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A major bank in South America hired ECS for managing their money movement messages in a mixed environment. Some instructions were to be prepared in MT while others in MX formats. ECS utilized IMS to do the following.
A major hedge fund company in the US decided to utilize ECS for automating its money transfer requests with its Prime Brokers and Custodians. ECS provided its IMS for Institutional Transfers Module which offered the following:
A major hedge fund company in the US decided to utilize ECS for automating its Trade Settlement workflows with Prime Brokers and Custodians. ECS provided its IMS for Trade Settlement Module which was installed at the customer site. The application did the following:
One of the major hedge fund companies in the US wanted to migrate its SWIFT connectivity and management of all messages from a traditional provider to a robust platform that organizes all data traffic by category and provide user-friendly Dashboards for various type of users and Operations team. The platform is expected to reach 100% STP covering various type of transactions that include Institutional Transfers, Foreign Exchange, Securities Settlement as well as incoming Confirms and Statements.
ECS demonstrated IMS Gateway, its Enterprise Message Hub for organizing all data traffic for the prospect. The decision was made to do the migration. The following were accomplished in a very short period of time.
One of the UN companies evaluated ECS along with several vendors for about 9 months and decided to acquire its Statement Management Module. One of the objectives was to move to a paper-free environment. The organization used to print thousands of papers which were daily statements coming from its bank after having done money movement with more than 150 countries worldwide. IMS was engaged to manage statements so that statement printing can be stopped along with movement of papers from one user’s desk to another. Piles of papers already filling up the basement were destroyed. The roles taken by IMS are listed below
One of the larger corporates in South America evaluated ECS based on the references provided by one of the banks that was already using IMS for processing corporate payments. The corporate prospect generates millions of payment instructions each day which are low amount registries coming from various channels. The files carries large number of instructions which had to be identified, categorized, validated and processed for transmitting to various banks for further processing. The corporate utilized ECS data center and IMS application so that it can continue to enlarge the fast growing business without having to be concerned about technology limitations. IMS demonstrated its ability to process any type of file, do validations differentially based on categorization, prepare instructions in preferred formats and transmit to appropriate destination by various transport protocols. Responses are gathered to advance underlying instructions to subsequent stages. Dashboards and interfaces are extended to various user groups for monitoring, internal controls and exception handling.
One of the large banks in South America evaluated ECS for its ability to onboard corporate customers. The decision was made to engage ECS by utilizing the following modules
The bank managed to exhibit competing capabilities by offering to instantly onboard prospects thereby winning prestigious customers. Some of the capabilities of IMS that helps the bank in this competitive effort are:
One of the large banks in Asia spend about a year evaluating more than 15 vendors worldwide for identifying an innovative payment solution that best fits the need of all user groups. IMS was selected based on a list of credentials, features and functions.
The bank went live processing all incoming SWIFT messages, providing interface for each user-group for internal control and STP with multiple source systems within a month. Outgoing SWIFT instructions were completed in another 3 months.
RTGS payments, both outgoing and incoming were migrated in another 2 months. The solution consisted of IMS payment modules for RTGS as well as the client adapter that will interface/bridge between IMS and the Central Bank system.
Later, the bank recognized the value of preparing/processing ACH payments utilizing IMS modules catering to payment instructions and STP entries from/to several source systems. This migration took about 3 months against an anticipated one year.
Compliance check and duplicate checks were engaged at multiple points for operational efficiencies. At the time of creation and release for outgoing instructions. Incoming advices are checked at the time of receiving form external entities.
Cash management, became a valuable commodity across various internal departments. Estimation of cash positions at real-time along with balance enquiries, helped in real-time decisions and actual movement of money.
IMS collected incoming statements as well as batch files from internal systems for doing a series of Reconciliation. Payment Instructions were reconciled against statements and further matched against files from various systems.
IMS stored all data from messages, files, and documents in a central repository organized into multiple schemas. This became the source for various type of views as well as Reports for various business divisions and user-groups.
The bank’s savings on operation cost alone exceeded the overall cost of the project within the first six months of going live with first module.
One of the major international banks utilize IMS Payments for institutional transfers and cash management for its investment group. Source systems create files with minimum information that covers amount, from account, to account and value date. IMS does the following