VRepair
 Repair is an automated in-flow message repair and enrichment tool.
It has the capability to enrich and repair messages as they are passed through a payment processing system. Messages which would normally be sent to an operator for manual repair are automatically repaired, removing the cost of the manual intervention and improving the speed with which the message is processed.
What does Repair do?
- Repair takes the non-STP message and examines the content with a view to determining what can be done to make it STP compliant. This process includes removing irrelevant data, generating financial identifiers and identifying the source and destination institutions in terms of verified account numbers.
- Repair may be used for incoming and outgoing messages. Whilst its principal use is on the incoming message (where it may generate revenue from identifying back-charges as well as reducing costs by enhancing STP) it can also be applied effectively on outgoing messages. This is of particular benefit for transactions within the same institution, where back-charging (if it exists at all) is an expensive administrative exercise.
A major advantage of Repair is the ability to process free-text. The nature of the software allows the application to determine what the originator intended to say, even though that is not what actually appeared in the message!
Recognition of institutions and such like within free-text is achieved using algorithms based on the Binding Pattern Matching technology.
Where Repair cannot safely repair a message it can direct the message to an operator and present possible solutions. Where this exposes repeating patters a modification can be proposed in order that future messages are repaired automatically and the STP rate is improved.
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