The i-flex FLEXCUBE SWIFTNet Services Integrator (FLEXCUBE SSI) is a comprehensive suite of tools, consultancy services and SWIFT infrastructure support services to address all the SWIFTNet requirements of banks and to enable corporate users to extend the benefits they receive.

The suite includes a highly-scaleable messaging hub, and business-specific tools that help banks implement SWIFTNet services across various lines of business, and market infrastructure services, such as EBA STEP2 and TARGET2 within the Sepa regime.

FLEXCUBE SSI helps centralise SWIFTNet traffic by providing single access to business applications for exchanging messages over various services using SWIFT's newer protocols like FileAct and InterAct without making significant changes to existing business applications. It allows banks to address key trends in SWIFTNet today:

FIN traffic and usage has been growing annually at an average rate of 15 percent. FileAct adoption is growing by 40%, and InterAct by 18% p.a. With this increasing pace of traffic, financial institutions are facing a tough challenge in implementing and managing individual messaging solutions for every business service.
Newer business solutions are being introduced by SWIFT for areas like trade finance, cash management, investment funds, and many more. All these solutions are packaged with new XML message formats that adhere to ISO 20022 standards. Most financial institutions are now exploring options to use these new services beyond FIN messaging to optimize their investments in SWIFTNet.
With the recent decision by SWIFT to introduce a new participant category for corporate access, financial institutions have an excellent opportunity to offer various solutions over standardized corporate-to-bank connectivity.

Financial institutions can also offer value-added solutions to their corporate customers, taking advantage of FLEXCUBE SSI's complete integration with corporate enterprise applications, such as such as Oracle e-Business Suite and PeopleSoft, and with core banking applications, such as FLEXCUBE and those developed in-house.

FC SSI - MH is a value-added message concentration utility that helps exchange InterAct (for Cash Reporting, SWIFTNet Funds, amongst others) and FileAct (for securities reporting, Check21, bulked messages, amongst others) traffic over SWIFTNet.
FC SSI - C2B helps banks with centralisation, standardisation, processing and reporting of payments over SWIFTNet.
FC SSI - BT is a readymade SWIFTNet browse-based toolkit. This enables banks to share their applications with corporate customers and other correspondents through a common SWIFTNet window.
FC SSI Relationship Management Application manages SWIFTNet correspondent relationships and propagates them to internal subscribers (like SWIFTAlliance Access).
The FC SSI suite also has specialized solutions for ISO20022 standards, and also for SEPA compliance.
FC SSI - TARGET2 links between back-office applications and the TARGET2 system in order to help direct participants periodic feeds from the TARGET2 system, including the member directory.
FC SSI - STEP2 helps banks participate in EBA-STEP2 without the need for significant modifications to their payments systems.

All FC SSI business solutions can be deployed either as standalone solutions or coupled with FC SSI - MH for centralized SWIFTNet message exchange.

For more details of i-flex FLEXCUBE SSI visit iFlex Solutions.