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Manage Your Own Correspondent Bank Accounts
The current financial crisis shows how important it is to have an online complete overview on the liquidity on your correspondent bank accounts. In September 2008 critical payments were blocked because of insufficient liquidity and caused significant problems to businesses and banks.
Fides Nostro Expert helps you to manage the risks in correspondent banking closer and faster. The tool provides you with a standardized complete overview of all the movements on your accounts for payments and foreign exchange. Fides can aggregate account data from over 900 correspondent banks worldwide
The solution is based on SWIFT message types:
- MT 942 (interim transaction report intraday)
- MT 910 (confirmation of credit intraday)
- MT 900 (confirmation of debit intraday)
- MT 940/950 (client statement of previous day)
With the Fides Nostro Expert solution you can have an intraday view on your correspondent accounts, set alerts for special payments (High amounts, payments without notification) and download the data in numerous ways (time bound, adhoc) into your reconciliation tools.
Please find out more on the product sheet and do not hesitate to contact us.