All financial institutions processing SWIFT MT Category 1, 2 and 9 series messages must be able to receive and process Cross-border Payments and Reporting Plus (CBPR+) compliant ISO 20022 messages. Conformance to CBPR+ specifications will be validated by the SWIFT messaging service, so it is imperative that banks implement the specifications correctly.
AEG MidSys3 is a middleware application that resides between core banking applications and SWIFT Alliance Access/Entry and transform the MT messages to ISO 20022 and vice versa. It plays a role of transforming standards, adapting to bank’s operational procedures, adapting to CBPR+ regulations and has the capability to enrich the messages where needed.
Further, AEG MidSys3 allows the back-office systems to exchange the T2 payload information. It contains the required T2-specific logic to communicate with T2 using the SWIFTNet interface. It handles both the InterAct and FileAct messaging services in real-time or store-and-forward mode, including the handling of T2 BAH/BFH signatures. The application also offers a number of add-on features that make it even more powerful such as monitoring, security, integration with AML solutions, email notifications, and workflow definition.
Ever since the first release of CSP in 2016, AEG has been working closely with its clients providing consultancy, guidance and support concerning the compliance with SWIFT’s CSCF framework. In the past four years, AEG performed security awareness sessions, security assessments, risk assessments, penetration testing, along with various activities to detect vulnerabilities, risks and gaps. Moreover, AEG has also been providing security and business continuity products in the quest of keeping its clients protected and compliant. With all the CSP projects that we have done, we have always had satisfying results and contented clients.
Today, AEG is proud to announce that it has been listed on SWIFT’s directory of CSP assessment providers. Being acknowledged as an official assessor will undoubtedly strengthen the trust of our current and future clients; the trust that we highly value, appreciate, and work hard to maintain.Go to SWIFT CSP Assessment Providers Directory
With the spreading of COVID-19 pandemic, Governments around the world are requesting their citizens to work from home, which would affect institutions on how to monitor and control the security of the day-to-day tasks performed by their personnel. In that scope, AEG is proud to present a special offer on its PASM Solution by Ekran for a limited period. With Ekran, you could perform all your session monitoring for your personnel while they are working from the safety of their homes.
This offer is valid until the end of May 2020. Should you be interested in this offer and wish to have more information about the product, please do not hesitate to contact your country / account manager.
AEG is offering a powerful and secure message distribution application “AEG SmartSMD Solution” that allows the bank’s staff to perform, remotely and securely, an efficient and automated smart dispatching of the incoming SWIFT messages / transactions to the related department / personnel for processing. The concerned departments and personnel can receive copies of their messages by mail without the need to check the printouts physically as a copy with exact content will be mailed to the appropriate personnel.
SmartSMD will automate all your SWIFT printing jobs right to your mail no matter how complex your message dispatching process is thanks to SmartSMD’s advanced routing engine. SmartSMD is also used for strict SWIFT messaging monitoring, helping financial institutions to enforce security and compliance as it allows managers to monitor the messaging creation, modification and authorization during these difficult times where unfortunately hackers increased their criminal activity lately and managed to hack Finastra, the Third Largest FinTech Firm in the World a few days ago. SmartSMD is web-based, easy to use and can be remotely installed . It has been also used by number of big banks. AEG, as part of our social contribution towards our customers, announces for a very special offer on AEG SmartSMD valid till end of April 2020. Should you be interested in this product and wish to have an offer or have more information about the product, please do not hesitate to contact your country / account manager.
Considering the current circumstances forced by the COVID-19 pandemic, we hope that you and your family are safe.
Further, we would like to inform you that we have taken all health safety measures as to ensure the protection of our teams at all departments across our branches.
We have all systems and technologies ready in place to operate anywhere throughout our branches across the Middle East and Africa; we will be working on-site where possible or executing secure remote collaboration where needed.
Our teams will be operating from our physical offices or from virtual offices depending on the situation. In this manner, we can promise the continuity of our business undertakings. We ensure that meetings, presentations, demos and professional services can take place virtually. Our support team is ready to serve you at any time via phone, email, Webex and all scheduled deliveries and implementations will be completed on time.
We hope to surpass this situation all together very soon. Until then, stay safe.
Our agenda for 2020 is already busy with much work to be done and much events to be attended. In addition to launching a new Service Bureau site in France, opening two more branches to serve our clients in the Gulf and Africa more closely, and enhancing our existing products, we are currently in the course of developing two new products that will soon be officially launched and at the disposal of our clients. The first is a universal payment confirmation solution, and the second is an MT to ISO 20022 convertor application. These two will be part of our Service Bureau offering as of next quarter.
Knowing that payment confirmation will be mandated soon by SWIFT, AEG took the initiative to develop a solution that addresses this need through creating an application that facilitates to the bank the process of sending a confirmation of received transfers both manually or automatically, while having the capability to integrate with the core banking applications.
