Australia-based Suncorp Bank has deployed the upgraded version of modular automated processing system (MAPS), developed by Decillion Solutions.
Suncorp Bank has been using the MAPS since 2009. The latest version, MAPS V3, features more advanced processing environment that will help ease the complexities faced by existing MAPS V2 version.
Besides providing Suncorp Bank with future proof against yearly SWIFT Standards Changes, MAPS V3 will also provide more advanced processing platform with possibility of wider applications.
The flexibility of the latest version also allows future expansion of MAPS processing.
Suncorp Bank FX & IR product specialist, Karen Mak, said with MAPS, manual rekeying of FX transactions is no longer necessary and this has improved accuracy and processing turnaround times.
"In addition, the MAPS system has facilitated a more detailed level of Foreign Exchange reporting to enable product management to analyse the business in a more efficient manner" Mak added.
Decillion Solutions Australia country manager, Joan Catacutan, said the enhancements in V3 will further improve the existing MAPS system and allow for Suncorp Bank to comply with the changing SWIFT standards.