Friday, 27 August 2010 10:07

Software AG Awarded SWIFTReady Financial EAI Label for 2010

By Software AG

Software AG today announced that it has been awarded SWIFTReady Financial EAI label for 2010 from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), SWIFT's highest level of certification for interoperability. This is the eighth year in a row that Software AG has received this certification.

Financial institutions around the world conduct critical business activities that require financial data communications and processing services with various third parties and need a flexible, adaptable and secure network to exchange information. With a certified SWIFT solution, Software AG is able to deliver to financial institutions integration and connectivity between their existing systems and the SWIFT network, allowing them to optimise business activities such as payments, securities, treasury, and trade services.

With current SWIFT solutions, companies struggle to integrate their back office applications with their banking operations. Companies have to rely upon fragile integration solutions or existing technologies that do not give the visibility and flexibility needed.

"With a SWIFTReady certification, Software AG is able to demonstrate that we are going the extra mile to deliver quality solutions," said Ivo Totev, member of the Executive Board, Software AG. "It's our commitment to helping our financial services customers since so many rely upon SWIFT to exchange vital financial information securely and reliably."

"In addition, our SWIFT solutions support our financial services customers' SWIFT-initiatives like Exception and Investigation to help them pinpoint where issues happen in payment processing. Instead of having to call around and contact each of the banks in a transaction, our integration, in conjunction with the SWIFT Network's capabilities, can help investigate the reason for broken payments quite easily," he said.

Software AG serves financial services institutions globally with webMethods SWIFT solutions. These certified solutions provide:

  • An integrated platform to connect SWIFT transactions directly with business systems
  • Support for SWIFT's messaging services including SWIFTNet FIN, Fileact and Interact Services to connect directly to the SWIFT network and a path to move away from disconnected SWIFT solutions
  • The ability to connect any organisation, including non-banks, to the SWIFT Network with SWIFT for Corporates solution

"Our solutions enable our financial services customers to comply with new industry regulations, manage risk, lower costs and increase flexibility for interbank processes in the payments and securities area," Totev added.

SWIFT initiated the SWIFTReady label program over 10 years ago to certify third party applications and middleware products that support SWIFT messaging systems and standards and that integrate with SWIFTNet through Alliance interfaces.

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