Automated COAC SWIFT Message Generation Module
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Solution Overview
Problem
The manual generation and modification of SWIFT messages for COAC notifications are time-consuming and prone to errors, requiring users to search for correct files, update multiple fields, and manage data from various sources, often resulting in typos and human input errors.
Innovation Solution
A COAC SWIFT generation module that automates the process of generating or modifying COAC SWIFT messages by accessing static data sheets, using linked templates to generate messages in the MT56x family format, allowing users to input data through drop-down menus, and overriding system-generated data, while minimizing human error through error detection and one-click file saving.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual process is used to generate and modify SWIFT messages, then flexibility and control are maintained, but time consumption and error rate increase significantly
Solution Approach 1:
The system performs self-service by automatically generating SWIFT messages using pre-configured templates and linking to static data sheets. The automated process eliminates manual data entry and file management, allowing the system to serve itself without human intervention for routine message generation tasks.
Solution Approach 2:
The system implements preliminary action by pre-configuring templates with all necessary field structures and pre-linking static data sheets containing reference data. This preparation work is done in advance, so when message generation is needed, the system can quickly assemble messages by populating templates with data from linked sources without manual setup.
2Loss of time
If manual file searching and data collection is performed, then data accuracy can be verified, but time consumption increases and human errors occur
Solution Approach 1:
The system implements universality by creating a multi-functional platform that combines template management, static data sheet storage and linking, automated message generation, and file creation capabilities into a single integrated system. This universal platform handles all aspects of SWIFT message creation without requiring separate manual operations for each function.
Solution Approach 2:
The system uses templates as intermediaries between the user's requirements and the final SWIFT message output. Templates serve as the mediating structure that defines message format, links to appropriate data sources, and automates the assembly process, eliminating the need for users to manually search for files and collect data.
3Productivity
If automated generation is implemented, then speed and error reduction are achieved, but system complexity increases
Solution Approach 1:
The system applies segmentation by dividing the SWIFT message generation process into distinct components: templates define message structure, static data sheets store reference data, and the generation engine assembles messages by linking templates to data sources. This segmentation allows each component to be independently managed and configured, reducing overall system complexity despite automation.
Data Source
AI summary
Various methods, apparatuses/systems, and media for automatically generating and/or updating corporate action swift (society for worldwide interbank financial telecommunication) messages are provided. A processor accesses a database that stores a plurality of static data sheets each including different type of static data; accesses a plurality of corporate action swift generator sheets each configured to link to the plurality of static data sheets from the database and generate a certain type of swift in an MT56x family of swift; implements a template that is linked to the plurality of corporate action swift generator sheets to access a desired static data sheet; automatically generates a corporate action MT56x family of swift message based on the template and the desired static data sheet; and automatically creates an MT56x swift file as output for the generated corporate action MT56x family of swift message in either a text file format or an excel file format.