The SWIFT Statistics module which monitors the whole SWIFT traffic of the bank

In business, for financial institutions SWIFT messages (payments, payment initiations, bulk payments, etc.) that are transmitted via SWIFTNet network are of high importance. All branches of business such as Treasury, Securities or other trades have a strong link to SWIFT in a form of messages, thus those messages contain such important pieces of information that must be continuously monitored, analysed and evaluated, thus considered in the course of making decisions in business life. Just to mention some examples that might be needed to be known:

How many customer payments were sent within bank group during a given period of time? (displayed per month)
What about the traffic with a specific bank? (In a given year, grouped quarterly)
What was the volume of messages (traffic) with a given bank customer within a specific period of time?
How many STP type messages were sent to a selected bank in a given month?

Our company has developed the SWIFT Statistics module to fulfil this requirement.
The principle of the solution is that we load all the Swift messages of a bank in a dedicated relational database and use all the available fields and data to create business and traffic statistics as well as special reports for a period of time, or retroactively. In all cases, it is possible to select filtering criteria such as branch of business, message type, partner bank, etc., and group or sort the result of the inquiry. The statistics made with DevStat can be updated with the most recent data or exported into EXCEL table sheet for post-processing.

For the business statistics the program uses a so-called historical exchange rate table, which helps to make the result of the statistics more punctual and precise.
The database of SWIFT Statistics module is automatically populated.
The program also ensures a record level view of messages that constitute the basis of the statistics.

The SWIFT Statistics module is valuable for all bank inasmuch as it can be effectively used in all business areas where built upon the past business data an efficient tool is needed for future planning. It can be helpful for resource management, a planning tool for new banking products or services as well as for surveying existing procedures.

Business statistics

The business statistics are statistics created from the most important message types of the branches of business (MT100, MT102, MT103, MT110, MT190, MT191, MT200, MT202, MT203, MT210, MT300, MT320, MT400, MT700). When defining the statistics, filtering criteria (e.g. only customer transfers in the given currency to a selected bank) can be defined. To achieve a clear-cut result, all amounts could be calculated and shown in a specified currency. The exchange rates used for the calculation could be derived from the stored/archived daily ones, or the user can eventually enter them (for example, let's work with the MNB middle exchange rates that were valid on the day, half time of the given period). The module also handles the old currencies that were abolished at the Euro introduction.

The filter criteria that could be used for business statistics:

  • Message type and direction (MTxxx, outgoing / incoming)
  • Branches of business (customer payment, treasury, etc.)
  • Date (value date) and reference
  • Partner bank, correspondent bank, intermediary bank (account institution with)
  • Currency, amount
  • Bank customer and account
  • Cost, charges bearer (BEN,OUR,SHA)
  • Other type: STP type or RTGS type
  • Message type (FIN, SEPA)
  • Using IBAN account number in messages
  • Cost analysis of customer payments

Sorting, grouping for business statistics:

  • Message type and direction (MTxxx, outgoing / incoming)
  • Date (value date)
  • Branches of business
  • Partner bank (name / country code), correspondent bank (account institution with)
  • Currency
  • Own party name, own bank
  • Charges bearer
  • Other type: RTGS - type 
  • Using IBAN account number in messages

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Picture 1: An example on a business statistics

Traffic statistics

The traffic statistics are based on all Swift messages that were loaded into the system. It uses a separate database.

In case of the traffic statistics, the following filtering criteria can be used:

  • Bank (sender, receiver - also using mask)
  • Message date (year, month, day)
  • Message type
  • Reference
  • Format (FIN, SEPA)
  • Content of message

Picture 2: An example on a traffic statistics

Searching for messages

The €žSearching for messages" function of DevStat program provides easy and simple access to messages.
The function can be reached via 3 menu entries:

  • Searching for Broadcast messages
  • Searching for messages
  • Searching for MT100-MT110 messages

The result of searching is shown in an overview list, where you may have a look at the original SWIFT message in details too.

Special reports

The Swift statistics makes it possible to support and create special reports that are built up according to the banks' specific requirements.
With this function, we can create a report on a given nostro account, displaying debit/credit amounts using tiering and cost analysis for a specific period of time.