News & Articles

Customizing Financial Software Solutions
  • Updated SWIFT Functionality

    MIMICS has offered an interface with SWIFT since 2008. However, we have made further updates to this interface recently. SWIFT messages that are automatically produced by the MIMICS systems can now be sent to SWIFT Alliance in 3 methods: 1) through a direct interface via MQ Series or other message transfer protocol, 2) Written to file in a specified network folder 3) or displayed in a pop-up form to allow Copy/Paste.

    MIMICS has recently added functionality to allow a selection of what message type to post based on the specific situation, with the suggested messages types defaulted in. For example, upon a Deposit Placement, options can be displayed to produce a combination of message types MT103, MT202, MT320, and/or MT321. The system can default the suggested message types to be selected, but the user can override the selections based on the specific situation with the Counter Party.

    The SWIFT Messages will display a pop-up confirmation that will include displaying the expanded message display and the actual message text. The user can then confirm posting or can cancel posting as appropriate.