Microsoft Partners With SWIFT Payments NetworkMicrosoft Partners With SWIFT Payments Network
The software developer said it plans to work more closely with the Society for Worldwide Interbank Financial Transactions.
September 15, 2008
Microsoft said Monday that it will work to make its technology more compatible with the global, interbank payments network operated by the Society for Worldwide Interbank Financial Transactions (SWIFT).
Under a formal partnership, Microsoft and SWIFT will work together to develop software tools that will make it easier for institutions that use Microsoft-based computer systems to connect their business systems to the SWIFTNet network. "SWIFT customers demand flexible messaging platforms that are cost effective to implement and integrate with their existing systems," said Amanda Westwood, global head of SWIFT's customer service division, in a statement. Part of the plan calls for Microsoft to build foundation technologies for SWIFT, on top of which Microsoft's development partners will be able to build solutions tailored for various industries and circumstances. Microsoft's financial services customers want the company to "provide increased flexibility beyond core SWIFT offerings," said David Vander, Microsoft's worldwide managing director for banking. Microsoft is also developing versions of its software specifically designed to support the SWIFT network. Its BizTalk Server 2009 with BizTalk Accelerator for SWIFT product is designed to let financial institutions access a full set of SWIFT offerings, including adapters for SWIFTNet FileAct and InterAct, which link BizTalk Server and the SWIFT secure IP network. Additionally, BizTalk Server 2009 will offer extended support of ISO 20022 message repairs, such as correcting FIN messages and supporting the needs of MX- and ISO 20022-based XML messages, according to Microsoft. "The Microsoft BizTalk Server 2009 release further extends our commitment to ISO 20022 standards," said Robert Wahbe, corporate VP of the Connected Systems division at Microsoft. ISO 20022 is a standard for universal financial services messaging.
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