Ashim K. Das
Unformatted natural language messages originating as telex messages, constitute a sizable portion of money transfer instructions that are processed by a Bank. MCI’s AMTS Automated Money Transfer Service) provides the international banking community with the latest in automated technology for processing such large volumes of incoming message traffic. AMTS scans incoming messages and sorts out time-critical money transfer orders. In processing these messages, AMTS extracts the unformatted information, using natural language processing techniques, verifies the information it finds and outputs payment instructions to the bank’s system. This approach to message handling can reduce staff time and overhead and increase the overall productivity of back office operations. MCI has installed AMTS service for Irving Trust and Chase Manhattan Bank, two of the major Money Centre Banks in the New York metropolitan area.