Fibi Bank implements SunGard's Mint to manage move to SwiftNet Fin
07 May 2003 | 4229 views | 0
Fibi Bank, a subsidiary of the First International Bank of Israel, has deployed SunGard Business Integration's Mint Swift software to manage its migration to the new FIN services on the SwiftNet IP network.
The bank will use the platform to move from Swift's X.25 network and to support Fin services on SwiftNet. The middleware will also be used to consolidate the bank's operations and support structure in order to improve straight-through processing (STP).
A spokesperson for Fibi Bank says a consolidated operations approach extends the SwiftNet 'single window' idea into the internal business environment and provides all users with a single view of network operations.
The bank also uses SunGard's Mint Knowledge Broker technology.
SunGard says the software delivers an infrastructure that will help the bank with future changes, as SwiftNet requirements develop to support other services.
All existing Fin customers have to migrate to SwiftNet by the end of 2004, when access via X.25 will no longer be supported. SunGard says the mandatory migration has served as a trigger for many financial institutions to re-evaluate and simplify their network operations architecture.