MGPS Exceptions and Investigations

Institutions have struggled to resolve the issue of very resource-intensive enquiries management process. Adressing this now becomes a priority as banks need to reduce their costs and customers look for better service.

Many institutions are already achieving impressive STP rates. It's clear however that the cost of handling post payment release activities, namely Exceptions and Investigations, produces a multiplier effect on the total cost of a payment. In payments operations departments, an average of 2-5% of all payment transactions made result in an enquiry. Unfortunately, the cost of resolving these people-intensive exceptions consume up to 25% of trading profits. Management of exceptions remains the most resource intensive and costly activity for payment institutions.

The MT to MX adoption plan Current FIN related message standards (MT192, MT195, MT196, MT292, MT295, MT296) do not cater for the industry business requirements . To allow for consistency and single standard support, SWIFT will remove them from the network provided the agreed MX adoption milestones are being reached. Current decommissioning target date is end of 2012.

Expertus' case management tool assists institutions in raising their STP rates by improving productivity and customer service. The MGPS Exceptions and Investigations module is a SWIFT-certified solution that enables and automates the messaging and business process for all SWIFTNet initiated investigations. It support coexistence of MT and MX messages and provides the features to improve the case management process. 

SWIFT has selected Expertus to provide a cost effective solution with a smooth implementation path. The solution is scalable, enabling an organisation to start with the off-the-shelf module and to evolve towards integration at its own pace. Click here to read all about it.

In this model, the institutions are not required to make any preliminary investments in a case management application and associated infrastructure. The usage of a shared case management application hosted by a Service Bureau for a few dollars by case helps banks to increase their productivity at the lowest cost possible. They can also expect to be charged by their Service Provider at a lower rate  than for free-format enquiries. They are able to use the service independently from their current model of connectivity.

"E&I as a service" is not restricted to a fully manual access. Integration of the data in the back-office application is also an available model that will allow for automation. Click here to read all about it.

This model fit mid to large size banks who want to benefit from a solution more integrated to its existing back office applications. Easy to integrate, MGPS E&I enterprise version leverages effectiveness, STP, customer service and while reducing operational cost. It's the ideal solution to replace existing obsolete case management application without major investment. Click here to read all about it.