wipro.com Examen for SWIFT

Transcription

1 wipro.com Examen for SWIFT

2 In the banking and financial services industry, interdependence among stakeholders such as banks, securities organizations, and payment infrastructures across geographies and time zones is very high. Technologies that underpin these interdependencies are constantly evolving to meet business changes, mitigate risks, and reducing inefficiencies, to offer a seamless experience to the end users. SWIFT is the most widely used communications platform for enabling international financial transactions. SWIFT provides a number of benefits - reduction in operational risk and fraud, increase in customer satisfaction, security, easier regulatory compliance and reliability. Challenges in SWIFT compliance Timely upgrades: SWIFT upgrades its messaging protocols annually in what is called a standards release. Members are expected to upgrade their applications to be compliant with the latest standards and the timelines are stringent. The critical nature of SWIFT MT messages makes this compliance critical to adhere to. Financial implications: SWIFT members are likely to be penalized and their businesses impacted for non-compliance with the latest standards release. How do you ensure that your applications comply with the latest standards of SWIFT releases regularly? How do you focus on your core business without spending too much time and effort on SWIFT compliance? 2

3 Simplifying application testing for SWIFT compliance Examen for SWIFT from Wipro Testing Services is a web-based solution which helps SWIFT members test their applications for SWIFT compliance quickly and easily. The solution simplifies the regular maintenance and upgrade of applications to comply with the latest standards of SWIFT releases and helps you to focus on your core business. Key features The key features of the solution include: MT message repository: The MT repository is a set of exhaustive test messages that are compliant to the latest SWIFT standard. The messages encompass the message types 1XX, 2XX upto 9XX covering the business domains of payments, treasury, and trade and securities. The test messages ensure coverage of all semantic and syntactic SWIFT rules. Customization: Existing MT test messages and message fields such as country, currency, and BIC ID can be customized for your customer to suit specific requirements. MT message validation: The validation service helps you sanitize MT messages for syntax and semantics. You can validate a large number of MT messages in a few seconds. You can also capture multiple errors in an MT message in a single instance, thereby reducing testing iterations. MQ connectivity The solution enables seamless and speedy exchange of test messages between Examen for SWIFT and Application Under Test through MQ. 3

4 Key benefits Our Examen for SWIFT solution offers you several benefits: Enables faster time-to-market: The repository of MT test messages compliant with latest standards release helps to jumpstart application testing for SWIFT compliance. Reduces efforts: You can expect 30% reduction in the effort for application testing for SWIFT compliance. Supports independent validation: You can avoid connecting to SWIFT Test Network or any other counterparties to test your application for SWIFT compliance. Provides reliability: Our services ensure that your SWIFT compliant applications are highly reliable. Helps focus on core business: With our solution ensuring compliance readiness faster, you can fully focus on your core business. 4

5 The Examen advantage Time in units 1 unit Scenarios Identification Test Design 1 unit Traditional Process Tag/Values Coverage Test Suite 10 units Test Messages 2 units Validation 3 units 30% reduction 3 units in time Time in units Pre-developed Test Messages 0 unit Examen Process Test Suite 7 units Gap Analysis Gap Coverage & Selection 3 units Customization 4 units The traditional process requires the testing team to identify the scenarios and design the SWIFT test cases from scratch, thus consuming time and efforts. With its exhaustive test message repository, Examen for SWIFT eliminates the need for SWIFT test message creation. The testing team only needs to perform the gap analysis to ensure maximum coverage and customize the messages as per specific requirements. 5

6 About Wipro Wipro Ltd. (NYSE:WIT) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of Business through Technology. By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 160,000, serving clients in 175+ cities across 6 continents. For more information, please visit wipro.com or write to us at info@wipro.com DO BUSINESS BETTER CONSULTING SYSTEM INTEGRATION BUSINESS PROCESS SERVICES WIPRO LTD, DODDAKANNELLI, SARJAPUR ROAD, BANGALORE , INDIA TEL: +91 (80) , FAX: +91 (80) Wipro LTD 2016 IND/PMCS/JUN2016-DEC2016 No part of this booklet may be reproduced in any form by any electronic or mechanical means (including photocopying, recording and printing) without permission in writing from the publisher, except for reading and browsing via the world wide web. Users are not permitted to mount this booklet on any network server.