Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking systems and services, today announced the introduction of Message Converter, a unique middleware application specifically designed for the financial services industry.
Message Converter instantly changes proprietary messages into standard messages such as SWIFT, and vice versa. The new system will reduce the time and cost of conversion.
The Message Converter's graphical user interface enables non-technical staff to develop the message mapping by using a drag and drop feature. The results can be instantly monitored by loading real messages as mapping input. A rich set of built-in functions also make the system easy to use. The product is available either through Fundtech's SWIFT ServiceBureau or as an installed application.
In addition to Message Converter, Fundtech has also developed Transaction Filter, an online filtering tool that can interdict a suspicious payment before it leaves the bank or enters the bank's books. The tool addresses current regulatory requirements, and offers a low cost single point of access for multiple lists, including OFAC, Factiva and Worldcheck. Like Message Converter, it is available through Fundtech's SWIFT Service Bureau or can be installed in-house.
Both Message Converter and Transaction Filter were developed by financial messaging specialist bbp, Fundtech's Swiss subsidiary, who operates the world's largest SWIFT service bureau.
"These two enhancements to our financial messaging product line demonstrate our commitment to continually innovate and offer new tools that enhance our customers performance," comments Per Trifunovic, CEO of bbp.