Design And Implementation Of Cross-Border RMB Remittance System

In recent years, with the consecutively introduction of all kinds of policies for the cross-border RMB businesses, the scope of the RMB cross-border businesses have been enlarged unceasingly, and the business volumes have begun to take shape, and the requirements for payment and settlement standardized services have been increasingly improved. In order to meet the increasingly improved RMB cross-border payment and settlement service of the commercial banks, and to build fair competitive market environment,and to promote the RMB internationalization development strategy, the People's Bank of China decides to organize and development RMB cross-border payment system(CIPS). As the direct participator of the CIPS, the bank needs to make the research and development of system access and related businesses processing functions.In the cross-border remittance businesses, the financial enterprises have their own corresponding background system and the transaction function to support its businesses handling, as the commercial banks, now exists a set cross-border remittance system that is designed and developed on the basis of SWIFT(Global interbank financial telecommunications association) message standard, and owns the operation of entering,rechecking, authorizing of the remittance message, after the message background system clearing and the message depacketize to send to SWIFT web. And the CIPS(Phase I)construction, for the purpose of the system participator enters the RMB cross-border payment system, and to reduce the complexity of the message transference, RMB cross-border payment system adds message transfer standards and adopts partial ISO20022 message standards as the message of RMB cross-border payment system, and refers to ISO20022 standard to develop the other message, and all messages adopt XML format for description.Of which, for the adopted ISO20022 standard message, according to the actual situations of RMB cross-border payment system to make necessary format constraint. When the inter system of the bank sends message to the RMB cross-border payment system, it shall check the will be sent nostro account message by XML Schema for format checking, after passing the examination, which shall be submit to the participator access software. Bank system joins to the CIPS system, needs to analyze the rebuilding of the remittance system, how to reuse the existing transaction process and function, and the minimum workload integration that is basedon the realization of SWIFT message standard cross-border remittance system and CIPS message standard system.By comparing the related elements of the remittance message in the SWIFT message standard, and the remittance message elements in the CIPS message standard, and combines the MT and CIPS message transference recommended rules and the column using guides in the businesses needs, and the necessary core elements of the remittance businesses, and the analysis could base on the bank existing cross-border remittance transaction for transformation, and to unify the cross-border RMB businesses processing transaction interface and the processing flow. By reusing the existing cross-border businesses transaction interface, according to SWIFT and CIPS message standard custom interface elements format and the binding relationship to keep the elements of the remittance businesses, removes the original interface that needs the staff record the system background clearing processing elements, and the system background shall dispose automatically by certain rules instead, or submit to the background system related professional post staff to make manual collection processing; and for the access of the remittance businesses information, reuse the existing businesses related form design, and for the information that could not compatible with the new standard, we adopt differentiation table structure for storage and read and write processing, which shall also be sealed by the related data processing layer, and to isolate the data storage and businesses processing logistics effectively.Using the related transactions of the remittance system to complete the cross-border RMB businesses, only needs to pay attention to the remittance elements which are needed by the remittance, and we needs not to pay attention to the related message standards. The remittance system supports the related processing of remittance recording, rechecking,authorizing, collection and payment, and to handle business listing query, transaction information and voucher printing, remittance information inquiry, etc., functions; and the front desk business counter to complete the recording and the processing of the related elements, and transmit the related information to the background system for processing, and the clearing of the background system could freely choose the remittance way according to the situation of the due bank, and according to the choosing remittance way to decide to use which kind of payment system, and according to the related system message standard to organize the message and to perform the related functions of message norms and compliance reviews, etc..The realization of the integration of the cross-border RMB remittance system, to realize the bank intra system to integrate the RMB cross-border businesses processing flow and the unity of the business processing, and to solve the problems of the staffs face sets of payment system that needs them to be familiar with all kinds of norms and requirements, and they need not to switch each set of remittance system back and forth.