Can you please help me to understand the difference between SWIFT Interact & Fileact protocol
Difference between SWIFT Interact & Fileact transmissions
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The two products are designed to handle different types of financial processing.
SWIFT Interact is designed for solutions where a real-time gross settlement system is in play, better known by its acronym RTGS. This type of processing is near real-time processing. In the US the FedWIRE for example is an RTGS solution.
The SWIFT Fileact is used for time-insensitive processing, i.e. batch processing. In such a system, financial transactions are queued up and then batch processed at a particular time. For example ACH is a batch processed system.
Though both protocols are handling financial transactions, the difference lies in the processing handling aspect of it.
@venkat
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