PINQ Classic

PINQ supports payment related transactions

International money transactions have developed very dynamically in the last few years. The steeply rising number of transactions also comes with a steady increase of information exchange between financial institutions using SWIFT. An average of approx. 15 Million SWIFT messages is being sent every day.

This development has resulted in large investments by financial institutions, so that now more than 90 % of transaction processes occur automatically and correctly.

PINQ Classic
PINQ Broschure

But what happens if a transaction is not automatically processed or does not arrive in the expected location?

According to a SWIFT survey among renowned financial institutes, as many as 5% of all money orders result in queries. The manual processing of these cases suffers from significant weaknesses:

  • A lack of effective and efficient interfaces between query receiving and the back office.
  • A tremendous amount of work created by manual processing
  • Steadily rising processing costs due to increasing transaction volumes
  • The communication between the involved parties does not meet SWIFT standards
  • Dissatisfied customers due to drawn-out query processes

The EU guidelines for the standardization of money transactions have further tightened the requirements of query handling for transactions.

Interested?

Call us or write us

Rainer Schnell

Director Business Development

Phone: +49 6122 9176 0