initiating the project.
The goal of the project was to automate the production of MT 950 and MT 535 messages using data from a proprietary data warehouse, utilising Microsoft BizTalk Server 2004 with the Microsoft BizTalk Accelerator for SWIFT 2.1. BizTalk handled all business process logic, message transformation, exception handling and system integration.
Tim Smithers, Manager of IT Strategy, Architecture and Development at BNP Paribas Australia commented on a number of reasons for BizTalk being their choice of integration software. "BizTalk is familiar to our developers, and integrates with the other development tools from Microsoft increasing the overall efficiency of our developers. BizTalk is also used within the Australian marketplace, and skills within BizTalk are available – overall BizTalk is a "cost effective solution" for us. Finally, the ability of BNP Paribas Australia to leverage BizTalk for other purposes, therefore providing a flexible and scalable solution which in the long term will assist to reduce the TCO."
An aggressive timeline was set for the project, targeting two months from initialisation to go live. Tony Katsigarakis, Project Manager at BNP Paribas, in reviewing the project commented that the project was complex from the perspective that they were dealing with something entirely new. However by
engaging Decillion in a collaborative approach, they were able to "leverage the domain knowledge of Decillion" in SWIFT and the BizTalk Accelerator for SWIFT to successfully deliver the project. The end result was the delivery of a project that exceeded the expectations of senior management at BNP Paribas Australia, and allows BNP Paribas Australia to enhance its position as a leader in providing services to the Securities Industry in Australia.