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TRAX - Real-Time Cash Management

Trax Real Time Cash Reporting enables corporate users and financial institutions to provide and retrieve real time information flows on account balances and ongoing transactions.

Integrated Reconciliation System

Real-Time Cash Management

TRAX Real Time Cash Reporting systems allow financial institutions to have an instant view on ‘nostro’ positions and pending transactions throughout the day by way of a single window interface. Monitor positions and transactions based on type, currency or any other criterion. Schedule Automatic updates and initiate exception handling of limits or transactions.

Trax Real Time Cash Reporting enables the bank to provide and retrieve real time information flows on account balances and ongoing transactions. Both users and providers can now benefit from the new SWIFTNet Solution Standard which supports the exchange of this information. Trax can be used as a “User” of Real Time Account Information or as a “provider”

Trax has been equipped to send out “requests” for information, thus acting as a “‘service user”, querying a remote party (bank) for up-to-date information. Based on an internal set of accounts, BIC codes and user definable criteria, Trax will send requests to the relevant institutions via InterAct, and update its internal databases with the information returned. That data either can be displayed in Trax’s graphical user interface, set up as a single window monitor screen, or become available in the database to be queried by legacy systems.

Based on the SWIFT standardized “request” messages, Trax can gather information from any legacy back-end system to provide the requester with up-to-date information on accounts and transactions. Trax seamlessly integrates by using message queues, files, databases or any other means, thus proving very adaptive to the existing IT environment.

Trax will handle matching between users, requests and responses and communication over SWIFTNet through the use of InterAct. It will update – if required – its internal databases, and send only delta information whenever required.

Key Features:

§       Comprehensive support of the SWIFT Real Time Account Information Standard including “push” and “pull”.

§       Seamless integration with existing business systems while respecting the technology interfaces already in place.

§       Scheduled queries and responses based on events (such as newly entered transactions), limits (for account balances) or a time schedule (e.g. every hour).

§        Reduced time-to-market when developing new cash management services.

§       A highly scalable and robust system based on industry standards and integrates easily with existing systems.

§       A single window view on cash positions and pending transactions. A user configurable screen will show all relevant accounts with a drilldown function into all relevant transactions, executed or pending, and their details.