Spunta nostro/vostro accounts

Spunta nostro/vostro accounts aims to improve the reconciliation based on MT950 messages and different and segregated types of software thanks to a DLT infrastructure acting as a common platform and a distributed application that allows interoperability, standardization and future applications.

The characteristics of the DLT network (immutability, security and transparency) offer the opportunity to simplify processes and increase dialogue and interconnections in the ecosystem, bringing significant value to each participant.

The accounts that use the Swift MT950 messages as feed flows will be manageable and in the event that they underlie the same matching logics.

Below is a non-exhaustive list of accounts that can be managed:

• Management of foreign currency accounts
• "Ordinary" account management
• Management of intercompany accounts with foreign counterparties
• Management of «thousand»/target accounts with the Bank of Italy

Synergies and savings opportunities

There are several synergies both in terms of process and in terms of developments compared to what has been achieved for the reciprocal accounts managed by Spunta:

• Node sharing with the Spunta Banca DLT application and any use cases
• Internal and external test environments useful for more than one use case
• Same license
• Management and licensing of central services, such as Doorman and Network Map (no Notary)
• Application monitoring
• Application help desk
• Incident, Release and Change management

BENEFITS

• Standardization of daily flows
• No more exchanging messages and communications via SWIFT
• Only the involved participants own the information - Guarantee of privacy
• Common matching rules using smart contracts - Process configuration and control
• Data sharing and reconciliation in near real time - Delays eliminated
• E2E functional process coverage - All functionality in one system
• User-friendly interface - Ease of use

RESULTS

• Reduced operational risk
• Reduced operating costs
• Higher match rates
• Operational efficiency
• Transparent process
• Standardization of daily flows

The initiative is in a pre-production stage.
Interested companies can request more information by writing to spunta@abilab.it and indicate an expression of interest in view of the production phase.
It is also possible to join now, obtaining not only economic benefits but also a leading role for future developments and for the definition of governance issues.