2 Generic Wires ISO Overview
The Generic Wire ISO module (product processor) of Oracle Banking Payments is a standalone product processor. The payments module provides out of the box support for processing inbound and outbound SWIFT CBPRPlus and TARGET2 Payments. This module helps you process cross border funds transfer transactions between financial institutions based anywhere across the globe and high value RTGS transaction between financial institutions within the country or within the region.
Key Features of Generic Wires ISO Product Processor
- Support for Inbound, Outbound, Outbound pass-through, SWIFT CBPRPlus, and TARGET2 payments.
- Support for Straight through processing of Inbound and Outbound messages.
- Outward Generic Wires ISO payments initiation using following ways:
- UI
- Single Payment Services
- C2B pain.001
- MT 101
- Support for exception processing. The transaction moves to the relevant dedicated exception queue when any exception encountered during processing.
- Support for automatic payment chain building - Derivation of Instructed Agent of direct / Instructed Agent of Cover based on Correspondent maintenance.
- Supports Universal confirmation
- Automatic generation of Universal confirmation
- Manual generation of Universal confirmation
- External Code Sets supports as published in ISO20022 website as on 2Q2021.
Key Features of Transaction Processing
- Data enrichment
- Bank Redirection / Account Redirection / D2A / Settlement Instruction defaulting
- Validations
- IBAN validation
- Special Character validation
- Regulatory checks
- PSD2 / EU Payer
- FX Support
- Small FX
- Internal / External Exchange Rate pick up
- Pricing
- Standard Pricing
- Rule Based Pricing
- STP Layer
- Rule based Cover matching
- Cover matching across message formats (MT & MX)