Cloudserv has been providing unique financial messaging services to clients for over a decade, enabling them to convert and parse numerous international banking and financial file formats with the minimum of knowledge of the complex rules and variants involved. We are now making public a subset of some of these services as an API.
Using the ExtractMessage API you can parse bank statement data from BAI or MT940/942 file into human friendly a comma separated format that can be easily loaded into a database or opened using a spreadsheet.
With the ConvertMessage API you can convert an ACH IAT file into an ISO 15022 MT101 or ISO 20022 Pain format (coming in V2), or users of legacy Microsoft Biztalk A4SWIFT can covert the proprietary MT101 XML into to standard ISO 15022 MT.
The initial V1 release covers many of the common conversion scenarios our clients ask for. The version 2 release targeted for November will include the ability to extract FileAct payloads (batch) messages are well as additional conversion use cases to ISO 20022 formats, something that is particularly useful for those migrating from legacy formats ahead of the changes coming in 2020.
For more information go to www.cloudservllc.com
With over a decade of supporting global businesses in handling the challenges of dealing with integration and management of diverse financial format data, Cloudserv is now making our financial services API public. Modern businesses often have to handle a diverse number of financial message formats across their accounting and investment activities. With multiple international and domestic standards used by banks and financial institutions there is a perpetual challenge in maintaining integrations to extract and convert between the respective formats, particularly as they change on an annual basis.
While it’s possible to build and maintain a custom code solution to handle these activities it will inevitably cost a significant amount both in terms of money and time. Using an API it’s possible to easily integrate with your existing software solutions or even directly from popular spreadsheet tools such as Excel. The BankConverter API allows you to be up and running processing these different messages in a few minutes - and the basic level provides you with a 100 api calls for free! That’s could be enough API calls to parse your daily cash position statement data into a spreadsheet without having to write a line of code.
The API enables you to identify, convert between, extract, parse or (soon to be released) create various generic and bank specific financial message formats at a predictable and manageable cost. The API currently supports activities such as the extraction of bank statements in BAI and SWIFT MT940/MT942 formats, translation of FILEACT partner files, conversion between SWIFT MT, ACH, PAIN, BAI and ISO 20022 standards, identificaiton of message formats, validation of MT and BAI messages for compliance with standards and shortly will include the creation of MT and ISO 20022 messages using simple spreadsheet templates.
Across the standards there are thousands of different message types and the current API only supports the most common of these that we have seen our customers consistently require. However we are adding more all the time. These are prioritised based on customer demand so if you don’t see a message format or type supported for you use case please contact us.
Our API is hosted using serverless public cloud infrastructure with geographic endpoints and routing. As a consequence we are able to provide the same availalbity service levels as the provider, which in this case is 99.99999999% uptime.
With increasing client concerns and regulatory compliance requirements impacting the financial services industry data compliance is a major consideration in the use of any services. Cloudserv limits it’s monitoring of the API to tracking call usage only and does not retain or store any of the message data. We do not have any databases or storage associated with the BankConveter API.
Like other API’s hosted here you will need to sign up and get a mashape/rapidapi key which you will use to authenticate. You will need a credit card to sign up for the service but at the basic level you will not be charged.
Documentation of each endpoint is contained in the API documentation however due to the nature of the message types only certain conversions or extractions are possible. In certain cases additional information may be required using additional header values. The additional information provided here will aid with clarification of which from and to conversions are required.
|Endpoint||cs-from value||cs-to value||additional parameters|
|v1/ExtractMessage||MT940||JSON,SUMMARYCSV,DETAILCSV||optional values in cs-sender & cs-receiver|
|v1/ExtractMessage||FILEACT||JSON (default if missing)|
|v1/ExtractMessage||FIN||JSON (default if missing)|
Additional message type conversions are currently in testing, including the ability to submit a batch (fileact payload) for conversion. These will be released in version 2.