On the other hand, while the format of financial messages changing from MT messages to ISO 20022 standard, AEG is developing a solution that facilitates the conversion of SWIFT MT type messages exchanged between the core banking applications and the SWIFT interface to ISO 20022 XML messages, this will help to avoid the need to update the core banking applications to support ISO 20022 XML messages.
The coming year is promising as it will hold new business opportunities with all the new payment technologies and emerging standards. AEG is always ready to provide the best for its clients and partners to achieve success together.
With the new payment technologies that are changing the conduct of the financial industry lately and with the latest security measures being imposed on the banks, AEG is always looking forward to providing its clients with solutions that make the transition to new technologies very smooth and headache free. This past year, AEG has integrated into its offering a penetration testing service in collaboration with Rapid7, a risk assessment consultancy service, gpi payment application, a payment control and monitoring application, and a message dispatching and distribution application.
AEG Penetration Testing: a technical consultancy service by which a simulated cyber-attack is performed on an IT Infrastructure to evaluate the implemented security controls. The test is executed to identify misconfiguration, weaknesses and strengths.
AEG Risk Assessment: a consultancy service targeted to test various attack scenarios via table-top exercise using either ISO 27005 or NIST Risk Assessment framework. The outcome of this exercise is to check possible ways that an adversary can gain unauthorized access to compromise integrity, confidentiality or availability.
AEG gpi-PRO: an application that benefits from the SWIFT GPI tracking service and can be fully integrated with the bank’s core banking applications and internet banking services to help the banks easily tracking, monitoring and managing their transfers, offer their customers fast transfer possibility, an easy tracking and notification service and full transparency in handling the transfer.
AEG Payment Control and Monitoring: an application that allows the bank to better monitor and control all incoming and outgoing payments, implement rules and controls to detect and stop fraudulent activities, and implement messages reconciliation and correlation between back-office systems and SWIFT interfaces.
AEG SmartSMD (SWIFT Message Dispatcher): a solution that automates the manual processing and time-consuming distribution of SWIFT inbound messages and acknowledgements of outbound messages and tracking of executed and non-executed transfers.
In response to Sonema’s kind invitation for a socialization trip to Monaco to watch Formula1’s Grand Prix taking place on May 26 and to visit Sonema’s premises, Dr. Sadek, CEO, and Mr. El Harakeh, Business Development Manager, were glad to accept the invitation and join Sonema’s team for an interesting weekend and an unforgettable experience.
Throughout the stay, various business discussions and topics of mutual interest were raised and it has been very fruitful. There will be many positive outcomes to these meetings that will be inevitably reflected on our mutual business as partners and consequently on the business of our clients as well.
AEG is trusting RAPID7’s Vulnerability Scanner
AEG has always taken the initiative to provide its customers with the best solutions to best answer their concerns and address the challenges they are being met with. This proactive approach is not new to us and has always been the main drive and guide by which we do business.
This strategy we undertake implies that we ally with specialists and business partners to exchange knowledge and expertise in order to widen the capabilities for both sides. This partnership naturally reflects all its advantages on our customers, since they are to be served the latest technologies and the best technical support.
Rapid7 is advancing security with visibility, analytics, and automation delivered through an Insight cloud. Their solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Over 7,200 customers rely on Rapid7 technology, services, and research to improve security outcomes and securely advance their organizations. Rapid7’s on-premise option for vulnerability management software, monitors exposures in real-time and adapts to new threats with fresh data, ensuring you can always act at the moment of impact.
For more details, kindly contact our Sales team
AEG is now providing a penetration testing service. It is a technical consultancy service by which a simulated cyber-attack is performed on an IT Infrastructure to evaluate the implemented security controls. The test is executed to identify misconfiguration, weaknesses and strengths. Vulnerabilities may include the potential for unauthorized parties to gain access to accounts, sensitive data, or the gaining privileges and so on. The outcome of this exercise is a report that highlights the weaknesses captured in the penetration test, its criticality and its exploitability level.
AEG’s extensive knowledge and experience in SWIFT infrastructure allows a deeper understanding of what is best practice in this field and hence put the bank in a real test scenario. Knowing the gaps and vulnerabilities in a bank’s infrastructure has become an urgent need, especially after the recent massive heists that had occurred. AEG highly recommends this exercise for all its customers as part of their cyber security plan.
This is a consultancy service targeted to test various attack scenarios via table-top exercise using either ISO 27005 or NIST Risk Assessment framework. The outcome of this exercise is to check possible ways that an adversary can gain un authorized access to compromise integrity, confidentiality or availability.
This exercise is intended to evaluate whether the existing controls are enough or whether additional controls should be added. The scenarios are classified according to likelihood of impact on the organization. These are prioritized and forwarded for decision to the corresponding stakeholders. A report is generated showing results and suggesting risk treatment which is then evaluated by the bank for budgeting and handling.
AEG is urging its customers to assess their risks and take action toward their weaknesses and vulnerabilities in order to avoid any stay protected.
