SeeBeyond and Teconomic partner for data integration and exception processing
12 October 2004 | 1312 views | 0
SeeBeyond (Nasdaq:SBYN), provider of the world's first fully integrated composite application network (SeeBeyond Ican) for advanced integration and composite application solutions, today announced an extension to its partnership with Teconomic AG to provide comprehensive solutions to the financial services industry as a part of its newly announced service offering, the SeeBeyond Financial Services SOA (SeeBeyond FS-SOA).
As a part of the agreement, SeeBeyond and Teconomic will develop joint service offerings leveraging the service-oriented architecture (SOA) of the SeeBeyond Integrated Composite Application Network (SeeBeyond ICAN) Suite. With the SeeBeyond FS-SOA service offering, the two companies will target areas such as financial market data integration, corporate action notification golden record matching, and SWIFT message exception handling. Service templates to be provided by the partnership include: VDF Enablement - Telekurs Financial Market Data Integration.
The VDF Enablement solution resolves the complexity in mapping and relating Valordata Feeds (VDF) into a central ISO15022 message format for further processing. In a step-by-step approach, the VDF integration solution enables customers to take full advantage of the complete functionality of VDF. These advantages include VDF's high information quality and content, as well as the highly-structured format of the messages which allows Straight-Through Processing (STP - fully automatic processing without manual steps) of VDF messages.
Golden Corporate Action Notification Matching.
The Golden Record Corporate Action Notification matching service allows the combination of various sources which are internally normalized into a common standard based on ISO15022. The golden record is generated as a fully-validated and quality-assured message with possible restrictions based on matching results. For risk reduction purposes, the golden copy is linked back to all corporate action sources.
SWIFT Message Viewer.
The SWIFT Viewer parses raw SWIFT messages into a user friendly format and displays them in an easy-to-use viewer. The SWIFT Viewer includes an online SWIFT Qualifier Dictionary which is used to convert SWIFT segments, tags and qualifiers to an easily understandable form.
"After conducting an extensive search for a flexible infrastructure to serve as the integration foundation for financial applications, we found SeeBeyond's ICAN 5 Suite to be a perfect fit for our requirements," says Rudolf Gunz, CEO of Teconomic. "Based on its advanced, proven integration and composite application development capabilities, SeeBeyond ICAN 5 enables Teconomic to deliver leading ready-to-go solutions for financial institutions today—saving time and resources while improving customer satisfaction."
"In the financial services arena today, powerful competitive advantage and significant cost reductions can be achieved through the implementation of a unified service-oriented architecture," adds Larry Scott, Vice President, Global Financial Services for SeeBeyond. "We see the SeeBeyond FS-SOA and our partnership with industry specialist Teconomic as providing the platform for next-generation composite applications for financial services in a way that is unique in the market today."