Informatica Corporation (NASDAQ: INFA), the world's number one independent leader in data integration software, today announced that the Shenzhen Stock Exchange Information Company (SSEI), a wholly-owned subsidiary of the Shenzhen Stock Exchange (SSE), has implemented the Informatica Platform as the data integration and data exchange backbone of its Swift (Society for Worldwide Interbank Financial Telecommunication) application infrastructure.
By eliminating SWIFT's information exchange bottlenecks, the Informatica solution -- including Informatica PowerCenter and Informatica B2B Data Exchange software -- has played a critical role in helping the SSEI reduce corporate action processing time from two weeks to two days, decrease labor costs and exposure to risk, and create a foundation for business expansion and internationalization.
"Through Informatica PowerCenter and B2B Data Exchange, SSEI has greatly improved its competitive edge and laid a sound foundation for internationalization," said Fu Dewei, director and deputy general manager, SSEI. "The Informatica Platform was selected based on its extensive support of diverse data formats, business and data management capabilities, and outstanding data quality-assured data exchange capability. SWIFT information exchange is just the first step of our implementation, and we are looking forward to further collaboration with Informatica across other applications including XBRL."
SWIFT operates a global information exchange network between financial services institutions. The SSEI is responsible for extracting unstructured data from PDF and .doc documents of listed companies, converting the data into SWIFT information in compliance with the SWIFT protocol, and handing over the SWIFT information to Shenzhen Stock Exchange. The Informatica solution has replaced the organization's previous time-consuming and error-prone manual data collection and input process with a reliable data conversion mechanism and fully automated data processing flow that avoids processing bottlenecks and facilitates business expansion.
With the ability to automatically access and convert complex data from almost any source and in nearly any form, including legacy applications; structured and complex unstructured and semi-structured content, and beyond, Informatica's technology has helped SSEI reduce the risks of fines and lost revenues associated with errors in SWWIFT messaging. It has also helped dramatically reduce the labor costs and time associated with manual data collection and input, even as the volume and complexity of the data to be handled continues to increase. In addition, the Informatica solution ensures that SSEI remains automatically current with the latest SWIFT messaging standards, while Informatica's codeless, drag-and-drop development environment enables rapid and cost-effective response to changing market demands.
"The SSEI's use of Informatica underscores the importance of an automated platform approach to data integration and B2B data exchange in addressing the challenges around SWIFT," said Girish Pancha, general manager, Data Integration, Informatica. "The Informatica Platform has a proven track record of helping financial services institutions comply with SWIFT for more effective and reliable communications with partners on a global scale. This includes accessing data, both inside and outside the enterprise, cost-effectively converting structured and unstructured data to SWIFT, efficiently integrating SWIFT messages with back-office applications, reliably processing massive volumes of real-time information, and ensuring data quality."