Sakobia

Sakobia is a central messaging hub designed to manage the generation, validation, authorization and translation of SWIFT messages without having to modify your existing infrastructure. It is a full stack enterprise web-application deployed in the bank. With Sakobia, banks can seamlessly transit from SWIFT MT to new SWIFT MX standards faster and cost-effectively.

Seamless Upgrade

With Sakobia, Banks can simply manage and secure incoming and outgoing messages with Sakobia across all of their applications. They can deal with issues such as varying timescales and migration approaches, standard coexistence of legacy applications, data management challenges, and more, allowing banks to meet mandatory deadlines without having to upgrade their existing systems or procedures.

Let’s support you on your migration journey

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Banks globally are gearing towards the migration of SWIFT messages from the legacy MT financial messaging to the highly structured ISO 20022 standard. The migration of SWIFT messages from SWIFT MT to ISO 20022’s data-rich MX payment messaging standard is a significant transformation for the financial services industry.

Features of Sakobia

MT-MX Translation

Automatic conversion of messages from MT to MX and vice versa.
The translation factory auto-corrects the input message to generate a complete and valid output message despite the input being invalid.
Sakobia implements more than 200 out-of-the-box translations based on the SWIFT translation rules.
Supports both manual and automatic translator selection given a source message.

Customizable Messaging System

Customizable web-based messaging system for FIN MT and ISO 20022 message management.
Message Matching and Chaining.
Searching and archiving for all MT and MX message types.
Message entry to create or repair any MT or MX using dynamic business-centered GUI.
Quick and scalable user-defined Business Processes.

Nostro Reconciliation

Real-time reconciliation of MT 103 and MT 910 transactions, lowering costs and operational risk.
Optimize liquidity of nostro accounts more efficiently by daily credit (MT 910) and debit (MT 900) updates and EOD statements (MT 940).
Real-time matching of messages based on user-defined rules.
Out-of-the-box settings for Treasury, Securities and Settlements reconciliation.

Automatic Validation Of SWIFT Messages

SWIFT format validation rules, including message structures, fields and semantics (network rules).
Validation for all message categories helps to reduce costs by preventing NAKs and rejections.
Support for custom rules which can be tailored to fit specific user groups restrictions as MA-CUGs or RTGS.
Prevention of duplicate release of outgoing messages and duplicate processing of incoming messages.

Simple Integration And Reporting

Seamless integration across all banking services and applications using REST API.
Supports both MQ and file system connectivity for back-office applications and SAA.
Monitoring and proactive reporting for all activities within the systems
Comprehensive reporting of messaging history and reports can be exported to Excel, CSV and PDF

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