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SWIFT MT X99 Automation for a Global bank headquartered in UK
Payments Back Office Efficiency Leveraging AI / ML for Processing MT X99 messages

SWIFT MT X99 Automation for a Global bank headquartered in UK

Client Overview

Our client is UK based Global Banking Major

Business Challenges

  • Bank was receiving upward of 20,000 messages SWIFT X99 per day
  • Manual intervention needed for assessing and acting on these messages
  • Operators with specific domain knowledge and training led to higher operational costs, increasing team size

Solution Highlights

  • TechM developed and implemented a solution based on Artificial Intelligence / Machine Learning techniques
  • Performed topic modelling based on the analysis of incoming messages
  • Modelling validation and Feedback iterations performed
  • Supervised Model delivered as part of the deliverable

Business Benefits

  • Solution went live in 4 months
  • 97% achieved in auto routing of messages
  • 40% overall reduction in Operations team size
  • Increased better relationship with Correspondent banks for action of messages in lower TAT

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