17 August 2017
Find out more

Sterci gets SwiftReady funds 2010

19 May 2010  |  2418 views  |  0 Source: Sterci

Sterci, the leading international software provider of SOA solutions for STP, today announced that Swift has renewed Steform with the highest award label for funds for the sixth consecutive year.

Steform version 3.3 is SWIFTReady funds 2010; it means the SWIFT compliance recognition provides a comprehensive automation for Funds using new SWIFTNet XML ISO 20022 messaging standards.

One of the key challenges for the fund industry is automation, especially in cross-border distribution.

In 2001, the fund industry asked SWIFT for a solution to increase automation to reduce paper processing and risks involved. SWIFT applied a two-phase approach: Phase 1: delivery of a tactical solution based on MT (ISO 15022 fund templates) to cover the most urgent needs in 2001 Phase 2: delivery of a strategic solution based on MX (ISO 20022 fund messages) to fully comply with the industry's requirements in 2004

Both solutions are actively used and still growing. In 2009, over 27 million messages were sent.

Today, it is time to start the migration project to MX as the MT templates will be phased out in 2012. Now MT-MX translation rules are published by SWIFT and available as libraries in the Steform product.

Etienne Savatier, associate director of Sterci, said: "Sterci is a pioneer in MT-MX migration both for payments and securities. In securities, we were involved since the initial launch of SWIFTNet Funds in 2004 with early adopters in Luxembourg. In payments, Sterci technology has been used by leading transaction banks for the SEPA launch in 2008. Today, Steform is the best proven solution for MT-MX migration and interoperability".

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10351 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9735 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9625 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8556 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8038 views comments | 1 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job