Remote Analysis Services

How it works

Mirware only manages non-sensitive data (no details about names and accounts of clients)
Banks are provided with BicDetective, a Desktop App which allows bank’s users to process data internally, at the bank's premises, without the exchange of information with external third parties.
To protect privacy, all data are stored and processed only for internal use.
The tool allows to import (with or without filter parameters) and to convert message flows directly on the workstation, starting from a copy of the messages in format SWIFT FIN ISO 15022 or XML ISO 20022
The App does not need any installation procedure nor the intervention of the IT dept. It needs a simple activation process that requires about 20 minutes, which can be run by phone or by email. Moreover, it is a stand-alone platform, completely independent from the bank's systems, and, once activated, the tool is simply fed directly by the user using a copy of the messages.
The App generates record-typed text files (i.e. a head record, one or more detail record types, and a queue record) containing aggregated and non-sensitive data (no details about the concerned clients).
The output file is transferred to Mirware for the analysis processing and front-end visualization by Microsoft tools (Power Bi, Excel, Access, etc..), either on-site or remotely via the web.

Standard reporting services available:

Mirware provides reporting services already structured according to both its know-how and the needs that have emerged in recent years by bank users.

Everything that has been experienced in the past has been transformed into reporting tools that aim to inform senior management adequately and thus support the decision-making process.

The following are the reports already available nowadays to the client banks in PowerBI or Excel:

1 / Correspondent Banking Analysis

It is based on the full suite of messages (FIN or XML) and it aims to provide a full quantitative/statistical evidence of all transactions exchanged by the bank worldwide. The following details are available: - Analysis of traffic exchanged with a specific counterpart bank (Sender or Receiver) - Traffic Analysis per Orderer/Beneficiary Banks (then Message Group, Message Type, Counterpart Banks, and Currency) - Traffic Analysis per Country (then Orderer/Beneficiary Banks, Message Group, Message Type, and Currency) - Traffic Analysis per Currency (then Country, Orderer/Beneficiary Banks, and Message Type) - Traffic Analysis per Message Group (then Message Type, Currency, Country, and Orderer/Beneficiary Banks) - Traffic Analysis per Charges Settlement Instruction (then Message Type, Counterpart Banks, Orderer/Beneficiary Country/Banks and Currency) - Direct vs Intermediated payments received from/sent to Counterpart Banks, with a focus on sender's charges disturbing beneficiary customers. For further details please contact  transactionbankinglab@mirware.com

2 / Clearers Analysis

The Clearers Analysis allows users to statistically observe which correspondent banks are commonly used in the different currencies and relevant countries. Transaction flows distribution behavior is the result of several concomitant factors, including channeling policies for cross-border payments adopted by ordering banks, as well as their level of compliance with the SSIs - Standard Settlement Instructions - provided by the various beneficiary banks (either national or foreign). Received messages provide an indication of the clearers mainly used by foreign banks. Sent messages provide an indication of the clearers mainly used by the client bank. The following details are available: - Currency > Country of origin/destination > Orderer’s/Beneficiary’s Bank > Clearer Bank - Currency > Clearer > Country of origin/destination > Orderer’s/Beneficiary’s Bank For further details please contact  transactionbankinglab@mirware.com

3 / Payment Analysis

Payment Analysis is a report based on SWIFT FIN MT 103. The analysis aims to provide a qualitative and quantitative/statistical evidence of international payments, treating a specific set of information contained in the messages with a high level of granularity, up to the single branch. The following details are available: - Traffic type: Direct Flows, Intermediated Flows, Correspondent Banking flows - Geographic Areas & Countries - Import / Export by Country - Branch network distribution (where available the branch code in the BIC or the account number): Import / Export, foreign countries, currencies - Currency Analysis by Country For further details please contact  transactionbankinglab@mirware.com

4 / Documentary Credits Analysis

Documentary Credit Analysis is based on two types of SWIFT FIN messages related to International business: - MT 700 - MT 710 The analysis aims to provide qualitative and quantitative/statistical evidence of documentary credits, treating all the information contained in the individual messages with a high level of granularity, up to the single branch. The following details are available: - Documentary Credits divided by Zones & Countries - Documentary Credits divided by Confirmation Instruction (field 49) & Risk Index (computed as following --> [Eur Amount*(ValidityDays+DeferredPaymentDays)]/36000*Country risk rate - Documentary Credits divided by Availability - Documentary Credits divided by Deferred Payment Instructions - Documentary Credits divided by Tolerance Instructions - Documentary Credits divided by Importers - Documentary Credits divided by Exporters For further details, please contact  transactionbankinglab@mirware.com

