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The benefits from meeting the ISO 20022 compliance deadline

The benefits from meeting the ISO 20022 compliance deadline

What are the benefits from meeting the compliance deadline on
ISO 20022

The ISO 20022 deadline on November 2022 is around the corner. The BankservAfrica SWIFT Bureau Team has taken important steps to help their customers going over this massive change.

The BankservAfrica SWIFT Bureau has partnered with Strate and Incentage AG for the
‘ICE - Incentage Conversion Engine’ module, which is based on the 'PIP- Payment Innovation Platform', to offer a revolutionary service that translates FIN (MT) messages into ISO20022 (MX) and SAMOS v8 standards sustainably.

Read the full article on the BankservAfrica Page by clicking this link
https://bit.ly/Incentage

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The benefits from meeting the ISO 20022 compliance deadline

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 ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

SWIFT - ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

We have interviewed Andrei Cristea Technical Consultant at Incentage AG about upcoming technologies

Andrei, can you please explain in few and easy words what this ISO 20022 is?

Andrei: ISO 20022 is the language of the future for the financial word. That is the shortest description I can come up with. To go into a bit more detail, the XML based ISO20022 standard allows Financial Institutions to use richer data sets in a standardized fashion. This means that systems can consume messages with faster automation and resolution.

Why are people speaking about message transformation when they relate to this Standard?

Message transformation is a cost-effective solution for navigating the coming transitional phase from the soon-to-be legacy SWIFT FIN (MT) standard to the future ISO 20022 standard. It helps Financial Institutions to start using and testing the new standards while keeping their existing systems mostly untouched. As the transition phase ends and the challenges posed by moving to the new standards are overcome, the systems themselves will benefit from the time spent using the ISO 20022 standards and will incorporate the latest changes. This will make them fully compliant with the new ways of the financial world.

What kind of hurdles have you found doing such transformations in your different client projects?

The main challenge raised by doing the transformations is that we are working in a constantly evolving environment. The new standard must not only cater for existing products and situations, but must also face the following paradox in the financial world: As the landscape is more interconnected, data and systems become increasingly diverse. As such, the standards themselves must evolve to keep ahead of the needs of the world and the systems that use these standards have to respond fast to the changes. This is where the flexibility of our products comes into play, as this is what allows us to react very quickly and implement these changes.

There is also the aspect of variety in the implementation of the ISO 20022 standard across different systems. A message of the same type from SEPA or TARGET2 (T2) will not necessarily look exactly the same as one from CBPR+. Both systems are going to evolve separately and might end up with some changes in the future, which you have to take into account and keep track of. Thankfully, our solutions allow us to tackle this challenge in an efficient and robust way.

Now we found out that ISO 20022 brings a lot of benefits especially for cross border payments. But it’s still the old fashioned way of working while improving old technology and processes.
Why banks don’t change to a Blockchain based payment process or introduce Bitcoin as a new currency to the system. Do you have any thoughts on that?

Well, I would say that “old-fashioned” is not a bad thing in itself. There is still great value in the traditional way of message processing and there is still a lot of room for improvements that will generate even more value for it. So I would reason that the “old way” is going to be with us for a long time to come, especially if it is constantly improved and if it can meet the demands of tomorrow.

Blockchain technology, while not new by any means, is still in its infancy, in my opinion. It has to prove that it can be at the very least as resilient, secure and cost effective as its counterparts, before there is any talk about replacing them. This does not mean that blockchain technologies do not have tremendous potential, they absolutely do, but first they must prove it and they must also stand the test of time.

As it stands, I think that the blockchain technology will continue to evolve. New projects are being created every day, some are meant to be industry disruptors and I am sure they will be one day. I am very curious to see what the next year will bring for this segment of technology

Have you been working in a Blockchain payment project where Bitcoin or Ethereum or other kind of Blockchain Technology was involved?

In short, no. I have not worked in any blockchain related projects so far. I am following a few blockchain platforms as I think they will provide the most interesting projects in the coming years. These are Cardano, Solana and Polka Dot. Each have different approaches to solving the issues that blockchains are facing, such as decentralization, network processing speed, scalability and cost and I am excited to see which one will bring the most innovative and disruptive projects in the coming years.

What is your personal opinion: How is Incentage positioned in ISO20022 as well as in Blockchain / Cryptocurrencies?

