Software AG has announced that it has been awarded SWIFTReady Financial EAI label for 2011 from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The announcement was made at SIBOS 2011, an important financial services conference and exhibition.
In a release, Dr. Wolfram Jost, Chief Technology Officer, Software AG, said, “We automate and improve key banking processes for some of the biggest banks in the world, servicing more than 500 financial services institutions globally, including payment and payment monitoring solutions. We’re pleased to be recognized for our solutions and to receive the highest level of certification from SWIFT.”
Software AG received this certification for the ninth consecutive year. This award is SWIFT’s highest level of certification for interoperability and over 9,500 institutions in 210 countries accept this as a stamp of approval that assures a reliable and secure messaging solution for member institutions.
It was revealed that globally financial institutions conduct critical business activities requiring financial data communications and processing services with several third parties. This makes it necessary for a flexible, adaptable and secure network to exchange information.
A certified SWIFT solution enables Software AG to deliver integration and connectivity between existing systems and the SWIFT network for financial institutions. These clients will be able to optimize business activities like payments, securities, treasury, and trade services.
Software AG showcased its Payments Process Automation solution – a payments monitoring solution that streamlines payments processing time and also predicts and resolves potential transaction problems proactively.
The company’s webMethods (News - Alert) Business Events, a new Complex Event Processing product, helps identify event patterns and delivers a holistic view of ATM fraud scenarios. webMethods Business Events performs continuous queries on the event streams. This data can be analyzed to arrive at predictable, traceable, repeatable and correct results always, explained officials.
Software AG also announced that it is hosting the OSGi Alliance Community Event in Darmstadt, Germany along with German Telekom AG and SAP (News - Alert) AG.
Shamila Janakiraman is a contributing editor for TMCnet. To read more of Shamila’s articles, please visit her columnist page.
Edited by John Lahtinen