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SWIFT says 17 banks and companies are now using its exceptions and investigations solution.

Five weeks after going live, as many as 17 banks and companies have signed up to use SWIFTNetÆs latest payments solution which automates enquiries and error handling. And there are more banks queuing up to join, including an as-yet-unamed Chinese bank.

The exceptions and investigations EI platform introduces new message types to automate the processing of errors in payment instructions. The pilot of the platform was completed in May and the system went live on 8 September.

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