Benefit #3: Special Characters

So the deal is: Banks will be able to use some special characters in some fields of MX messages. Below is the snapshot of those characters, which are NOT usable in MT world, but is now available in MX.

Which all fields are these allowed? Bank can use these special characters in the below fields:A) All party Name and Address elementsB) The Related Remittance Information elementC) The Remittance Information elementD) Email Address (under Proxy Elements)E) City Of Birth & Province Of Birth elements (under Private Identification).

As we already know now, this cannot happen in MT, so yeah, this is an advantage but quite debatable as to how BIG it is. A benefit, nonetheless.

In order to fully use this, there might be certain enhancements need in the internal back-end systems as well. For example: A Bank, which wants to send these special characters, MUST ALSO be capable of storing AND accepting it in their other systems (for example: CRM). Similarly, a Bank, which receive such Inwards with special characters, MUST ALSO be capable of storing and accepting it in their other systems (for example: Data Warehouse or Reconciliation Application).