Akshay Press Release – 20 June 2012
Akshay Automates BIC Directory Updates
Launches Web Services Based Solutions
(Princeton, NJ – 20 June 2012) – Akshay Software International, Inc., a
SWIFTReady Services Provider, SWIFT Service Bureau, and SWIFT Value Added
Reseller, announced today that it has automated the BIC directory updates for
SWIFT's Alliance Access and Entry using Web Services. This has already been
implemented and is live in Akshay's Service Bureau.
SWIFT's BIC directory gets updated every month. Normally it is a manual process
to download these directories from swift.com and then update them into the
Alliance Access and Entry.
Akshay has developed the capability to automate the download of the BIC
directory download using SWIFT's Web Services functionality. This downloaded
file will then be automatically updated into the SWIFT Alliance Access or Entry
by scheduling a process in the Access / Entry.
Web Services was first introduced by SWIFT with Alliance Access 6.3 to provide
access to RMA and the capabilities were greatly enhanced with Version 7.0 which
provides advanced reporting capabilities for both messages and events allowing
both summary and detailed reports to be extracted on an automated basis.
Examples of automated reports that can be produced are:
1. Daily or monthly summaries of messages (with options for selection by message
types e.g. daily summary of payments).
2. Report on Current RMA authorizations held with the facility to expand the BIC
code with correspondent details.
3. Email alerts and reports for any incoming RMA messages such as Authorizations
4. Summary Event Journal daily report automatically emailed to head office or
5. Email alerts and reports for any "severe" type events.
In addition, Web Services can help automate a number of additional tasks such as
health checks of database, software & system and the completion of all live
messages. The latter removes the necessity to manually complete messages
(required if the automated archive process is not to fail).
Thus Web Services provides powerful and versatile functionality that can lead to
the automation of many manual tasks
“We've been working with Web Services ever since it was first introduced with
Alliance Access 6.3 in and so are ideally placed to assist customers who want to
use these new features", said Anant C.V., President of Akshay. "We are excited
by the greatly enhanced capabilities that SWIFT has introduced for Web Services
in version 7.0. Just two months ago, we announced the implementation of the
automated systems for error correction and detection which was a new feature
introduced with 7.0 and are happy that we are continuing our drive to offer our
customers the very best that SWIFT has to offer".
For more information contact:
Mr. B.V. Venkat
Akshay Software International, Inc.
+1 609 945 2963