LogicaCMG, a leading IT services company, today announces that FASTWIRE Open, the next generation of its FASTWIRE package, will be ready for delivery in 2007. This adds further value to the company's existing offerings, which support high volume SWIFTNet FIN, InterAct, FileAct and non-SWIFT messaging.
LogicaCMG is on track to convert all of its SWIFTNet messaging customers to SWIFTNet phase II during 2007-8.
FASTWIRE Open will use open systems technologies to provide a high performance messaging solution for major banks and financial institutions in high volume, high complexity applications such as regional messaging hubs and clearing and settlement utilities. The first component of FASTWIRE Open is LogicaCMG's new standalone Relationship Management Application (RMA) which will make it easier for customers to manage their correspondents relationships and maintain optimum levels of security at all times.
FASTWIRE Open and LogicaCMG's RMA are compliant with the LogicaCMG Intelligent Switch Architecture (LISA) which is the reference model for all of LogicaCMG's future financial messaging products.
Jerry Norton, director of strategy, global financial services, LogicaCMG, comments: "LogicaCMG's track record in financial messaging and SWIFT extends over 30 years during which time we have implemented high end SWIFT interfaces and other complex payments, settlement and messaging solutions at most of the world's top banks and financial institutions. FASTWIRE Open can run stand alone or in conjunction with our LogicaCMG All Payments Systems offering for a complete messaging and payments solution."