XSP, the leading global provider of Corporate Actions software, announced today at Sibos 2008 that the company's flagship product, XSP v5 platform, has achieved the SwiftReady Corporate Actions Label accreditation for 2008 in conjunction with Microsoft BizTalk Accelerator for Swift, the SwiftReady Financial Enterprise Application Integration (EAI) product.
This is the fourth consecutive year that XSP has received this prestigious award from SWIFT.
SWIFT validates and recognises the capabilities of the XSP v5 platform and certifies its compliance with best market practices in Corporate Actions processing by awarding XSP with the SWIFTReady Label. SWIFTReady providers participating in this programme must adhere to a stringent set of published criteria linked to the support of SWIFT messages, connectivity and functionality. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT's evolution and customer requirements.
The XSP v5 platform is XSP's latest state-of-the-art solution developed to automate each step of Corporate Actions processing. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilising Microsoft .NET components and Web services for global enterprise-wide processing. A SWIFTReady-labelled application, the XSP v5 platform is SWIFT ISO 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).
Herv� Valentin, Partner Management and Business Development Manager, SWIFT, said, "Once again, SWIFT is pleased to award XSP with the SWIFTReady Corporate Actions Label for the XSP v5 application. With SWIFT's new partnership model focused on increasing customer centricity, we are eager to work even closer with XSP to deliver value propositions that benefit SWIFT clients. In achieving our SWIFTReady certification, they clearly demonstrate their commitment to the Corporate Actions processing space. We look forward to continue working with XSP to leverage their area of expertise and provide our joint customers with valuable business solutions."
Microsoft's BizTalk Accelerator for SWIFT enables clients to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping to deliver rapid ROI by reducing the complexity of bilateral communications between institutions. This SWIFT EAI Label application also provides clients with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.
"Microsoft values relationships with strong solution partners such as XSP that can help global financial institutions streamline their operations and improve efficiency by increasing STP," says Sheida Hadji-Ashrafi, Worldwide Industry Manager, Payments, Microsoft. "With the integration of the XSP v5 solution and Microsoft BizTalk Accelerator for SWIFT, clients have a reliable and cost-effective platform for ISO 15022 messaging in the processing of Corporate Actions. The accreditation of the SWIFTReady Corporate Actions Label recognises XSP's efforts in this complex area and, when deployed in conjunction with BizTalk Accelerator for SWIFT, will lead to reduced SWIFT implementation effort."
"XSP remains at the forefront of offering sophisticated products and services that also allow for a simplified and streamlined deployment," said Dan Retzer, Managing Director and Chief Technology Officer, XSP. "By leveraging Microsoft BizTalk Accelerator for SWIFT, XSP clients can benefit from an integrated messaging platform to support all SWIFT messages and connectivity."
Neil Sheppard, Managing Director and Chief Operating Officer of EMEA, XSP, said "We are delighted that SWIFT has awarded XSP with the 2008 SWIFTReady Corporate Actions Label. Our involvement in industry groups, such as co-chairing the ISITC Corporate Actions Working Group, helps us to make continued progress and fulfil the ever-changing requirements of the Corporate Actions marketplace. This re-certification underscores our dedication to our global client base and validates our commitment to state-of-the-art products and technologies."