AEG is launching gpi-PRO application soon
Banks have been long striving to offer fast delivery of the payments with possibility for tracking the process, especially in the case of cross-border payments, as each bank has only been able to guarantee and share information of payments of its own.
SWIFT has launched the gpi – the new standard in global payments – to overcome money transfer challenges and create a quick and smooth cross-border payment experience.
In order to achieve a rapid and efficient adoption of gpi, AEG is offering “AEG gpi-PRO” – a new payment and tracking application which not only saves the bank all the trouble of going through development and testing, but also facilitates and automates the gpi payment process and tracking facility, along with many additional features, all the while being secure and free of human errors.
AEG gpi-PRO is a gpi payment and tracking application developed by AEG. It is dedicated to create gpi payments and allows the bank and its clients to track their payments in real time. The main role of it is to enable SWIFT gpi by converting corporate payment requests into gpi payments and by encapsulating gpi business logic and SLA requirements in payment transactions. And hence, AEG gpi-PRO is based on the available tools and capabilities of SWIFT gpi. It aims to enhance and facilitate gpi use by the banks. It integrates gpi with the functionalities and services of the back-office system and helps the banks offer tracking capability to their clients.
After the successful CSP projects in 2018 under Consultancy, Guidance and Support, and after the release of the CSCF 2019, AEG is following up with its customers in order to maintain their compliance.
It has been shared before with our customers that there are now 19 mandatory controls and 10 advisory controls; this implies that we will be further guiding our customers in order to assess the remaining gaps and perform regular checks on banks’ infrastructures to assure their compliance and their security.
It is clear by now that all scheduled events and roadshows have been canceled or suspended until further notice due to the worldwide epidemic spread of COVID-19.
Following the development, testing and piloting of our new products, we held a Roadshow in Cairo - Egypt on December 10th to launch our latest developed applications: gpi-PRO, Payment Control and Monitoring Application, and SmartSMD.
We had the opportunity to meet with our clients in Cairo and demonstrate our latest products addressing their needs. We also provided a brief on the evolution of SWIFT CSCF Program and the 2020 controls. We were met with enthusiasm and eagerness from our clients to learn more about what AEG has to offer. Meeting with our clients was very rewarding and fruitful as we took the opportunity to answer their raised questions and concerns and further discuss with them the future of the industry in the African region.
Under the title “enabling the digital economy”, AEG participated in SWIFT Middle East Regional Conference for the Turkey and MENA region (TMERC) in Istanbul, Turkey. The event had more than 400 participants from more than 15 countries that took place in November 2019.
AEG was present at the event as an exhibitor. Many topics were discussed during this important event, covering gpi Payment Solutions, CSCF Program updates, evolution of the SWIFT Portfolio Timeline as well as ISO 20022 adoption topics.
AEG representatives had the chance to meet with many clients and visitors to discuss many of AEG’s latest top of the line solutions, like AEG CSP-related solutions, AEG Corporate Payment Solution (CPS), in addition to demonstrating AEG’s latest solutions in relation to gpi payments, message dispatching and payment control and monitoring solutions. Our new solutions are always met with high interest from the financial and the banking community participating at the event.
We are pleased to welcome you at our stand X141 during the upcoming Sibos 2019 Conference themed “Thriving in a hyper-connected world” taking place on 23-26 September 2019 at the ExCel in London, United Kingdom.
Looking forward to seeing you there.
We always take the initiative to provide our customers with the best solutions to answer their concerns and address the challenges they are met with. This proactive approach has always been the main driver and guide by which we conduct business.Read More
ان شركتنا تركز كثيرا على متطلبات القطاع المصرفي وخدماته والتطابق مع المقاييس والمعايير العالمية وايجاد الحلول المتطورة والمتخصصة لهذا القطاع، فانطلاقا من ذلك نركز على تطوير البرامج والانظمة و التعاقد مع شركات عالمية ذات شهرة كبيرة في مجال محدد للتعاون معها لتامين الانظمة والخدمات المميزة لزبائنناRead More
A press release by SONEMA
AEG, specialist in SWIFT service environment and banking solutions, wish to enhance the capacity of their African network by strengthening connectivity for their datacentre based in Cyprus. SONEMA, who already operate AEG’s satellite network, was able to propose a hybrid solution tailored to the customer’s requirements.Read More
“AEG has become one of the most extensively SWIFT accredited Service Bureaux with big number of successful implementations at banks, financial institutions and corporate.” “AEG is well known today by its high quality services and exceptional dedication. It helps its clients optimally manage their business via state of the art turnkey solutions...”Read More
هناك مقررات دولية مهمة على جميع المصارف التقيد بها لتتجنب عقوبات كبيرة قد تصل الى حد التوقيف عن العمل. ومن هنا ضرورة مطابقة ومراعاة التطبيقات المصرفية لانظمة مكافحة غسل الاموال وتمويل المنظمات الارهابيةRead More