Misys trade finance suite certified by Swift

Source: Misys

Misys has been awarded three SWIFT Certified labels for 2013 for its front-to-back trade and supply chain finance solutions for the sixth year running.

This certification validates that Misys fully supports the latest SWIFT connectivity and financial messaging requirements in trade services, including support for SWIFT Trade Services Utility (TSU) and MT798 standards.

The certifications cover the back-office trade processing platform, Trade Innovation Plus, the front-end trade portal offering for banks' corporate clients and all the SWIFT financial messaging requirements using Misys Message Manager. The accreditations demonstrate the company's commitment to delivering the highest standards in financial message processing for its user base of over 170 trade finance clients and its dedication to delivering the most advanced, consolidated solution for banks offering trade and supply chain services. The three Misys products which have been awarded SWIFT Certified labels are:

• Misys Trade Innovation Plus : SWIFT Certified Application - Trade Finance label;
• Misys Trade Portal : SWIFT Certified Application - Supply Chain Finance label;
• Misys Trade Portal : SWIFT Certified Application - Corporate Trade and Supply Chain Finance label.

The SWIFT Certified programme ensures that third-party applications are fully compliant with the latest SWIFT standards and replaces the SWIFTReady accreditation.

"These latest certifications support our strategy to deliver the most comprehensive and truly integrated, end-to-end trade finance solution in the market," said David Hennah, Head of Trade and Supply Chain Finance at Misys. "We are a long-standing SWIFT partner and these latest validations show our commitment to maintaining compliance for new standard and our drive to deliver the most advanced transaction banking solutions for our clients. Misys TI Plus and Trade Portal users benefit from lower error rates and efficiency gains when using our streamlined trade and supply chain finance solutions, in tandem with the latest SWIFT standards."

In order to determine which products receive SWIFT Certified accreditation, SWIFT experts manually review those products under consideration. The aim of the SWIFT Certified programme, and latterly the SWIFTReady programme, is to increase straight-through processing rates for SWIFT messages by ensuring third-party applications and service providers meet the highest processing standards.

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