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PRODUCT - Functions



SWIFT FIX

Based on the different transactions input in the system, the OLYMPIC Banking System is able to automatically generate SWIFT FIN (15022) and SWIFT XML (20022) messages which are then transferred to the SWIFT gateway. Incoming SWIFT messages can also automatically generate transactions in the system. SWIFT incoming messages can be setup in STP mode and can involve a manual validation process before the SWIFT message is accepted in OLYMPIC.
An easy-to-use, flexible and user-friendly administration console is provided to manage both incoming and outgoing messages, specific message structures, as well as monitor the Acknowledgements on the network and the management of eventual issues.

The OLYMPIC Banking System is fully SEPA compliant and offers fully integrated functionalities to create and manage SEPA Credit Transfers and Direct Debits.

For Credit Transfers, the system allows checks to be performed in order to determine whether a transfer is a SEPA-type transaction. If the outgoing funds' transaction is a SEPA-type transaction, the transaction code of the transfer is changed into a SEPA-type code by the program. The code is checked at the end of the transaction so as to ensure it remains a SEPA-type transaction and that any alterations made by the user do not change its status.

For SEPA Direct Debits, the system provides functionalities to manage the identification of creditors (SCI) according to the EPC structure, the registration and management of the mandate life cycle, the related XML messages as well as the automated generation of debit transactions

The OLYMPIC Banking System also offers fully integrated Orders and Trades processing over Electronic Exchanges and via Brokers (bonds, equities, options, futures, funds). The transmission orders and their execution can be fully or semi-automatic according to the requirements of the bank. The OLYMPIC Banking System disposes of standard interfaces with different transmittal systems via FIX (Financial Information Protocol).

OLYMPIC Banking System supports a very large number of SWIFT messages