Version 5.0 of SMARAGD TCM is available

Stuttgart, October 22nd, 2019 – In times of ongoing digitization financial crime constantly evolves. This poses a serious threat to society as well as the national and international financial systems. Thanks to the use of modern technology users of SMARAGD TCM can always see which risks occur during transactions, recognize them early and avoid them in the long run. Now, a new release has come out that contains lots of interesting novelties.

With the release 5 the SMARAGD TCM Client was adjusted to a new browser-based technology and matches the latest requirements for a modern workplace. The adjustment was used to entirely re-arrange the GUI and further improve the usage. Focus was set on the fact that all functionalities are available as usual. Only a web browser is mandatory on the workplace computer. A JAVA installation is no longer necessary. All browsers are supported in their current versions.

Instant Payments
A central topic of this release is Instant Payments, because with its market introduction new requirements for SMARAGD TCM came about. Since Instant Payments transactions are ISO20022 based payment messages, the actual sanction check is also possible with older releases easily. The challenge is to reach increased system availability. The most important factor is that the sanction check of Instant Payment transfers has to give a correct and quick answer to the retrieving payment transfer system. In order to fulfill this requirement the sanction check was extended by a resilience mode. Quick response times, sanction check without database and interruption-free release change during migration are thereby possible. An essential component of the resilience mode is that SMARAGD TCM is run in a multi-server architecture and the check server is configures as a cluster.

EU-General Data Protection Regulation
Another important topic is the implementation of the EU-GDPR. During its introduction the requirements for archiving and database deletion of alerts within SMARAGD TCM were extended and refined. Alerts for which the retention period has run out, e.g., can be exported out of the system and then deleted in SMARAGD TCM at any time. Via legal holds lists, exceptions can be defined. Legal holds are customers or alerts that should remain inside the system for functional reasons. With the help of detention entities lists, alerts can explicitly and directly be deleted from SMARAGD TCM.

Ready for ISO 20022
With ISO 20022 a new message standard was developed that covers plenty of segments in the financial business, unifies the communication between the financial institutes and makes it easier. The entire catalogue comprises 500 different message formats that can generally be used. In the payments transfer landscape the old proprietary formats will gradually be replaced by ISO 20022 message formats. New procedures such as Instant Payments expand on these new technologies. SMARAGD TCM is well-prepared for this change. targens has chosen an iterative approach in which the broad catalog is divided into specialist application fields. A procedure was implemented in which new message formats can be turned into software solutions quickly. Thereby, current and future payment transfer topics can be supported quickly in SMARAGD TCM.