Case Study 1

Union Bank of India’s switch from SWIFT Alliance Access to TurboSWIFT

Overview

Union Bank of India was using SWIFT Alliance Access until they discovered TurboSWIFT as a more sophisticated, scalable, robust and cost effective SWIFT Interface Solution available in the Indian market.

Globsyn helped Union Bank of India switch to TurboSWIFT in early 2007. Today at Union Bank of India, TurboSWIFT ensures that its mission-critical SWIFT traffic moves smoothly, quickly and reliably across the entire SWIFT network.

Product

TurboSWIFT, a SWIFT Approved Interface from BankServ, US (A SWIFT Approved Vendor) is currently being used by over four hundred financial institutions globally. TurboSWIFT is a cost effective choice for the Banks as it supports concurrent licensing and only bills outbound messages. The product is web enabled and has a robust backup-recovery system essential for any financial institution, irrespective of the size. TurboSWIFT is well equipped to meet any bank’s present and future SWIFT messaging needs.

The Client

UNION BANK OF INDIA: A leading public sector Bank in INDIA.

Globsyn’s solution involves

TurboSWIFT Interface represents the latest in technology evolution in the foreign payments processing applications combining cost effectiveness with excellent support services provided by Globsyn.

Earlier Union Bank of India was using SWIFT Alliance Access and in 2007 they switched to TurboSWIFT as they found web enabled TurboSWIFT to be more sophisticated, scalable, robust and cost effective SWIFT Interface Solution available in the Indian market.

Today at the Union Bank of India TurboSWIFT ensures that its mission-critical SWIFT traffic moves smoothly, quickly and reliably across the entire SWIFT network.

TurboSWIFT supports concurrent user licensing and only bills outbound messages. Today, the number of messages transmitted via SWIFT at Union Bank of India has shown enormous increase with an average transit time of less than 20 seconds.

TurboSWIFT offers a web enabled user interface with quick and robust backup-recovery system essential for any financial institution, irrespective of its size.

TurboSWIFT supports multi-platform operability, database independence, custom routing profiles etc among the host of features as its differentiators.

Why Globsyn?

Union Bank of India has joined Globsyn’s growing list of clients for BankServ’s TurboSWIFT – a SWIFT Accredited Interface for processing foreign exchange payments. The number of branches live using SWIFT are almost 100.

Globsyn is responsible for maintaining and providing production support for the entire TurboSWIFT suite of products. The support provided is through telephone or site visit. The CBS and Treasury System running live at the Bank are 2-way integrated and are supported by Globsyn.

Tools & technology used

The entire system is running on Windows 2003 Server OS with database as Oracle 9i.

The client module of TurboSWIFT is web enabled.



Case Study 2

SWIFT implementation at Hong Kong Branch using the single CBT in Mumbai for Union Bank of India

Overview

Union Bank of India, with over 75 branches connected to SWIFT wanted to extend its operations to their Hong Kong branch. Having setup TurboSWIFT as the SWIFT CBT for their existing payment needs, its capability to support 16 Logical Terminals created an easy and cost-effective means to embed the Hong Kong ranch’s payment requirements within the existing SWIFT setup in Mumbai. Thus, Union Bank of India could connect their Hong Kong Branch to SWIFT using their existing SWIFT connection without any extra-expenditure to procure and implement a distinct SWIFT connection for the Hong Kong Branch.

Product

TurboSWIFT Suite, A SWIFT Approved Interface from BankServ, US (A SWIFT Approved Vendor).TurboSWIFT is currently being used by over four hundred financial institutions globally. TurboSWIFT is a cost effective choice for the Bank as it supports concurrent licensing and only bills outbound messages. The product is web enabled and has a robust backup-recovery system essential for any financial institution, irrespective of the size.

While BankServ’s TurboSWIFT system gives a bank automated access to the international SWIFT network, TurboBranch is the tool that brings the same access to bank’s remote branches and offices, using a single TurboSWIFT connection as a hub.

TurboBranch is essentially a TurboSWIFT server without a SWIFT connection, instead linking to bank’s main TurboSWIFT server through a TCP/IP or dialed modem connection. Thus remote branches can connect on-site without the extra expense of setting up and maintaining separate SWIFT connections for each branch.

Thus TurboSWIFT Suite is well equipped to meet any bank’s present and future SWIFT messaging needs.

Client

UNION BANK OF INDIA, A leading public sector Bank in INDIA.

