Swissrisk Financial Systems, European Software Specialists, announced today that its […]
Swissrisk Financial Systems, European Software Specialists, announced today that its Financial Messaging and Workflow solution, X-Gen, has been certified with its tenth consecutive SWIFT Gold Label for Financial EAI.
Dirk Vesper, Swissrisk Head of X-Gen Product Development, remarked, “We are one of the few companies of EAI products in the world that has received 10 consecutive SWIFT Gold Labels for Financial EAI. X-Gen’s 10th Gold label in ten years proves again that our on-going investment in X-Gen powered products have outpaced the evolving needs of our clients and SWIFT’s stringent requirements.”
The newest X-Gen Gold Label comes on top of renewed SWIFT Gold certification in 2008 for the X-Gen based product Funds Open Architect (SWIFTNet Ready Gold Funds). The 2008 certifications show a long history of successful projects in financial messaging and shows Swissrisk commitment for SWIFT solutions in the financial industry.
Every year, SWIFT awards product certification labels designed to provide its members with quality criteria to assist them in the choice of software solutions. To be awarded a label, the software must fulfill and comply with a comprehensive list of rules.
For the 2008 label, applicants had to prove a much more comprehensive functionality to support FIN and XML based standards, processes and interfaces. The requirements are updated every year and providers’ products undergo annual SWIFT assessments. A Gold label affirms the software meets or exceeds the highest level of requirements of SWIFT. Some 8000 financial institutions in over 200 countries use the SWIFT financial messaging network to process their messages.
This means market leading clients like Commerzbank and Clearstream in Germany, AZL in the Netherlands, Banque de Luxembourg, and Allfunds and Inversis in Spain have leveraged their existing infrastructure by implementing X-Gen, where all new or revised SWIFT standards are automatically incorporated in every new X-Gen product upgrade and release.
X-Gen is expressly designed to improve STP across applications and through SWIFT, FIX and other industry standard financial messages, using advanced, visually-based Workflow to mediate changes in business processes and to streamline exception handling.