Exploring value and volume of inbound/outbound transactions

SWIFT is the ‘Society for Worldwide Interbank Financial Telecommunication’, through which the financial world conducts its business operations with speed and certainty. It enables customers to automate and standardize financial transactions, thereby lowering costs, reducing operational risks. SWIFT is solely a carrier of messages. It does not hold funds nor does it manage accounts. As a data carrier, it transports messages between two financial institutions. This activity involves a secure exchange of data while ensuring its confidentiality and integrity. The Sunburst visualization analyzes inbound and outbound transactions in SWIFT between currencies and depicts the volume and value of each. Direct and indirect symbolizes the absence of usage of intermediary Bank/Institution respectively while carrying a transaction.

Challenges  

 Some of the major challenges faced were :

• Depicting high volume of transactional data in a single visualization 
• Analyzing Direct/Indirect as well as Inbound/Outbound data simultaneously 
• Lack of knowledge about drivers in selecting a currency in a transaction 

Solution  

 Solution provided by InfoCepts enabled the following capabilities to address customer challenges : 

• An interactive and seamless interface that accelerated the decision-making process 
• Visualization utilized depicts volume as well as the value of Inbound/Outbound, Direct/Indirect transaction of major currencies in a hierarchical structure with each hierarchy depicting slabs in value and volume, e.g. – the volume of Direct Inbound transaction of All currencies is ‘more than 30%’ 
• Visualization helps in selecting a currency for the transaction according to the volume of transactions 
• Key factors for influencing corporate treasurers include transaction costs, exchange rates, hedging management, thus visual helps corporates to influence their decision