Contact

SWIFT Services Unit
Business line for inter-bank clearing

phone: (+48) 22 545 53 04
e-mail:

If you have any further questions regarding the product, please contact us. We will make every effort to respond to your questions as soon as possible.

Access to business services

KIR, as the SWIFT Service Bureau, provides the bank with access to many financial services in SWIFTNet, one of them is SWIFTNet Cash Reporting.

SWIFTNet Cash Reporting – the service has been established in response to the need to exchange real-time information about cash balances on accounts with different institutions. SWIFTNet Cash Reporting allows:

  • Service Providers:
    - to gain a competitive advantage by offering advanced services to their clients,
    - to increase the level of client satisfaction by timely provision of information to the owners of accounts,
    - to streamline clearing risk management by real-time access to information about balances on various accounts.
  • Service Users:
    - to better monitor cash positions,
    - to make more accurate calculations of global involvement and obtain greater transparency of clearing risk,
    - to improve error detection and streamline error handling processes,
    - to improve operational efficiency and shorten complaint handling processes,
    - to increase the level of STP (Straight Through Processing) and introduce full automation of the payment transaction cycle.

What are the benefits of SWIFTNet Cash Reporting in different areas of cash management?

  • Liquidity management – access to reliable and accurate information about the status of the transaction and the balances on the accounts before closing of the clearing systems allows to streamline the liquidity management.
  • Risk management – access to information on the nostro accounts in real time allows the banks to monitor, on an ongoing basis, their actual exposure towards other financial institutions or clients. As a result, the clearing risk and credit risk are significantly reduced.
  • Exception handling – earlier detection of non-compliance (e.g. blocked or queued transactions) greatly facilitates and shortens the process of its removal. With the decreasing number of queries received the bank's costs are optimized and customer satisfaction is increased.
  • Extending the offer for customers – users may use information about the nostro account in real time in order to accelerate the provision of services to their own corporate clients or other financial institutions.
  • Process improvement – information on nostro accounts in real time enables the banks to conduct internal structural changes relevant to back-office processes, which lead to significant cost savings.

 

Sanction Screening - service provides messages’ screening against up-to-date and comprehensive sanctions lists in real-time. Service enables a range of logical tests (to detect misspellings, abbreviations and phonetic similarities) and sensitivity thresholds and maintain 30 sanctions lists from all the major regulatory bodies The screening engine is hosted, managed and maintained by SWIFT.

Bank can choose real-time screening of all structured message formats (FIN, ISO 20022, SEPA and non-SWIFT formats) or just incoming and outgoing FIN messages.

To ensure bank can handle flagged messages in line with its overall compliance and operational processes, the filter can be set to block all suspicious transactions for investigation, or to alert bank to matches without blocking delivery. There’s also a choice of standard or “4-eyes” workflow options.

Bank can select the sanctions lists it wants applied, and add its own lists.

Service has also built in automatic monthly reporting along with the needed audit requirements like a trail of all configuration choices, actions and decisions; screening parameters; most relevant matches; and sanctions lists content.