A self-managed service that makes it easy to create and exchange secure digital instructions at scale.
Connecting the financial market ecosystem
Strate’s Integration Services digitally connects critical players in the financial market ecosystem. We provide a trusted environment backed by proven infrastructure that allows entities to cost effectively and securely exchange digital information.
Our systems are only accessible to authorised and trusted parties and provide numerous benefits, including history and audit, delivery tracking and content validation.
Users will have access to self-help portals to manage their own connectivity.
Only parties that have been authorised and vetted will be connected to the service.
The service has built-in message parsing capabilities to ensure all messages are compliant with their message specifications before delivery.
Messages can be monitored and tracked in real time at every point of the journey to their destination.
History and audit trail
All actions performed on the service will be available to audit and report on.
Connecting the South African financial market through secure messaging
Getting ready for ISO 20022
The South African Reserve Bank is working with the payment industry to replace the existing Real-Time Gross Settlement (RTGS) system with a new-generation ISO 20022 solution that will cater to requirements stemming from payment innovations, regulatory changes and the evolving business landscape.
Future communication with payment systems will require instruction in ISO 20022 format. ISO 20022 is an increasingly established global language for payments messaging that is already used by payment systems in over 70 countries.
It will become the standard for high-value payment systems of all reserve currencies, supporting 80% of global volumes and 87% of the value of transactions worldwide. SWIFT will enable ISO 20022 messages for cross-border payments and cash reporting businesses starting from the end of 2022.
Easy access to ISO 20022 via Strate
Not all industry players can communicate on the ISO 20022 standard. Strate can help as our conversion engine ensures the seamless upward and downward compatibility of messages to ensure no disruption to your communications processes.
Our service aims to:
- Improve integration with external systems
- Make processes more visible to make the system easier to use
The RTGS system will:
How Strate's conversion engine works
The conversion engine receives a message (IBM MQ series or secure file transfer) and validates the message. The message is then converted into the corresponding message and sent in the required format to the client, as shown below/alongside.
Our conversion platform offering
Strate offers a conversion platform with pre-mapped format conversions to enable cross-border transactions and to accelerate the SAMOS system replacement project.
We charge a once-off set-up fee of R15 000 per client and a monthly conversion fee of R820 per conversion per direction (limited to 10 000 messages per client per day).
High volume conversion exceeding 10 000 messages per client per day will be quoted separately. Additional customisation can be arranged on request.