Every year, SWIFT awards a number of labels, designed to provide its members with quality criteria to assist them in the choice of software solutions. To be awarded a label, the software must comply with a standardised list of rules. The list is updated every year and the software systems are required to have an annual reassessment.

By recognizing Trax with the renewal of all labels applied for, SWIFT (the Society for Worldwide Interbank Financial Telecommunication) has validated the product suite's support for the XML-based and interactive services available via SWIFTNet, and the associated workflows; and its proven and pronounced support for SWIFTNet connectivity. Today, nearly 8000 financial institutions in more than 200 countries use the SWIFT network to process their messages.

"Trax has established itself as a committed partner to SWIFT and has once more demonstrated its ability to meet the latest standards offered by SWIFT. We particularly appreciate the way Trax has been able to help our customers adopt SWIFTSolutions in a flexible and cost effective manner," said Catherine Banneux, Senior Product Manager, SWIFT.

Hans Cobben, CEO of Trax, commented, "Trax has a strong track record when it comes the early adoption of innovative industry trends, such as the SWIFTSolutions for Cash Reporting and for Exceptions & Investigations. We are pleased to have been awarded the SWIFTNet Ready accreditation for the third consecutive year, underlining our commitment to providing the industry with best-of-breed payment and reporting solutions."