B2 RCP Launches a Fax to SWIFT Message Translation Service for FX
B2 RCP, working with Neurosoft, has launched FAX2MT, a service for converting incoming client confirmation faxes into fully-validated SWIFT MT3xx series messages.
Paul Burgess, chief executive officer (CEO) of B2 RCP, said: “Many of the world’s largest banks already use Neurosoft’s software to convert incoming fax FX trade confirmations into SWIFT MT3xx series messages. With our secure, financially regulated messaging hub in Luxembourg, we are in the unique position of being able to offer this facility as a pay-per-use service.
“This means that banks with fax volumes too low to justify the cost of installing the Neurosoft product in house can simply send a fax image or PDF file to the B2 hub and receive a fully-validated SWIFT message in return, significantly increasing their level of STP [straight-through processing] at a minimal cost. Where the fax is not sufficiently clear to allow the message to pass the stringent SWIFT validation criteria, the bank’s back office team can repair the message using an easy to use graphical user interface.”