Swissrisk Financial Systems, European Software Specialists, announced today that its Financial Messaging and Workflow solution, X-Gen, has been certified with its eleventh consecutive SwiftReady Financial EAI label.
The SWIFTReady Financial EAI label was first awarded in 1999 to Swissrisk. The successful renewal of this label demonstrates Swissrisk's ongoing commitment to provide fully SWIFT compliant solutions to the financial industry.
Every year, SWIFT awards product certification labels in order to provide its members with quality criteria to assist them in the choice of software solutions. To be awarded a label, the software must fulfil and comply with a set of criteria which reflect its capability to provide message processing automation in the SWIFT context. The requirements are updated every year, and providers' solutions have to undergo the annual SWIFT assessments.
Dirk Vesper, Swissrisk's Head of X-Gen Product Development, remarked, "X-Gen allows clients to rapidly enable business applications for new SWIFT standards and initiatives. In these days time to market is key to address market, compliance and regulatory requirements and specific client service levels."
X-Gen supports all ISO 20022 MX rules across all business solutions (e.g. SEPA, Funds, Exceptions & Investigations, Cash Reporting). Furthermore X-Gen is already full SOA and WEB Services compliant, and supports other non-SWIFT standards within the financial industry, including FIX, EMX, and Telekurs.
X-Gen is used as the central SWIFT and message Hub for all kinds of messaging formats within financial institutions. X-Gen customers have leveraged their existing infrastructure by implementing X-Gen, where all new or revised SWIFT standards are automatically incorporated in every new X-Gen product upgrade and release.
X-Gen can also be deployed as a central framework to integrate customized applications into the existing IT standard application environment. X-Gen is expressly designed to improve STP across applications, using advanced, visually-based Workflow to mediate changes in business processes and to streamline exception handling.