Globsyn’s solution involves

It is vital to mention, that earlier Union Bank of India was using SWIFT Alliance Access until they discovered TurboSWIFT as a more sophisticated, scalable, robust and cost effective SWIFT Interface Solution available in the Indian market.

Thus Union Bank of India switched to TurboSWIFT in early 2007. Today at Union Bank of India, TurboSWIFT ensures that its mission-critical SWIFT traffic moves smoothly, quickly and reliably across the entire SWIFT network.

Union Bank of India placed the following orders with Globsyn:

1. Extension of TurboSWIFT License for connecting Hong Kong Branch to SWIFT.
2. TurboBranch License for maintaining a dedicated database for additional destination; UBINHKHH in this case.

Globsyn support carried out the following Registrations and E-orderings on behalf of Union Bank of India:

1. SWIFT undertaking - Joining User – For Hong Kong BIC, UBINHKHH
2. Register Shared SWIFTNet Security Officers – To replace the two existing Security Officers associated with UBININBB as Shared Security Officers to support multiple destinations.
3. SWIFTNet FIN Service Subscription – For activating FIN Service to UBINHKHH
4. Direct Debit Form – For Billing
5. Operational readiness for SWIFTNet FIN – Confirmation on completion of installation of interface for connecting UBINHKHH over the FIN service.

Implementation of Hong Kong Branch within the existing setup involved:

1. Granting delegator, RBAC and LRA rights for both Shared Security Officers.
2. Configuring extended TurboSWIFT License to support additional destination, UBINHKHH.
3. Configuring business routing rules for UBINHKHH within TurboSWIFT.
4. Installing TurboBranch License for UBINHKHH
5. Configuring business routing rules and users within TurboBranch.

The Result: The payment needs of Union Bank of India’s Hong Kong branch are met using a dedicated TurboBranch that connects to the centralized TurboSWIFT hub. Thus using the existing SWIFT connection Union Bank of India extends its SWIFT operations to Hong Kong.

Why Globsyn’s offering?

Globsyn’s approach to support and services combines installation, strong operational maintenance and resilience – all underpinned by an experienced incident management team. The support provided is through telephone, email and site visits.

TurboSWIFT, the payment solutions offering from Globsyn, represents the latest in technology evolution in the foreign payments processing applications combining cost effectiveness.

TurboSWIFT supports concurrent user licensing and only bills outbound messages. TurboSWIFT offers a web enabled user interface with quick and robust backup-recovery system essential for any financial institution, irrespective of size. TurboSWIFT supports multi-platform operability, database independence, custom routing profiles etc among the host of features as its differentiators.

Globsyn is responsible for maintaining and providing production support for the entire TurboSWIFT suite of products in Union Bank of India spread all over its SWIFT connected branches with the SWIFT CBT in Mumbai. The CBS and Treasury System running live at the Bank are 2-way integrated with TurboSWIFT and are supported by Globsyn.

Further, TurboSWIFT’s ability to support 16 Logical Terminals and TurboBranch’s independent robustness to connect remote branches to TurboSWIFT enabled Union Bank of India to implement an additional BIC8, UBINHKHH for their Hong Kong Branch.

Thus the existing SWIFT connection in Mumbai can be used to implement 16 such remote branches without any extra expense for a separate SWIFT connection each time.

Tools & technology used

The Centralized CBT hosting TurboSWIFT runs on Windows 2003 Server OS with Oracle 9i database.

Hong Kong’s operations are funneled through TurboBranch installed in a dedicated host running Windows XP Professional with SP2 on Sybase SQL Anywhere.

The client modules for TurboSWIFT and TurboBranch include; GUI based TurboConnect and browser based TurboWeb.

Case Study 3

BKE migration to RMA in SWIFTNet Phase 2

Overview

SWIFTNet Phase 2 window opened for INDIAN customers during mid 2007 and was mandatory by S.W.I.F.T. In the SWIFTNet Phase 2, every Bank connected to the SWIFT Network would establish a single security model using industry standard Public Key Infrastructure (PKI) technology to access all SWIFTNet services.

This 2nd phase introduced the new Relationship Management Application (RMA) to enable users to more tightly manage their business relationships. BKE was replaced by RMA in SWIFTNet Phase2.

GLOBSYN successfully completed the SWIFTNet Phase2 Migration project at all of its ten TurboSWIFT customers that began at the start of year 2006. We helped them achieve various milestones during the SWIFTNet Phase2 Migration project.

