SWIFT MT X99 Automation for a Global bank headquartered in UK | Tech Mahindra

SWIFT MT X99 Automation for a Global bank headquartered in UK

Business Overview

The client is a bank that was receiving over 20,000 SWIFT X99 messages daily, requiring manual intervention for assessment and action. This resulted in higher operational costs due to the need for operators with specific domain knowledge and training and an increase in team size.

 


 

Approach & Solutions

TechM developed and implemented a solution based on Artificial Intelligence / Machine Learning techniques.

We performed topic modeling based on the analysis of incoming messages.

We performed modeling validation and feedback iterations.

We supervised Model delivered as part of the deliverable.

Impacts & Highlights

Efficient Solution Rollout

The solution went live in 4 months in a rapid manner. 

Success in Auto Routing

We achieved a success high rate of 97% in auto routing of messages.

Operations team size reduced

We saw a 40% overall reduction in operations team size.

Improved Bank Relationships

We significantly improved relationships with correspondent banks for action of messages in lower TAT.