Logica, a leading business and technology service company, today announced that it is partnering with Tibco to bring to market a new financial messaging solution based on Fastwire Open, its network independent messaging platform.
The partnership addresses the needs of large financial institutions with multiple existing SWIFT interfaces that handle high volumes of messages and are currently burdened with disparate legacy systems.
Tim Brew, market development director for Logica's Global Products Business, said: "Large financial institutions have to not only process increasing messaging volumes but also bring down the cost per message. Our partnership with TIBCO will provide our customers with the best of both worlds. Our joint solution can process over five million messages per day on a single hub, significantly reducing the banks' costs. At the same time, it enables global banks to consolidate multiple legacy systems into a modern and flexible architecture that caters for their future business growth."
This partnership combines Logica's FASTWIRE Open hub with TIBCO's business integration and messaging middleware technology, TIBCO ActiveMatrix BusinessWorks™, and TIBCO Enterprise Message Service™. The new solution is easy to integrate with existing back office systems and is highly scalable, capable of handling over five million SWIFTNet FIN MT or MX messages per day. It offers value-added services such as comprehensive transaction auditing, monitoring, and reporting capabilities.
Fabio Pulidori, Senior Vice President, EMEA, TIBCO Software, said: "We are pleased to partner with Logica and bring to market this innovative proposition. Our existing customers, including some of the world's biggest financial institutions, will now be able to benefit from an end-to-end financial messaging solution that features a direct gateway to SWIFT."