We are very excited to announce the Public Preview of SWIFT MT encoder and decoder for Azure Logic Apps. This release will enable customers to process SWIFT based payment transactions with Logic Apps Standard and build cloud native applications with full security, isolation and VNET integration.
SWIFT is the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global member-owned cooperative that provides a secure network that enables financial institutions worldwide to send and receive financial transactions in a safe, standardized, and reliable environment. The SWIFT group develops several message standards to support business transactions in the financial market. One of the longest established and widely used formats supported by the financial community is SWIFT MT and it is used by SWIFT proprietary FIN messaging service.
SWIFT network is used globally by more than 11,000 financial institutions in 200 regions/countries. These institutions pay SWIFT annual fees as well as based on the processing of financial transactions. Failures in the processing in SWIFT network create delays and result in penalties. This is where Logic Apps enables customers to send/receive these transactions as per the standard as well as proactively address these issues.
Azure Logic Apps enables you to easily create SWIFT workloads to automate their processing, thereby reducing errors and costs. With Logic Apps Standard, these workloads can run on cloud or in isolated environments within VNET. With built-in and Azure connectors, we offer 600+ connectors to a variety of applications, on-premises or on cloud. Logic Apps is gateway to Azure – with the rich AI and ML capabilities, customers can further create business insights to help their business.
The SWIFT connector has two actions – Encoder and Decoder for MT messages. There are two key capabilities of the connector – transformation of the message from flat file to XML and viceversa. Secondly, the connector performs message validation based on the SWIFT guidelines as described in the SRG (SWIFT Release Guide). The SWIFT MT actions support the processing of all categories of MT messages.
In this example we are listing the steps to receive an MT flat file message, decode to MT XML format, and then send it to downstream application
By default, the action does message validation based on the SWIFT Release Guide specification. It can be disabled via the Message validation drop-down
The VSCode updates will be available towards the end of the month. Until then, please use Azure portal for building your Logic Apps. We will be updating this article when the update is released.
For now, you need to contact us if you have any scenarios described below. We plan to document them soon so this is a short term friction.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.