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Web-based Message Entry and Repair Users such as asset managers and brokers who originate financial transactions represent the beginning of a series of processing steps, most of which are largely automated. Very often these message origins involve manual communications such as phone, fax or email. Consequently, if there are errors in data entry, these errors propagate with the generated messages all the way downstream, if not intercepted early enough. This could translate to significant costs to the organization, such as paying for rejected SWIFT messages. It also introduces business processes, such as managing exposure to increased risk of unsettled transactions, which add no value but a lot of costs to the primary functions of the organization. Ideally errors of this nature should be avoided by providing the user with an intuitive, easy to use UI that eliminates the possibility of error to start with. However, such errors cannot be eliminated entirely. In such cases, it becomes important to:
The simple conclusion is that the more upstream those errors are caught and processed, the more effective the process. Volante WebForms for Message Entry and Repair offers this capability in conjunction with workflow applications from other vendors. Volante WebForms allows automatic rendering of web-based screens for wire-format messages such as those used in SWIFT or FIX. Integrating this to the orchestration capabilities of systems such as Microsoft BizTalk and Vitria BusinessWare, provides the end-to-end capability of Message Entry and Repair. Being a web-based system, such a solution can easily be implemented as a hosted service. This can be exposed to users as a single point of connectivity for various messaging requirements, such as:
Features of Volante's WebForms for Message Entry and Repair:
Volante makes it easy for users to build, upgrade, migrate or enhance any SWIFT solution. This is accomplished by using Volante's SWIFT ready products and Volante Services. These solutions enable business users to receive or generate SWIFT messages, process and map them to other formats and catch and handle exceptions as determined by business requirements. Sample solutions that can be rapidly built and deployed using Volante's Products and Services include:
The Volante SWIFT plug-in and related components provide extensive support for SWIFT messaging solutions. This includes:
Volante's Professional Services organization has considerable expertise in SWIFT messaging - particularly in SWIFT enabling customers' in-house applications and integrating them with the SWIFT network. Batch to Real-Time Connectivity Some firms are forced to make difficult decisions - their old manual and batch processing solutions are costly to maintain and more importantly in danger of obsolescence because their trading partners have moved on to real-time systems. The choices often are limited to either take the leap and radically transform their data centers, or rethink their business model and opt out of certain services.
Fortunately, there are less drastic ways of shifting up to STP. Volante's integration solutions can bridge the gap from batch to real-time. Volante's runtime environment allows you to read or write to files used by batch processing applications on one end, while records can be mapped to real-time messaging formats, which can be received from or written to applications that process them on the other end. Volante's multi-threaded scalable architecture ensures proper matching of transaction volumes.
Some of the key Volante features that enable this transition include:
The most significant value proposition from Volante is the ability to upgrade quickly and at low cost. This is made possible as a direct consequence of Volante's Model-to-Implementation approach, which eliminates any hand coding altogether.
With this option, customers can continue to get additional mileage from their existing applications, keep their current infrastructure and maintain their current business practices.
A Brief Overview
Every company faces the decision to "buy or build" when planning for compliance. Volante offers essential building blocks to aid in either the internal build of a compliance system, or in implementing a vendor's application solution. Some of the compliance systems require the gathering together of data on disparate systems in multiple formats, while other compliance systems require a specific messaging format to and from a regulatory entity. In either case, Volante's product suite can play a key role in the successful implementation of any compliance system. Volante's MSRB Solution
As a result of the work at MSRB, Volante is able to offer to the marketplace a turn-key solution for reporting municipal securities trades to the MSRB. We invite you to contact us for more details. Addressing Regulatory Challenges Using Volante
Almost all of the regulatory compliance systems require that data be accessed from multiple sources, scrubbed, re-formatted, and delivered to application processing systems. Volante's unique modeling tool and the automatic generation of code facilitate true collaboration between business and IT staffs to work productively and efficiently. We invite you to contact us to discuss how Volante can address your requirements. Increasingly financial industry firms are moving to their core competencies and eliminating functions such as hosting their own internal IT applications or any non-core functions such as clearing/settlement, trade matching, connectivity etc. The cost efficiency of using Service Providers for business processes and technical services cannot be overlooked. Service Providers can provide these functions at very low cost due to economies of scale. Technology advances such as Web Services has made it possible to provision such services and for clients to integrate them with their own internal systems. Such clients need not be aware of or concerned about message transformations, network connectivity, etc. They can instead directly access systems and applications at the Service Provider. Several business processes such as Trade Matching, Clearing and Settlement can be accessed over Web Services. 
In conjunction with Volante's partners, Service Providers can implement applications requiring sophisticated message handling, workflow and exception processing. The value of Volante's offerings arises from efficiently performing common message handling functions such as validations, transformations and monitoring. Since Volante's solutions can be deployed on various platforms including .NET and any J2EE compliant application servers - the primary platforms used to host Web Services, service providers can readily provision their applications via web services. Clients can connect to the service provider either from a browser or using real-time messaging systems. In either case, Volante provides the ability to automatically develop the components that need to be deployed at the client site. |
