Mercator introduces SwiftNet migration package

Mercator introduces SwiftNet migration package

Middleware vendor Mercator Software has put together a SwiftNet migration package for banks moving to the new IP-based interbank messaging network.

Approximately 7000 financial institutions are expected to migrate from the current Swift X.25 messaging service to the SwiftNet FIN network by end-2004.

Mercator says its InsideSwift solutions enable out-of-the-box, rapid deployment for customers that need to make the conversion deadline. The package provides a core architecture for management of critical business services, including SwiftNet FIN, FIX, and Omgeo, as well as integration with back-office application environments.

Mercator is pitching InsideSwift at the large installed base of banks using the IBM Merva interface device to connect to the Swift network. The software can be applied either to ease the Merva upgrade, or as part of a phased migration from the IBM platform using the out-of-the-box connectivity of the InsideSwift package

Thracy Varvoglis, senior vice president, industry solutions, Mercator, says: "Our Swift integration products are used by more than 130 customers, who are processing more than $100 billion of risk-bearing Swift messages every day through our software. We have the experience and technology to help customers manage this complex migration."

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