I think that the solutions and the expertise that we bring to the table are what give us at Incentage an edge in dealing with the coming transition to ISO 20022. Flexibility, fast response times and communication are key aspects in this endeavour and I believe these are core values for us.

Blockchain and cryptocurrencies are still emerging concepts and technologies that may bring great value in the future, depending on their use cases and adoption. When the time comes for the financial world to embrace new concepts, we will definitely be there to support our customers and to provide them with quality products.

Thank you very much Andrei for your insights.

Here you can follow Andrei's LinkedIn Profile

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Financial Messaging Consultant

Financial Messaging Consultant

Über den Job

Im Fokus

Von der Anforderungsanalyse über die Konzeption der Softwarelösungen bis hin zur Implementierung beim Kunden begleitest du die Einführung von zukunftsweisenden Financial Messaging Lösungen. Diese werden bei Banken und Versicherungen und in anderen Branchen als Schlüssellösungen bei der Applikations-Integration (EAI) oder bei der Prozessüberwachung eingesetzt. Als verlängerter Arm des Service Desks betreust und unterstützt du die Kunden auch bei ihren täglichen operativen Fragen.

Über uns

Incentage ist ein führender Anbieter von Messaging Lösungen für den Finanzmarkt. Internationale Finanzinstitute wie Euronext, Credit Suisse, Nomura oder Strate verlassen sich auf unsere Produkte, um Applikationen und Meldungsflüsse im Zahlungsverkehr und der Wertschriftenabwicklung zu integrieren, überwachen und Benutzern zugänglich zu machen. Incentage ist seit über 20 Jahren weltweit im Finanzmarkt bestens verankert und bekannt für hochstehende Softwareprodukte, die flexibel sind und Kunden helfen, in dem schnell ändernden Umfeld am Ball zu bleiben. Kundenorientierung heisst bei uns, dass Resultate wichtiger sind als Prozesse und Organisation.

Bei 40 Stunden Wochenarbeitszeit im Gleitzeitmodell bietet Incentage ein marktübliches Salär, überobligatorische Beteiligung an der Pensionskasse, keine Abzüge für UVG und eine Vielzahl kleinerer Goodies wie gratis Parkplätze, gratis SBB Halbtaxabo, gratis Getränke und vieles mehr.

Deine Aufgabe

Du setzt dich gerne mit überdurchschnittlichem Einsatz für deine Resultate ein und wirst gerne Teil des Erfolgs? Dir machen ausserordentliche auch internationale Einsätze zu teils ungewöhnlichen Arbeitszeiten nichts aus? Du bist ein ausgeglichener Teamplayer und besitzt gute Kommunikationsfähigkeiten? Du gibst dein Wissen gerne weiter und nimmst ebenso gerne Wissen auf? Du arbeitest gerne selbständig und besitzt eine überdurchschnittliche Portion Eigeninitiative? Du verfügst über ausgeprägte technische und konzeptionelle Fähigkeiten sowie hohe Kundenorientierung? Begeistern dich innovative Technologien? Docker, Kubernetes, Elasticsearch, SQL, SWIFT oder ISO 20022 sind keine Fremdworte für dich? Du weisst, wie Zahlungsverkehr und Wertschriftenabwicklung grundsätzlich funktionieren? Stilsicheres Deutsch und verhandlungssicheres Englisch sind kein Problem für dich? Du konntest bereits erste Projekt- und gegebenenfalls Führungserfahrung sammeln?

Wenn du die obigen Fragen mit «ja» beantworten kannst und wir dein Interesse geweckt haben, kontaktiere mich direkt unter marco.demarmels@incentage.com
oder hier unten über LinkedIn. Wir freuen uns auf deine Kontaktaufnahme!

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Financial Messaging Consultant

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Frontend Developer VueJS / Quasar, 80 - 100%

Frontend Developer VueJS / Quasar, 80 - 100%

About

Satisfied with your current job? Can you imagine a change? We are extending our development team with a frontend developer with a few years of experience. We are passionate and love clever software design and clean code. As developers we are “all in”, roll up our sleeves, coordinate continuously (in German and English) and work for results – wherever there is a need.

In focus

An event based, distributed messaging platform with a scalable store for hundreds of millions of messages and a modern Web UI. Parts of it are currently being renewed for the next generation of the platform.

We decided to base our frontend on the VueJS based Quasar framework. The latest Vue3, VueUse and Pinia among others allow us to work highly efficient and make a lot of fun.

