Trace Financial Receives SWIFT Labels

Trace Financial has announced that its messaging integration products Cloverleaf Finance and Transformer have been re-awarded the SWIFTReady Financial Enterprise Application Integration (EAI) and Messaging Data Services (MDS) accreditation labels.

Every year, SWIFT updates and extends the validation criteria for the labels in line with customer needs and the evolution of messaging and technology standards in the financial market. This includes support for the full SWIFT message library for both ISO15022 and ISO20022, including syntactical and semantic rules, as well as incorporating market practice compliance and usage guidelines. Additionally, for the MDS label, products must demonstrate implementation of specific MT-MX mapping rules as defined by SWIFT in support of standards co-existence, and be deployable as a service for use by other applications. Adherence to the criteria for both labels is measured by a technical validation process that involves undertaking a series of scripted tests, the results of which have to be produced and returned for checking within a limited time window.

Eric Meirlaen, of solutions and market management at SWIFT, responsible for the two labelling programmes, said: “The Transformer product continues to impress us in its ability to solve complex financial messaging issues. Each year SWIFT increases the challenge of the MDS label. Transformer is the first to meet these SWIFT requirements accurately and completely this year [2009]. The fact that Transformer can be deployed in any technical architecture means that all customers can benefit from its capabilities within their existing infrastructure.”


Related reading

New consumer banking head for Citi Asia Pacific