SMART-NOSTRO is a Real Time automated Nostro, Vostro and Internal Accounts Reconciliation System.
The reconciliation is typically based on SWIFT Statement messages:
Data can be automatically transferred and captured by SMART-NOSTRO in order to ensure Real Time operation.
A full range of manual input capabilities is also available, allowing the input of Statement Pages not captured automatically.
A wide range of standard reports is available within SMART-NOSTRO. Reports such as:
The system also supplies Statistical Reports such as:
All facilities for the generation and production of reports are screen-based, allowing total user flexibility.
Matching qualities for each message type are user-defined by specifying the fields that must agree. These qualities may be system-wide or correspondent specific.
SMART-NOSTRO uses these qualities to determine whether a match should be automatically CONFIRMED as acceptable, or OFFERED to the users for review. Matches can be
Matches may consist of: one item against one item, or multiple items, i.e. one against many (up to 99,999), or even many against many.
Special facilities are also available to fine-tune and continually improve the Automatic Reconciliation Rates:
Allows the set up of Synonyms to references sub-fields 7, 8, 9 of field 61. The user is able to specify a number of different references that can match to one specific reference. Synonyms can be defined as a sub-string of any of the three references in an item.
Allows the user to tell SMART-NOSTRO to match one part of a reference to another, e.g. if an internal reference is “950615ABC123” and you generally receive only a partial reference of "ABC123" from your correspondent, then this can be automatically matched.
Records are held on-line in their original complete "statement" format, with “drill-down” facilities for either viewing individual pages, or the full details of individual items.
The details of all individual records and matches, complete with full audit trail, can be viewed at any time.
“Outstanding” unmatched items may be viewed on the screen or printed, with full scrolling facilities for easy user scanning and selection.
Fast, screen-based parameter searching with tolerances is available, using all major item fields as search criteria, allowing complete flexibility for any ad-hoc enquiry requirements.
After a user-defined time period, data may be archived, complete with full audit trail, including copies of all relevant follow-up messages and match details.
All records and matched items within the system are held in work queues for ease of user access and processing.
SMART-NOSTRO is totally multi-user in terms of access to these work queues.
As part of an enquiry, users can open an investigation folder directly from SMART-NOSTRO into the SMART-RESOLVE module.
No restriction on hardware platform or operating environment
Open-Systems environment means system can easily be migrated from one hardware platform to another, changes in IT strategy are not a problem.
Installation (complete with system set-up and training) for SMART-NOSTRO can typically be accomplished in one week.
Full range of upgrades available, to allow additional SMART modules to be added to the system when required.
Any size system can be configured, from single workstation up to fully networked, multi-user global installation.
Each SMART solution is individually configured to suit the customer’s specific requirements
Whether the system is required for just Nostro Reconciliation, or for other message matching and reconciliation functions, you get the most efficient system for your needs.