Sterci France, subsidiary of the international leader in financial messaging, global reconciliation and financial data management is pleased to announce that Covéa Finance, the asset management company responsible for the portfolios of assurance groups MAAF, MMA and GMF, has selected Sterci's GTFrame product to transform and route its financial message flows.
GTFrame has been successfully handling Settlement Delivery Instruction messages (SWIFT format) exchanged between Covéa Finance (Decalog) and its custodians since 2009 and is now being extended to cover the distribution via web services of data between the GTData financial data respository and Covéa Finance backend applications.
Franck IBALOT, Covéa Finance's Director of Administration and Head of Risk Control comments « Since 2009 we have been effortlessly using GTFrame for automatic message exchange with our depositories and we consider the ability to seamlessly integrate or generate a new message flow as one of this tool's key strengths. The power of the GTFrame transformation connectors had led us to spread its application across other business domains."
Philippe Modai, Managing Director of Sterci France adds "We are delighted that Covéa Finance has extended GTFrame's use to new requirements, thereby considerably increasing its ROI. GTFrame can be further extended in the future by incorporating domains such as Investment Fund messages, placing GTFrame in a significant position of strength, given SWIFT's confirmation of a mandatory Funds orders XML migration deadline for Q4 2015. From this date, existing Investment Funds MT message templates will be replaced by new MX Funds messages based on the ISO20022 standard. This migration entails incentives in the form of price reductions for early adopters and more critically disincentives through a combination of traffic fee increases for those delaying the migration. Sterci's GTFrame alleviates the migration headache as it already incorporates ISO20022 libraries and associated validation rules as well as ready to use translation rules from ISO15022 to ISO20022.