C24 Technologies, a world leader in financial services messaging and integration solutions, today announced the latest release of the C24 Integration Objects SwiftNet FIN Standards Library, updated for Swift Standards MT Release 2014.
"The changes required this year for SWIFT SR 2014 message compliance are significant. Now is the time for companies to modernize their messaging systems as the productivity tools will quickly pay for themselves"
By deploying C24 Integration Objects (C24-iO), financial organizations can significantly reduce the occurrence of failed messages, accelerate time to market, ensure ongoing compliance with new and updated financial standards, and ultimately improve development and operational efficiencies. With this new release, C24 continues to provide complete support for yearly SWIFT Standards Release changes well in advance of the November mandatory compliance date.
Available as a free upgrade for existing C24 SWIFT customers, the product and reference implementations can be immediately downloaded at www.c24.biz/downloads to jumpstart SWIFT Standards Release 2014 (SR 2014) projects.
C24 also provides a free online SWIFT message testing service for the financial services developer community at www.c24.biz/mds to help firms assess the impact of SR 2014 to their business.
The SWIFT changes to SR 2014 this year are significant across payments, securities and treasury B2B communications - over 260 changes impacting fifty SWIFT MT messages. Financial firms who do not use productivity software tools face massive development and test costs as they implement mandatory changes required by November 16, 2014.
C24 Integration Objects is a standards-based Integrated Development Environment (IDE) and run-time that extends Java integration frameworks with data modeling, metadata management, message transformation and semantic validation for any data format including XML, CSV, Excel, Cobol and financial standards including SWIFT, ISO 20022, SEPA, FpML, and FIX. The product fully integrates with Spring, MongoDB, ESB, grid, caching and cloud technologies.
"The changes required this year for SWIFT SR 2014 message compliance are significant. Now is the time for companies to modernize their messaging systems as the productivity tools will quickly pay for themselves," said Wayne Meikle, Commercial Director, C24 Technologies. "C24 is the first and only company today providing comprehensive SWIFT message modeling, integration and testing services for SR 2014. Our customers have reported delivering projects to market twice as fast using C24 Integration Objects, while lowering messaging costs by 50%."