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ABSA to use SWIFT’s Exceptions and Investigations

First South African bank to sign up

Left to right: Edward Leach, Head of Africa South, SWIFT. Ameesh Singh, Systems Analyst, Absa Group Operations. Sean Mouton, IT Solutions Architect, Absa Group Operations.

ABSA, part of the Barclays Group, is the first bank in South Africa to sign up for SWIFT’s Exceptions and Investigations solution, leading the way in a community-wide initiative to implement Exceptions and Investigations across other major banks in the country. 

“This is highly significant because it gives us the ability to see the reconciliation information flow and identify exceptions at the transactions stop-point – a process that currently manual,” says Sean Mouton, IT Solutions Architect at ABSA. “Exceptions and Investigations will provide us with an complete list of transactions from end-to-end, furnish automated event reports and enables us to have a ready answer whenever customers ask: ‘Where is my money?’”

While Mouton acknowledges the cost benefits of Exceptions and Investigations, he is more interested in the operational efficiencies that automated exception handling will provide, and even more importantly the value it adds to customer services.