Intra-Routing Application for Corporate (IBRS-C)

This application is designed to allow the administrating bank of an MA-CUG to play the role of intermediary and forwarding bank for its corporate and to automatically convert received messages to be forwarded to the targeted destinations (messages from corporate to another bank or messages from other banks to the corporate and even messages from a corporate to another corporate in the MA-CUG) and to forward to the corporate messages received and belonging to it.

This application runs on the Alliance Access and requires the Application Development Toolkit (ADK).

Connecting the Corporate to their Correspondent Banks
IBRS-C is designed to handle SWIFT messages exchanged between the corporate and the correspondent banks. This application is installed at the Alliance Interface server at the administrator bank and will be configured and customized to handle the traffic from the corporate targeted to account’s servicing banks or received from the account’s servicing banks on behalf of the corporate.

Bank- Corporate Messaging Scenarios
Corporates are today allowed to join SWIFT and use the network to exchange messages and send payment instructions to their correspondent banks in a Closed User Group. The account servicing bank can be the receiver of the message (direct scenario), where the corporate orders it to instruct a payment from its account with it or can be a party further in the payment chain (relay scenario). The message receiving bank forwards the related messages to the account servicing institution. This institution will debit the customer’s account and initiate a credit transfer.

Application Functionality
The IBRS-C is designed to cover:

Corporate to bank relationship

• Capture the messages received on behalf of the corporate

• Determine the BEI of the corporate

• Forward the message to the corporate

 Bank to corporate relationship

• Capture the messages received from the corporate

• Check for the applied scenario (direct or relay)

• In the event of relay scenario, it automatically creates the related message to be forwarded to the correspondent bank/ institution.