From now on, FinTRACE will provide Raiffeisenbank Bosnia-Herzegovina with an automated management and processing of the bank's international payment inquiries, with the implementation of domestic payment inquiries to follow.

The FinTRACE application replaces a manual investigation and handling process with a fully electronic case management supporting SWIFT, E-mail, Fax channels, as well as a direct interaction with Raiffeisen's reconciliation application. The Raiffeisenbank Bosnia-Herzegovina will also profit from FinTRACE's full support for "SWIFTNet Exceptions and Investigations", an ISO20022 XML-based initiative which sets new and far-reaching international standards for payment investigations. The application is centrally hosted at CRISP (Centralised Raiffeisen International Services & Payments SRL) in Bucharest, Romania, and has interface connections to a series of back-office applications at Raiffeisenbank Bosnia-Herzegovina.

The FinTRACE application is a rule-based case management system designed to automate the investigation process, not only for payments transactions but also for securities settlement processing, FX and Money Markets; the application is also covering customer complaints for organisations of all sizes from single to multi-entity. FinTRACE offers an easy-to-use web-based user front-end and provides comprehensive functionality with full support for the SWIFTNet E&I rulebook and is certified with the "SWIFT Ready Label for Exceptions and Investigations".

Günther Gall, Head of Division Transaction Services of RBI stated "We are fully on-track with our planned migration of all network banks within the RBI group to FinTRACE, Raiffeisenbank Bosnia-Herzegovina being the fifth network-bank to go-live with FinTRACE and participate in the new era of payments exceptions and investigations processing."

Pierre Brisse, General Manager of CRISP (Centralised Raiffeisen International Services & Payments SRL), the shared service centre of RBI in RRomania, stated, "Due to the diversity and complexity of the individual requirements of our network banks, we chose to harmonize the investigation processes and implement standard technology."

Dirk Vesper, VP Product Management at Swissrisk said, "Today we have thousands of FinTRACE users at several major customers. The processing of exceptions and investigations has long been considered a purely manual process with little room for automation and technology support. FinTRACE is proving that customers can transform their operations to a high degree of efficiency. And we are proud to have assisted yet another leading financial institution to not only improve efficiency and customer perception but also by removing manual effort and thus reducing cost"

Separately, Swissrisk has announced the release of a new major version X-Gen 3.6.

X-Gen is the product of choice for an increasing number of financial institutions to automate business processes thus increasing the efficiency of their Back-office operations areas. Swissrisk's best-of-breed solution provides a powerful workflow engine and ready-to-use messaging modules for business activity monitoring. A built-in graphical rules designer along with a builder for web screens significantly shorten the time needed for configuration and project roll out, allowing customers to reduce project risk and increase time-to-market.

X-Gen version 3.6 allows clients to integrate 3rd party web-based development tools directly with X-Gen by using a state -of-the-art Web-Service-based online interface. Clients benefit from X-Gen´s powerful rule design- and processing capabilities combined with the web screen development platform of the customer´s choice. Putting all this together, powerful and scalable web based applications can be built with X-Gen featuring business activity monitoring, application interfaces as well as SWIFT and FIX messaging.

X-Gen has been awarded with multiple SWIFT certifications including "SWIFT Ready Label for Financial EAI" and the "SWIFT Ready Funds" label for more than a decade. X-Gen clients are able to increase processing efficiency dramatically within weeks and gain benefit from short-term "Return on Investment".

X-Gen Rel. 4.0 is scheduled for early 2012 and will bring yet further functionality supporting the organisation of rules for complex projects, automated deployment as well as impact analysis for system changes and powerful additions to the system monitoring.

Dirk Vesper, VP Product Management at Swissrisk says "Our new X-Gen release 3.6 is designed to give our customers immediate additional efficiency benefits from a modern, platform independent and open financial workflow and messaging solution"

Andreas Wagner, member of the Management Board of Swissrisk says: "As the financial community runs through a permanent process of mergers and acquisitions and at the same time needs to adapt to regulatory and market driven changes, X-Gen helps our clients to reduce process complexity dramatically and ideally embeds into heterogeneous business and IT landscapes. Besides its messaging and workflow capabilities, X-Gen has now been further developed to a powerful business application development suite".