Sterci gets Swiftready 2011 label for funds

Source: Sterci

Sterci, the international leader in the development of SOA solutions for STP, is proud to announce that for seven consecutive years now, they have passed the SwiftReady for Funds certification with Steform version 4.1.

Sterci STP solutions are used by 250 customers across 20 countries including the SIMPLEX service bureau in London.

SWIFT for Funds provides a means of standardising and automating the following business flows: account opening and maintenance, order status, order cancellation / confirmation, transfers, holding / transaction statements, price reporting, cash flow, commissions and static prospectus data.

STEFORM facilitates the adoption of new XML ISO 20022 standards for Funds as well as for SEPA through the provision of MT-MX translation rules. STEFORM can be implemented as an in-house solution both for banks and non banking financial institutions. It can also be operated in Software as a Service mode via the Sterci/Simplex Global Transaction Platform GTP.

The SWIFTReady programme incorporates stringent SWIFT specific criteria, which are reviewed annually. Companies meeting these criteria are awarded a SWIFTReady label. This label guides customers in their selection of a supplier and provides a guarantee that the product or service meets the highest levels of quality.

Etienne Savatier, associate director of Sterci, commented:"Today the funds industry is faced with multiple standards over multiple networks, signifying heavy manual processing and high risk exposure. Sterci/Simplex Global Transaction Platform represents a premium solution for implementing STP messaging flows from business applications to financial networks, and for risk mitigation through accurate reconciliation and exception management."

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