Oracle says the move will bridge the "last mile" of integration between financial services providers and customer back-office systems.

The integration will enable businesses to achieve a single source of data - encompassing both financial and information transactions. Oracle says enhancing its applications for procurement, payables, receivables, payments and expenses to utilise the SwiftNet standard format will enable corporations to create a single, integrated processing environment, which will provide a consistent, transparent view of data across the enterprise. In addition corporate treasurers will be able to integrate back-office information with their bank-supplied cash management services.

Steven Miranda, vice president of financials applications development at Oracle, says the move will provide financial services providers with the tools required to expand their role as information providers, while business organisations will have a fast path to enterprise intelligence that provides a foundation for informed decision making.

The Oracle Application Server enables users to receive, translate, transform, audit and track Swift messages and integrate them with corporate information systems, enterprise data hubs and corporate business processes. Companies can also use standard trading partner management facilities to create, monitor and manage agreements with Swift business partners.

Charles Phillips, president, Oracle, will address Sibos participants during the Thursday October 14 plenary session which will focus on strategies to improve bank and corporate transaction processing through integrated logistical and financial supply chains.