Sun’s SWIFT Open Integration Powers Banking B2B

Spanish savings bank Caja Madrid will use Sun Microsystems' SWIFT Open Suite for financial integration for secure end-to-end payments, securities, funds and B2B communications. The project shows today's financial climate is prompting financial IT architects worldwide to explore new integration options.

Tags: SWIFT, Financiera, Open Suite, Sun, Integration, Caja Madrid, SWIFT Projects,


Spanish savings bank Caja Madrid will use Sun Microsystems' SWIFT Open Suite for financial integration for secure end-to-end payments, securities, funds and B2B communications. The project shows how the financial crisis is prompting financial IT architects worldwide to explore new integration options.

Sun's SWIFT Open Suite for financial integration projects includes a number of financially-sensitive technologies and patterns, as well as a specially-tuned suite of Java CAPS (Composite Application Platform Suite) solutions for financial IT and compliance professionals.

With its Sun SWIFT project, Caja Madrid looks to extend it leadership position in emerging financial standards processing (SWIFT MX Messaging, SEPA Direct Debit and Target2 for Securities), with quick and secure design and implementations, and to launch a set of new B2B capabilities that will allow the bank to provide more value for its customers, corporations and financial institutions, Caja Madrid officials said.

Inside the Caja Madrid SWIFT Project
In specific, Caja Madrid will use Sun's SWIFT Open Suite to consolidate communication between the banks, thereby improving efficiency and time to market in the design and execution of business processes, executives from both companies said.

Sun said it's providing the Sun Open Suite for SWIFT solution, designed to kick-start SWIFTNet integration projects and is made up of Sun's leading-edge SOA platform, Sun Java Composite Application Platform Suite (Java CAPS), as well as hardware, operating systems and high-availability options dedicated to suit the particular needs of SWIFT participants.

Grupo Acotel is the implementer for Caja Madrid's Sun SWFT solution. "Our customers are looking for a hassle-free way to connect to the SWIFT network. While it is important for them to automate and standardize their financial processes, they cannot afford programs associated with high upfront and maintenance costs," said Carlos Pastor, CEO Red Financiera - Grupo Acotel SWIFT Service Bureau. "We selected Sun's Open Suite for SWIFT solution as it is the most cost-effective and innovative available today."

This new initiative encompasses full SWIFTNet integration, creating a new development and execution platform for business processes related to Target2, EBA XCT and SCT, Iberclear (Spanish Local ACH), SWIFT Application to Application (ICM) Integration, SEPA Direct Debit Flows and TSU Value Supply Chain.

"Caja Madrid is helping its customers better manage their messaging infrastructure in a cost-effective way," said Ambreesh Khanna, Global Head, Financial Services Industry, Sun Microsystems, in a statement. "The Sun solution for SWIFT is ideal for any company wanting to improve the efficiency and profitability of its financial messaging operations."

Inside Sun's Open SWIFT for Financial IT Integration
Sun launched its Open Suite for SWIFT last September, as a "complete end-to-end software and hardware infrastructure solution" to support fast and secure payments integration projects.

Sun's Khanna, called SWIFTNet-integration suite "one of the industry's first complete and open" solutions to respond to financial IT's current needs for low-cost and quick deployment.

"Given the current dynamics of the financial industry, we need to provide innovative technology solutions that are cost-effective, risk-free and easy to deploy. We are confident that with the Sun Open Suite for SWIFT, our customers can turn cost centers into opportunities for new revenue streams."

Corporations, banks and securities firms initiate new SWIFT projects for various reasons. For example, SWIFTNet integration could help simplify government regulation compliance efforts, streamline industry initiatives and speed replacement of legacy software. Whether starting new SWIFT projects or consolidating existing SWIFTNet access points, the Sun Open Suite for SWIFT solution could help minimize implementation risk and cost, simplify adoption of new SWIFT technology standards and speed deployment of SWIFT FIN-based message flows and new XML-based SWIFT Solutions.

In order to connect to SWIFT, organizations need an integration solution that enables back office applications with the ability to communicate with SWIFT. This allows for automation and standardization of financial transactions, thereby lowering costs, reducing operation risks and eliminating inefficiencies.

The Open Suite for SWIFT solution comprises Sun's leading edge financial services products—the Sun Java Composite Application Platform Suite (Java CAPS), hardware, operating systems, high-availability clustering options—and a partner network for rapid deployment, all brought together to suit the specific needs of SWIFT participants, including those preparing to join SWIFT and those consolidating or upgrading current SWIFT infrastructure.

Java CAPS was recently certified with the SWIFTReady Financial EAI Gold Label, for the tenth consecutive year- confirming that the Sun solution is fully compliant with current requirements of SWIFT network.



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