Hybrid: SWIFT & Direct Integration

This model attempts to take the best of both the Direct Integration and SWIFT models by using each where most appropriate. As others have noted, Treasury organizations will require one-to-one bank connectivity for some time. Like the other models, the hybrid model retains the use of human interaction by Treasury with a bank’s web portal and/or online banking application. It also includes point-to-point data connectivity between systems such as a Treasury Workstation (TWS) or TMS and the information reporting or payment initiation solutions of bank partners.

Pros/Cons

As noted above, SWIFT offers standards for both messaging and formats, and where appropriate and available, can enhance and improve Corporate to Bank integration. Yet because of the multiplicity of standards, banks still have some product/channel limitations and therefore a single integration method will not enable Treasury to achieve comprehensive integration with its banks. A typical example is prior-day and intraday reporting only being available to Treasury in BAI2 format, but not as an MT940, or in XML.

Existing direct connectivity protocols, such as FTPS, SFTP, HTTPS, AS2, AS3, EBICS, etc., are likely less technically daunting for Treasury’s IT resources. Finally, given that the overwhelming majority of corporate organizations have multiple banking partners, managing and maintaining the connectivity of this ecosystem needs to be considered. IT resources (in-house or via service provider) are needed to implement, monitor/support, perform necessary maintenance/upgrades, and resolve issues.

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