The SWIFT dashboard provides information on the number of archived messages, the number of unprocessed messages and the number of SWIFT files processed by the software on the server. Also, SWIFT messages can be translated here on this page.
Note: Only person(s) assigned right to ‘view SWIFT DOM transactions’ will be able to carry out this operation(s)
To access the Compliance Planet’s SWIFT dashboard;
- From the main dashboard, click ‘UTILITY’ as in fig. 30.3a below
(fig. 30.3a)
- This displays the ‘Utility’ home page. See fig.30.3b for an example of the home page.
(fig. 30.3b)
- Click on ‘Swift Dashboard’ on the left hand side menu as in fig. 30.3c.
(fig. 30.3c)
- This displays the SWIFT dashboard as seen in fig. 30.3d.
(fig. 30.3d)
- The SWIFT dashboard provides information on the number of archived messages. This figure can be refreshed by clicking on the ‘Refresh’ button as in fig. 30.3e below.
(Fig. 30.3e)
- The SWIFT dashboard also provides information on the number of extracted unprocessed messages. This figure can also be refreshed by clicking on its ‘Refresh’ button as in fig. 30.3e.
(Fig. 30.3f)
- The SWIFT dashboard also gives information on the number of SWIFT files processed by the software on the server. This figure can also be refreshed by clicking on its ‘Enumerate’ button as in fig. 30.3g below.
(fig. 30.3g)
- Also, the SWIFT dashboard has a SWIFT message reader that translates SWIFT messages to information that is meaningful to users.
How to Translate SWIFT messages
SWIFT Message types come in a format that cannot be interpreted by layman, hence the need for a SWIFT message reader (SWIFT message translator). The SWIFT console has a message reader. The Compliance Planet SWIFT message reader processes MT102 and MT103 only. These message types are category 1 messages -Customer Payments and Cheques. Here is how to translate a SWIFT message.
STEP 1: Click on ‘SWIFT Message Reader’ as in fig. 30.4a below.
(fig. 30.4a)
- This displays a textbox as in fig. 24.4b.
(fig. 30.4b)
STEP 2: Paste the MT102 or MT103 message to be translated on the left side of the console. See an example in fig. 30.4c.
(fig. 30.4c)
STEP 3: Click on ‘Read SWIFT Message’ as in fig. 30.4d to translate the message.
(fig. 30.4d)
- This displays a confirmation console to confirm the processing of the message. Click on ‘Confirm’ to proceed or ‘Cancel’ terminate the operation.
(fig. 30.4e)
- By clicking on ‘Confirm’, the compliance planet software SWIFT reader will read the message, and place a transaction folder at the right side of the console and a notification will be displayed at the top of the page. The number of transaction folders represents each transaction reported in the SWIFT message translated. See fig. 30.4f below for an example.
(fig. 30.4f)
STEP 4: Click on the transaction folder(s) as in fig. 30.4g to view the message(s).
(fig. 30.4g)
- The translated version of the SWIFT message will appear as shown in fig. 30.4h
(fig. 30.4h)
- Transactions reported in SWIFT messages fall under the Foreign Exchange Transaction type (FXFT). From the message reader, SWIFT transactions read can be posted to the transaction pool for Report processing. Transactions posted will form part of reports generated by the Compliance Planet. If they are re-posted, the transaction details will be duplicated in the report generated.
- To post the transaction(s) for report processing;
- click on ‘Post Transaction for Report Processing’ as in fig. 30.4i below.
(fig. 30.4i)
- This displays a confirmation console as in fig. 30.4j. Click on ‘Confirm’ to proceed.
(fig. 30.4j)
- A ‘Success Message’ will be displayed on the page as seen in fig. 30.4k below.
(fig. 30.4k)
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