Product

TurboRMA, a new addition to BankServ’s Turbo system, enables compatibility with SWIFT Network’s Relationship Management Application (RMA) standard. The new software, TurboRMA has been developed by our business associates, BankServ, USA, to meet the requirements of the SWIFTNet Phase 2 changes that occurred in early 2007. TurboRMA can be installed directly onto the TurboSWIFT Application Server, or can be deployed separately and connected to TurboSWIFT and TurboGateway via IP socket connections. There were two major new releases of TurboSWIFT and TurboGateway to cater for SWIFTNet Phase 2 and SNL version 6.

The PKI infrastructure was strengthened with new Hardware Security Modules (HSM’s). FIN-specific Secure Card Reader technology and Bilateral Key Exchange mechanism were both retired. PKI replaced BKE/MAC for message authentication and SLS for FIN session control.

TurboRMA features:

  • This is a Licensed Turbo Product that can run on any currently supported Turbo platform
  • Safe-storage and management of RMA relationship records
  • Implementation of RMA message exchange protocol
  • Implementation of RMA bootstraps process
  • Real-time IP socket connection to TurboSWIFT
  • Support for standard RMA file distribution format
  • Server architecture caters for future rollout of RMA by SWIFT to cover non-FIN services
  • GUI Front End to carry on RMA functionalities

The Client

All ten of our customer Banks for TurboSWIFT.

Globsyn’s solution involves

GLOBSYN successfully completed the SWIFTNet Phase2 Migration project at all their customers that began at the start of year 2006. A brief summary of the various milestones achieved during the SWIFTNet Phase2 Migration project is as below:

T1 milestone (2nd January 2007): Preparation

  • Order all Phase 2 components from SWIFT

C1 milestone (30th June 2007): Upgrade of the infrastructure

  • Upgrade to SWIFTNet release 6
  • Upgrade to TurboSwift release 8
  • TurboRMA installation
  • Installation of the HSM (Hardware Security Module).
  • Login-Select via HSM (Replacement of SLS by PKI)
  • Enable RMA Bootstrap Recording

C2 milestone (30th April 2008): Demonstration of readiness for Live RMA

  • Training the staff for RMA
  • Completing the mandatory test scenarios
  • Confirming the readiness to SWIFT
  • Finally, sending a live RMA message to you.

T2 milestone (27th September 2008): Start of the Live RMA operations

  • Monthly demonstration of Live RMA
  • Disabling BKE
  • Removal of SCR and ICCs
  • Live RMA for new relationships

C3 milestone (30th December 2008): Cut-over to RMA

  • Bootstrap Process - Conversion of BKE to RMA
  • Stop RMA Bootstrap recording
  • RMA Cut-over

Why Globsyn?

After the completion of the migration project, SWIFTNet Phase 2 offers the following benefits to our customers: RMA Benefits:

  • Avoiding unwanted traffic: with RMA, unwanted traffic is stopped at the sender. This means that you, as receiver, are shielded from unwanted traffic and its potential negative consequences, such as investigations, auditing, regulatory reporting and reputational risk.
  • Simpler than BKE: the RMA protocol is much simpler than BKE mechanism. With RMA, there is no need to renew authorisations every 6-12 months, as was the case in BKE, leading to reduced staffing to manage RMA.
  • Providing relationship management capabilities on SWIFTNet: RMA is a generic SWIFTNet feature designed to give you the necessary controls over your SWIFT counterparts. RMA will be used on SWIFTNet FIN as well as on other SWIFTNet services that require similar level of control over correspondent traffic.

SWIFTNet PKI Benefits:

  • Upgrading security for SWIFTNet FIN: Earlier SWIFTNet FIN security mechanisms relied on SCRs/BCRs and ICCs. Although these card readers and smart cards are still secure, they are reaching the end of their life-time and will thus have been upgraded to PKI.
  • Strengthening PKI: SWIFT has strengthened PKI security with the introduction of tamper-resistant devices, known as Hardware Security Modules (HSM), to guarantee the safe storage of PKI secrets.
  • Single security mechanism for all SWIFTNet Services: SWIFTNet PKI replaces the security mechanisms for FIN and therefore advances the single window for all SWIFTNet services and reduces the operational cost of maintaining two distinct security models.
  • Simpler Key Management: with SWIFTNet PKI, you only manage your own keys and no keys need to be exchanged with each of your correspondents (as in BKE), therefore reducing both effort required and the risk of errors.

Tools & technology used

The entire system is running on Windows 2003 Server OS with database as Oracle 9i.

TurboSWIFT and TurboGateway were used via IP socket connections to cater for SWIFTNet Phase 2 and SNL version 6.