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Key takeaways

 

✔️EBID BIDC faced challenges with staying up to date on Swift requirements and maintaining compliance.

✔️DiXiO's experts provided expert guidance and support, resolving configuration mistakes, and streamlining operations.

✔️The Smart Messaging Platform enabled efficient integration with back-office applications, enhancing operational efficiency.

 

   “We’ve noticed a big improvement in operational efficiency. We don’t feel like we’re falling behind anymore. We can get things done on time, and we’re better at spotting problems before they happen. Plus, whenever we need help, DiXiO experts are there to support us.”
Elijah OMIJIE
Head of IT at EBID BIDC

 

ebid-bidc-logo-300x300

EBID BIDC
Industry:
Investment Banking
 
Where:
Lomé, Togo
 
Solution:
Smart Messaging Platform
 
Smart Messaging Platform
 
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   “We were having trouble keeping up with the changes happening in the Swift system. Innovations like Swift Go, ISO 20022, and other updates were coming out, and we couldn’t always understand what they meant or how to use them.”
Elijah OMIJIE
Head of IT at EBID BIDC

 

Customer History

Established in the heart of West Africa, EBID BIDC (Economic Community of West African States Bank for Investment and Development) stands as a pivotal financial institution dedicated to fostering economic growth and development within the region. With a rich history spanning several decades, EBID BIDC has played a crucial role in supporting infrastructure projects, promoting trade, and driving sustainable development initiatives across its member states. EBID BIDC holds a significant presence in the banking and finance sector. It offers a range of services tailored to meet businesses and individuals’ diverse needs.

With the ever-evolving financial messaging landscape, EBID BIDC struggled to manage their Swift connectivity and stay compliant. On top of that, they wanted to take advantage of the latest Swift innovations, but it all felt overwhelming.

The company then decided to work with a Swift partner, one who could help them take advantage of Swift’s latest innovations and navigate the financial messaging world. EBID BIDC chose to adopt DiXiO’s Smart Messaging Platform.

 

Customer Needs

Maintain compliance with Swift standards and regulations, including ISO 20022 migration.

Understand and implement new Swift features and functionalities like Swift Go.

Improve operational efficiency and reduce the risk of errors.

Access expert guidance and support for Swift-related issues.

 

Solution

Before DiXiO, EBID BIDC managed their Swift connectivity internally. They needed support to handle the complexities of Swift operations and ensure continuous compliance with Swift requirements. EBID BIDC, had the following requirements: Administration, System clean up & Housekeeping, Configuration, Monitoring, Backup, and Resiliency.

The impact of the Smart Messaging Platform was evident in the tangible improvements observed by EBID BIDC. Operational efficiency was markedly enhanced, allowing the bank to carry out transactions and meet regulatory requirements with greater ease and accuracy. Additionally, the integration capabilities with back-office applications were significantly improved, enabling seamless communication and data exchange between systems.

Furthermore, DiXiO provided ongoing support and guidance to EBID BIDC’s IT team, empowering them with the knowledge and tools needed to navigate Swift system updates and compliance requirements effectively.

Conclusion 

Thanks to DiXiO's Smart Messaging Platform (SMP), EBID BIDC now benefits from a robust and secure platform, streamlining their financial messaging process, ensuring simplicity and security.

Enhanced compliance: EBID BIDC is now confident that they are meeting all Swift requirements and regulations.

Increased operational efficiency: Streamlined processes and automated tasks have led to significant time and resource saving.

Improved decision-making: DiXiO's expert guidance empowers EBID BIDC to make informed choices about their Swift infrastructure.

 

 

Next Steps

Moving forward, EBID BIDC plans to continue leveraging DiXiO’s expertise to further optimize their Swift system integration and explore additional opportunities for improving operational effectiveness and compliance.

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