XSP, the global leader in automated end-to-end Corporate Actions software, announced that the Company's flagship product, the XSP® v5 platform, has achieved the SWIFTReady Corporate Actions Label accreditation for 2010 in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Financial Enterprise Application Integration (EAI) product.
For the sixth consecutive year, XSP has been awarded this prestigious honour, receiving outstanding recognition/marks for the quality of the application. The SWIFTReady programme grants label accreditation to business applications that adhere to a specific set of criteria linked to the support of SWIFT FIN messages, connectivity and functionality. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT's evolution and client requirements.
The XSP v5 platform is the state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. A Microsoft Gold Certified Partner, XSP has engineered its platform using advanced Microsoft technologies. Deployed locally or 'In the Cloud', the XSP v5 platform is built around a service-oriented architecture (SOA), utilising Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, the XSP v5 platform is SWIFT 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).
Hervé Valentin, Senior Business Development Manager, SWIFT, said, "We are delighted to award XSP with the SWIFTReady Corporate Actions Label for the sixth consecutive year. Each year, the criteria mandated by SWIFT to achieve accreditation in this programme becomes more and more stringent as the complexity of Corporate Action events continues to rise. Having scored exceptional marks for compliance to Market Practices, XSP's outstanding performance in this rigorous validation process demonstrates their ongoing commitment to meet the ever-changing requirements of their global clients and the advancements in industry standards, including the plans for ISO 20022 adoption. As SWIFT's Corporate Actions partner with more than 30 clients on the SWIFT network, we continue to work closely with XSP to bring automation and innovation to the global financial community with the objective of promoting greater STP and streamlining operations."
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 return on investment 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 the importance of collaborating with technology partners such as XSP to help global financial institutions maximise operational efficiencies," said Colin Kerr, Worldwide Industry Manager, Payments and Core Banking at Microsoft. "The XSP v5 solution integrated with Microsoft BizTalk Accelerator for SWIFT provides a comprehensive, reliable and cost-effective financial messaging platform using the SWIFT format and network. With the growing complexity of events and continuous changes in industry standards, this accreditation demonstrates XSP's commitment to develop innovative solutions that integrate efficiently within a SWIFT environment and improve STP for the benefit of the financial community."
Paul Fullam, Senior Director, Business Strategy at XSP and Co-Chair of ISITC Corporate Actions Working Group, said, "Once again XSP's achievement in earning the 2010 SWIFTReady Corporate Actions Label demonstrates our ongoing support of SWIFT's standards and best market practices in global Corporate Actions processing. XSP invests significantly to ensure compliance to the highest standards that promote greater STP whilst reducing risks and costs. In conjunction with the Microsoft BizTalk Accelerator for SWIFT, the XSP v5 platform offers a flexible and integrated solution to support SWIFT messages and connectivity for Corporate Actions. We are delighted to be recognised for not only meeting - but also exceeding - the criteria for the SWIFTReady label."