Handling exceptions and investigations EI remains one of the costliest aspects of the payments process and one that presents substantial barriers to automation. An initiative by SWIFTNet to improve automation of EI through a rules-based processing system has the potential to reduce payments-related costs and improve customer service.
Current systems for handling EI are both expensive and time consuming, said Pascal Deman, board member of SWIFT and CEO of Fin-Force, in a session entitled Exceptions and investigations management a real source of value for the banking system.
Industry estimates put the average cost of handling an exception at between Eur15.5 and Eur20...
