Most FX deals are confirmed efficiently via SWIFT. However a significant number, perhaps from voice trades to non-SWIFT counterparties, need manual intervention because they have been produced in fax or email formats.

To move forward, you need a solution that copes with present formats, converts them to computer readable workflow and facilitates a transition to more efficient methodology for both the bank and its clients.

The e-Confirmation Service supports outward transmission in all formats and receives back confirmations in all formats too. Received confirmations (faxes or emails) are converted to electronic messages, can be matched against what was sent out and the status updated in back office systems.

Moving forwards, more efficient web portal or custom electronic messaging can be introduced, saving costs and providing a quantum leap in client service and communications.

If you simply want to convert fax and email confirmations to validated electronic messages to feed your own workflow solutions, then we can offer an alternative service – the FAX 2 MT service.

The FAX 2 MT service takes the faxes and emails into our secure, regulated data centre in Luxembourg, extracts and validates the key information and sends it to your back office as either a standard SWIFT MT/MX series message or any format that your systems require.

These services can be introduced cost effectively for even low confirmation volumes as the service is pay per use and set up costs are minimal.

For more details please download the E-Confirmations Fact Sheet and the FAX 2 MT Fact Sheet.