Making rules for the exceptions

A SWIFTNet initiative to improve automation of exceptions and investigations presents a compelling business case.

Handling exceptions and investigations (E&I) remains one of the costliest aspects of the payments process and one that presents substantial barriers to automation An initiative by SWIFTNet to improve automation of E&I through a rules-based processing system has the potential to reduce payments-related costs and improve customer service

Current systems for handling E&I are both expensive and time consuming, said Pascal Deman, board member of SWIFT and CEO of Fin-Force, in a session entitled "Exceptions and investigations management – a real source of value for the banking system"

Industry estimates put the average cost of handling an exception at between Eur15 5 and Eur20 in a manual environment and around Eur10 70 in a semi-automated...

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