BOX has comprehensive functionality for back-office integration, manual message processing, warehouse, and archiving.

Fully integrated with the customer’s choice of infrastructure, the solution is based on a robust and format independent engine. BOX includes a flexible workflow engine for file/message management and orchestration – including routing, exception handling and interoperability with one or more networks and market infrastructures.

BOX supports multiple financial networks (EBICS, SIAnet and SWIFTNet) on the same platform, with further network interfaces implemented based on customer community demand.

Supporting ISO 20022
BOX provides full support for ISO 20022, including MT/MX coexistence and support for the cross-border and high-value payments migrations – beginning November 2022. BOX provides complete message and file validation (syntax, semantics, cross-field), including bi-directional conversion for SWIFT FIN and ISO 20022 messages for CBPR+, T2/T2S consolidation, EURO1/STEP1, CHAPS, CHATS, MEPS+, FED and TCH.

Conversion of industry to/from proprietary and legacy formats in BOX allows customers to shield their back-office applications from periodic SWIFT and market infrastructure changes.

Cloud native deployment
As well as traditional on-premise and service bureau deployments, BOX now offers a cloud deployment option. 

BOX deployments in cloud infrastructure container environments are something Intercope has been working on with IBM Secure Service container and Red Hat Openshift container for a number of years. The next stage was to test BOX on public cloud infrastructures and this went live in 2020 on IBM FS public cloud, Amazon AWS, Google cloud and Microsoft Azure for public, private or hybrid cloud deployments of BOX – providing a potential future deployment model option or even the ability to stand up new test environments quickly off premise.

This has gone very well in a ‘lift and shift’ style solution migration, allowing customers to take advantage of BOX functionality as they have it today, straight away in the cloud.

The next evolution is a cloud-optimised BOX solution where specific services in BOX are available uniquely as micro style services with accessibility via API in a cloud optimised solution. This is the same great BOX functionality running cloud natively in a private, public or hybrid cloud with data access points via API to the bank, and connectivity to the interbank networks through bank or cloud hosted virtualised devices via BOX.

Format conversions and enrichments
BOX comes with conversion between SWIFT FIN (MT) and ISO 20022 (MX) messages, and vice versa. The product supports SEPA, CBPR+, TARGET2 Services, EURO1/STEP1, SIC, CHAPS, CHATS, MEPS messages for ISO 20022 and their migration paths. Intercope have developed a new conversion methodology in BOX to allow for better management for our customers of these data/message translation requirements.

This facilitates easier back-office integration and scheme changes, allowing updates for new scheme releases via GUI configuration instead of code – using a new MT-MX conversion module driven by Transformation Scripts.

Multi-network switch
BOX supports multiple financial networks, such as EBICS, SIAnet and SWIFTNet providing customers with a multi-network switch and single view for messages and files.

• SEPA SCT and STEP2 via SWIFTNet, SIAnet or EBICS
• Instant Payments for RT1 via EBICS, SIAnet or SWIFTNet
• Instant Payments for TIPS via SIAnet or SWIFTNet
• T2 via SIA-Colt or SWIFTNet
• TARGET services (TARGET2, T2S and ECMS via ESMIG) via SIA-Colt or SWIFTNet
• EURO1/STEP1 via SWIFTNet

BOX can take a transaction from the customers payment application and transfer it without any destination or network specific envelope information.

Multi-CSM capability
With its multi-network capability, BOX can connect to several clearing and settlement mechanisms (CSM). This multi-network and multi-CSM capability in BOX allows customers to make business choices on which market infrastructure to connect to, without being restricted by their gateway technology.

BOX allows large institutions to handle multiple banks (direct and indirect), and BICS on one system, with separated entities (i.e. with workflow, routing and data completely separated) running across multiple geographies, controlled by the customer.

Instant payments
BOX supports Instant Payments with messaging intelligence for continuous operations with a deployment on our customer’s choice of infrastructure. With additional multi-network functionality, BOX supports both EBA CLEARING RT1 and ECB TIPS for all network options.

Low latency with high scalability ensures high throughput and peak volume handling. BOX provides a unique dashboard for Instant Payments to support Operations.

BOX payments message warehouse
Intercope have developed a new Payments Message Warehouse for BOX in response to customer requests for their ISO 20022 payments migrations, driving a need to control, manage and reconcile translations and have a central overview repository for reconciliation and reporting.

It comes with a single repository overview of all payments data passing in/out of BOX providing extensive search and reporting capabilities for both MT and MX and importantly reconciliation functionality for both together through the Payments Journal View.