5 / International Guarantees Analysis

The International Guarantees Analysis is based on the MT760 of SWIFT FIN messages. The analysis aims to provide qualitative and quantitative/statistical evidence of the international guarantees, treating all the information contained in the individual messages with a high level of granularity, up to the single branch. The following details are available: - Form & Purpose - Zone & Countries (then Foreign Banks) - Currencies (then Country and Foreign Banks) - Maturity Class (then Country, Bank, and number of days) - Governing Law & Place of Jurisdiction - Applicable Rules - Branch network distribution - Clients (then Zone and Country) For further details please contact  transactionbankinglab@mirware.com

6 / SWIFT® Broadcast Analysis

The SWIFT broadcast Analysis is based on the MT094 of SWIFT FIN messages. The analysis aims to provide a repository of all SWIFT Broadcast messages, treating all the information contained in the individual messages with a high level of granularity, up to the single concerned bank. Broadcasts are searchable by: - Priority - Broadcast Number - Free text keywords - Full date of the message (i.e. YYMMDD) - Requester Bic - Requester Name - Code Description - Sub Code Description For further details please contact  transactionbankinglab@mirware.com

7 / Forex & MM Analysis

The Forex&MM analysis is based on two types of SWIFT FIN messages related to International business: - MT 300 - MT 320 The analysis aims to provide qualitative and quantitative/statistical evidence of the forex & Money market transactions managed by the dealing room, treating all the information contained in order to provide a feedback report of the activity conducted to the senior management. The following details are available: - Currencies - Countries & Banks - Dealers - Dealing method - Operation type - Exchange rates analysis - Party role - Event type - Validity class For further details please contact  transactionbankinglab@mirware.com

8 / Compliance - AML Analysis

The Risky Countries Analysis is a report based on SWIFT FIN MT 103. The analysis aims to provide qualitative and quantitative/statistical evidence of all flows exchanged by the bank with counterparts located in countries considered more or less risky by internal and external legislation. The analysis treats specific lists of countries, according to the internal rules of the bank. It takes into consideration all messages exchanged and allows to access the information contained with a high level of granularity, up to the single branch. The following details are available: - High Risk Countries - Sanctioned/Embargoed Countries - Drug trafficking - Tax Heavens For further details please contact  transactionbankinglab@mirware.com

On demand Reports

These are customized analyzes, carried out on behalf of the client bank and made available to the end-user on shared front-end tools (eg Power BI).

Thanks to the flexibility and effectiveness of our tools we are able to support the bank user to access the message traffic, import only the messages of his interest (among all the XML or FIN messages and related fields available), and then analyze the information he is interested in.

For further details please contact  transactionbankinglab@mirware.com

Benchmark Reporting Services

In an article that appeared a few years ago in a specialized press, two Boston Consulting Group partners, Deepak Goyal and Sumitra Karhikeyan, pointed out that  banks in the world rarely investigate and quantify their “share of wallet” while relying on simple estimates or reasonable assumptions, underestimating the composition of their customer portfolio and overestimating their market shares with a margin of error of 30 to 50%.

The spirit of our benchmark service is to improve knowledge and clarity on transaction banking flows exchanged worldwide, using a rigorous approach to address these strategic issues. The research has the main goal of maintaining a high level of knowledge on value-added information contained in foreign messaging and using it in a business strategy improvement perspective.

Benchmark Analysis is the research that can be carried out among banks belonging to the same national banking system or applied to a panel of banks operating in different countries, but similar in terms of activity cluster. The analysis is designed to provide a comparison of performance, usually in the global transaction banking flows (especially extra SEPA), according to KPIs previously defined and applied to all members of the panel.

The scope is to measure banks’ core business (business related to their customers) and their performance within a panel of statistically significant national or international competitors.

The benchmark services already available (already experienced with some of the major Italian banks) are:

Benchmark Payments, by which information is provided on the markets of origin/destination of payments, currencies used and the distribution of flows over the national branch network (area, region, province, city)
Benchmark Trade Finance, focusing on letters of credit and guarantees flows. The traffic is analyzed and compared on the basis of shared KPIs, which allow both a statistical/quantitative analysis of the panel and a qualitative one on the single participant bank in regards of the whole panel (markets, currencies and amounts, confirmation instructions, tolerances etc.).
Benchmark FX & MM, focused on MT 300 and MT 320 flows. This research is interesting for the foreign exchange dealing room.

For further details please contact transactionbankinglab@mirware.com