The evolution of exceptions and investigations messaging and flows

Chloe Jenkins
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Chloe Jenkins: Chair, UK Banking and Payments Committee, UK

Journal of Digital Banking, 2024, vol. 9, issue 2, 138-149

Abstract: This paper aims to provide the reader with information concerning the migration of exceptions and investigations (E&I) messages from the FIN MT format to the ISO 20022 format. In addition to this format migration, there are improvements that Swift will implement as part of their Case Manager product, such as smart routing of E&I messaging, automated confirmation of receipt messages and automated reminder generation. These enhancements will bring many benefits for financial institutions, such as cost reductions, due to a decrease in the number of cases being raised (ie no need to raise a case when playing the role of an intermediary for some investigation types), increased automation due to the new, structured elements of the ISO messaging format and clear investigation types, speed of resolution due to the smart routing logic and reduction of messaging legs required and fewer processes for operators as generation of the confirmation of receipt and the reminder/chaser messages are initiated by the Case Manager rather than requiring an operator to initiate these. This paper provides an overview of the ‘As is’ and ‘To be’ message formats and flows to enable the reader to fully understand the benefits that this migration will bring and the changes that will be mandated within the industry in the E&I space.

Keywords: exceptions; investigations; camt.110; camt.111; E&I; ISO 20022 (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2024
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