Eximbills Enterprise
CS Eximbills V4
Customer Enterprise
Payments
SCF & Factoring
Compliance Solution (Trade and SCF)
Corporate Enterprise
Trade Digitalisation Services (TDS)
Payments
Payments


Our Payments solution is an integrated part of our Java EE-based Eximbills Enterprise platform, which also covers the full range of Import, Export, and Open Account-based Trade Services. SWIFT has consistently awarded China Systems with the Certified Application label for Payments.

As part of the overall Payments solution, you may opt to use the Java EE front-end component, Customer Enterprise, to exchange information with ordering and beneficiary parties in payment transactions.

Key solution capabilities and advantages are:

  • Automatic creation of transactions from incoming SWIFT messages
  • An embedded configurable STP engine that allows analysis and intelligent routing of incoming SWIFT FIN and XML format messages (+ support for EDI)
  • Processing of SWIFT Messages - MT1xx and MT2xx series
  • Auto selection of correct SWIFT messages based on payment requirements
  • Auto selection of Nostro and Vostro accounts based on bank preference
  • Auto selection of sender's and receiver's correspondent bank details based on predefined criteria such as customer, currency, and beneficiary
  • Production of drafts and cheques to customers and banks
  • Management of regular payments and standing orders
  • Fully inclusive commission and charges structure
  • Production of customer advices and statements
  • Movement of funds between internal accounts irrespective of currency
  • Movement of funds between Nostro accounts using SWIFT Messages MT200/210
  • Reconciliation capabilities with Open Account Finance transactions
  • Integration of Accuity Reference data into our Payments data model, in order to maximise STP capabilities (includes SSIs, Payment Channels, Routing BICs, and National Clearing codes)
  • BICPlusIBAN reference data support, allowing e.g. automated identification of BICs based on IBANs, for improved STP in payments
  • Full Reporting capability on all Payments data
  • Seamless integration between the back-office component, Eximbills Enterprise, and the front-end component, Customer Enterprise
  • Functional scalability through the Enterprise Toolkit, as business requirements change

The solution is also SEPA compliant, as it supports

  • Validation of the IBAN check digits
  • Check of country-specific IBAN formats including length check
  • Retrieval of national codes from the IBAN and check if the National ID exists or is valid
  • Performance of a domestic integrity (modulus) check
  • Retrieval of Branch info from the BIC and vice versa


The entire solution runs on an SOA-compliant Java EE platform, which is an accepted industry standard endorsed by many major enterprise computing players such as IBM and Oracle.

As the leading global Trade Services Solutions provider, China Systems has witnessed the growing involvement of banks in the activities between buyers and suppliers. The result is the need to provide a cost-effective end-to-end solution, with highly automated payment processes allowing the reconciliation of payment flows with any outstanding open account and traditional trade transactions.

For more than 35 years, China Systems has built up an expertise in providing flexible solutions for the Trade Services industry. One of our major strategic objectives is to provide an integrated processing platform for Traditional and Open Account-based Trade transactions. To achieve this goal we have invested significantly in

  • The collaborative nature of our SOA-based Enterprise solution, facilitating integration with a bank's existing infrastructure
  • The development of a configurable Payments STP engine, with support for Incoming and Outgoing International and Domestic Transfers

Apart from the reality of the convergence of Payments and Trade, further convergence activity is taking place within the Payments area itself, mainly as a result of SEPA. We notice that there is

  • A convergence of European standards for EUR Credit Transfers, Direct Debits, and Card Payments
  • A convergence of domestic and international payments along with high and low value payments
  • An increasing convergence of retail and wholesale payments and the payments channels

The key enabler in any convergence process is the use of technology. Choosing the correct technology is crucial. We are convinced that our Payments solution can be a key enabler.

SWIFT gpi and Eximbills Enterprise

SWIFT gpi ( Global Payments Innovation) is an initiative by SWIFT designed to implement a significant overhaul of the cross-border customer payment processing by focusing on addressing the challenges experienced by customers and banks over the years.

Some key issues in traditional payment processing are:

  • Slow routing of payments through correspondent banks
  • Higher cost of processing payments
  • Lack of transparency of costs and the time taken

The advent of RTGS (real-time gross settlement) on domestic payments has exposed the need for this overhaul. The dawn of payments disintermediation through the use of peer-to-peer payments, the popularity of cryptocurrencies, and the introduction of stringent regulatory requirements have led SWIFT to devise a foolproof strategy that would create more value for customers when using the MT103 method of payments.

Benefits for Corporates:

  • Efficiency. Faster settlement of funds, including same day receipt of funds for corporates, located in the same time zone.
  • No hidden fees. All fees in the value chain are transparent.
  • Real-time tracking. Payments can be monitored end-to-end, as they happen in real time.
  • Unalterable remittance information. Remittance information is received securely, without any alteration.

Benefits for Banks:

  • Lower costs in SWIFT network management
  • Protection of payments’ volumes and opportunity to increase revenue.
  • Increased ability to comply with regulatory and compliance requirements.
  • Enhanced facility to provide a higher level of corporate satisfaction and value proposition.

China Systems is the world’s leading premier Trade Finance, Payments and Supply Chain Finance solutions provider for banks and corporates and has been a gold member of SWIFT since inception. China Systems’ solutions are consistent annual recipients of SWIFT Compatible or Certified Application labels in Trade, Supply Chain Finance, Payments, and Trade for Corporates.

Based on the SWIFT gpi initiative, China Systems has made enhancements to its products in compliance with the SWIFT gpi requirements, thereby enabling its financial institution customers to obtain certification and transact using the SWIFT gpi framework.

The changes include software updates to the source code for SWIFT gpi messaging and validation, covering the SWIFT template level changes of creating a unique end-to-end transaction reference (UETR) to the header of MT103, MT202 and MT202COV messages. These amendments also include the tags 111 and 121 of the MT103 Block 3. China Systems have built the UETR requirements in full compliance with the SWIFT Standards MT Release 2018.

China Systems applications have the capability for MT199 (push updates) or API (pull updates) connectivity on payments, including the ability to refer the SWIFT referential database (i.e. gpi directory).

China Systems’ Payments solution has once again been awarded the 2023 Compatible Application label for SWIFT gpi, which certifies that it has in place the advanced Stop and Recall processes for Payments initiated using gpi functionality and advanced Case resolution for all parties.

In line with its commitment to continuously develop and provide innovative solutions to our customer banks and corporates, China Systems will carry on with its close partnership with SWIFT to ensure its solutions’ compatibility with future upgrades to the gpi framework.

For further information on China Systems products and gpi support capabilities, please contact your local China Systems office/ representative for more information.

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