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Virtual Participant: Take Industry Testing for FMIs to an unprecedented Level

Extend your clearing and settlement ecosystem with our test counterpart available 24/7

The Unifits Virtual Participant is available 24/7 to any real participant in the test environment of a given market infrastructure and acts as their test partner. Either controlled by parameterized messages or through an intuitive graphical user interface, the VIP can effortlessly create and send any message thus greatly simplifying industry testing for FMIs.

Unifits effortlessly extends FMIs with Test Automation for both the central infrastructure and the connected participants.

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What the Virtual Participant does for FMIs

The use of validation portals to ensure that messages are properly structured is now widespread. This facilitates initial outbound message testing for participants while connecting to a clearing infrastructure. However, as soon as there is a need to simulate incoming messages or a participant’s system is connected to the clearing test infrastructure and interoperability testing starts, a pure validation portal is no longer the right tool.
This is exactly where the virtual participant comes in! The VIP is available to every real participant as a test counterpart to receive, process, generate and send any type of payment message. This helps participants enormously, especially in inbound testing, as there are no longer any dependencies on other participants’ ability to send.

Problems solved & benefits

participants can independently test all outbound and inbound message flows
no alignment with any third party required
not bound to fixed times
no extra effort, as the existing test infrastructure is used
easy to use, no training required
full transparency about the industry testing progress

the real participant (Debtor Agent, under test) send an initial payment message pacs.008, the virtual participant responds with a pacs.002
the real participant initiates a return request and the virtual participant responds with a corresponding camt.029
the virtual participant then creates and sends the payment return pacs.004 and the real participant is required to answer with a final pacs.002

The real participant (Creditor Agent, under test) initiates the desired test process either via a parametrized trigger message or via an easy-to-use user interface.

the virtual participant create and send a payment message pacs.008, real participant (Creditor Agent, under test) is required to respond with a pacs.002
after a configurable preset time, the virtual participant creates and send the return request message (camt.056), the real participant is required to respond with a camt.029
then the real participant needs to create and send the payment return pacs.004. Then the virtual participant will respond with a corresponding pacs.002

Bank Onboarding
Platform (BOP)

Easily accessible and user-friendly portal for unattended Participant testing with a focus on MESSAGE FORMATS.

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Virtual Participant
(VIP)

Automated and autonomous integration testing for Participants with a focus on INTEROPERABILITY AND MESSAGE FLOWS.

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Test
Engine

Automated and independent testing for the clearing and settlement system itself.

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Would you like to learn more about testing of ISO 20022 based systems? Let’s get in touch.