As part of the frontend team, you are involved in the full lifecycle of development: Breaking down requirements, designing solutions, developing features and testing, bug fixing and helping our professional services staff with product related questions.

Requirements

·       Experience in development of larger, web based business applications

·       Strong knowledge of Vue (2 and 3) and its stack (Vuex, Pinia, Vue router, Vite, Webpack) using         Options API and Composition API

·       Strong knowledge of JavaScript / Typescript

·       Knowledge of HTML / SASS / CSS and

·       Knowledge of Web design and UI / UX principles

·       Knowledge of Git, Jira, Confluence

·       Know how to apply clean code and testing principles

·       Good English and/or German speaking skills

·       Bea Great team member!

Nice to have:

·       Experience with Quasar framework

·       Experience with Postgres, Elasticsearch

·       Knowledge of CI/CD pipelines and Docker

About us

Incentage is an independent provider of messaging solutions for the financial market. Companies like Euronext, Credit Suisse, Nomura, or Strate rely on our products to integrate, monitor, and make applications and message flows in payment and securities processing accessible to users. Incentage has been well established in the financial market for 20 years and is well known for software products that are flexible and help clients to stay on the ball in a rapidly changing environment. For us, customer orientation means that results are more important than processes and hierarchy.

With a 40-hour working week in the flexitime model and mixed home-office/ presence plan, Incentage offers a salary in line with the market, extra-mandatory participation in the pension fund, no deductions for UVG, and a variety of smaller goodies such as free parking, free SBB half-fare cards, free drinks, and much more.

Interesting in getting to know us?

Don’t hesitate to contact me on   +41 43 355 86 00 or by e-mail:

Alessandra Fischer
Human Resources

alessandra.fischer@incentage.com

We look forward to hearing from you!

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Frontend Developer VueJS / Quasar, 80 - 100%

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Fullstack Engineer, 80 - 100%

Fullstack Engineer, 80 - 100%

About

Satisfied with your current job? Can you imagine a change? We are extending our development team with a Fullstack Engineer with a few years of experience. We are passionate and love clever software design and clean code. As developers we are “all in”, roll up our sleeves, coordinate continuously (in German and English) and work for results – wherever there is a need.

In focus

An event based, distributed messaging platform with a scalable store for hundreds of millions of messages and a modern Web UI. Parts of it are currently being renewed for the next generation of the platform.

As a Fullstack Engineer you are involved in development of the Java backend as well as the Vue3 / Quasar frontend. While we are successful in splitting work between frontend- and backend specialists, fullstack engineers have a key role in ensuring consistency of concepts and architecture throughout the application. You are involved in the full lifecycle of development: Breaking down requirements, designing solutions, developing features and testing, bug fixing and helping our professional services staff with product related questions.

Requirements

·       Experience in designing and implementing restful APIs using Spring Boot or similar

·       Experience in designing and building infrastructure and web services at large scale

·       Knowledge of Vue (2 and 3) and its stack (Vuex, Pinia, Vue router, Vite, Webpack)

·       Knowledge of JavaScript / Typescript/ HTML / SASS / CSS

·       Knowledge of Git, Maven, Jenkins, Jira, Confluence

·       Know how to apply clean code and testing principles

·       Contribute to and maintain existing documentation

·       Good English and/or German speaking skills

·       Be a Great team member!

Nice to have:

·       Message Queues (JMS)

·       OpenShift, Kubernetes, Docker

·       Postgres ,Elasticsearch

·       Quasar framework

·       CI/CD pipelines

About us

Incentage is an independent provider of messaging solutions for the financial market. Companies like Euronext, Credit Suisse, Nomura, or Strate rely on our products to integrate, monitor, and make applications and message flows in payment and securities processing accessible to users. Incentage has been well established in the financial market for 20 years and is well known for software products that are flexible and help clients to stay on the ball in a rapidly changing environment. For us, customer orientation means that results are more important than processes and hierarchy.

With a 40-hour working week in the flexitime model and mixed home-office/presence plan, Incentage offers a salary in line with the market, extra-mandatory participation in the pension fund, no deductions for UVG, and a variety of smaller goodies such as free parking, free SBB half-fare cards, free drinks, and much more.

Interesting in getting to know us?

Don’t hesitate to contact me on +41 43 355 86 00 or by e-mail:

Alessandra Fischer
Human Resources

alessandra.fischer@incentage.com

We look forward to hearing from you!

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Fullstack Engineer, 80 - 100%

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