EastNets Expands SWIFT Service Bureau Capabilities
EastNets, a provider of compliance and payments solutions and services, has expanded its SWIFT service bureau with new value-added plug-ins for real-time SWIFT traffic reporting and the prevention of double processing of transactions.
The en.Duplicate Detection plug-in detects duplicate messages and prevents the emission of outgoing payments and processing of incoming duplicate payments to reduce the cost and complication of double processing. The en.Reporting plug-in enables users to display, monitor and report their SWIFT traffic data to increase transparency within a global, centralized and secured environment.
“The en.Duplicate Detection plug-in provides an extra layer of protection for our clients against potential complications and extra costs due to the double processing of a transaction. The new capability eliminates the risk of sending money twice by mistake,” said Erol Kaya, group director, product management of EastNets. “en.Reporting, on the other hand, centralises SWIFT traffic data in real-time, allowing users to display, investigate, monitor and report data. This functionality allows our clients to analyse in detail message flows and charges, while enhancing their revenue potential as they receive up-to-the-minute information about arrival of funds, which can then be optimally used.”