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Progress S/W Expands SWIFT Message Support

Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced SWIFTReady Messaging Data Services 2009 certification for Artix Data Services 3.9 and the availability of pre-built standards libraries for SWIFT Standards MT Release 2009 (SR 2009), SWIFTNet Workers’ Remittances, SWIFTNet Bulk Payments, SWIFTNet SCORE, and SWIFTNet Transaction Reporting.
  • 19 August, 2009 11:53

<p>With out-of-the box support for Standards MT Release 2009, companies can significantly reduce the risks and costs associated in migrating their current SWIFT messages to the new format by November 21, 2009, when the changes must be implemented.</p>
<p>Artix Data Services is an open and standards-based development tool for building model-driven messaging data services and data models. Pre-built and maintained libraries for over 40 industry-messaging standards are provided. Each library includes the message syntax, validation rules, and test cases of valid and invalid data. With the Artix Data Services product, compliance with constantly changing messaging standards is simplified, while the risk of failed transactions due to invalid data is reduced.</p>
<p>Evaluated on a yearly basis, the SWIFTReady Messaging Data Services (MDS) label verifies the capability of a vendor's product to access, map and validate SWIFTStandards, translate messages from one SWIFT supported format to another and deploy a run-time version of the product as a service oriented architecture component. This is the fourth consecutive year that Artix Data Services has been SWIFTReady certified.</p>
<p>“Financial institutions are under extreme pressure to reduce operational risks, cut costs and improve customer service,” said Eric Meirlaen, business analyst at SWIFT. “Progress’ Artix Data Services tool facilitates SWIFT data interoperability enabling IT to be more responsive to these business needs. Its superior support for SWIFT MT, SWIFT MX and MT-MX transformations means firms can address today’s SWIFT messaging requirements as well as tomorrow’s. We are pleased to renew the Artix Data Services SWIFTReady accreditation.”</p>
<p>The SWIFT standards streamline business communications within the financial services industry and impact every level of an organisation. The Artix Data Services product’s support for SWIFTNet Workers’ Remittances messages enables banks to further automate their bilateral clearing and settlement of cross-border, person-to-person payments. Support for SWIFTNet Transaction Reporting messages enables reporting entities to modernise the way they meet reporting obligations, including those for MiFID (Markets in Financial Instruments Directive). Progress’ extensive SWIFT libraries now include support for SWIFTNet Standardized Corporate Environment (SCORE) messages facilitating the process automation between banks and corporate institutions, and SWIFTNet Bulk Payments messages for automating the transfer of bulk payments across national and regional communities.</p>
<p>"Our extensive support for SWIFT MT and MX messages combined with our MT-MX coexistence solution provides SWIFT users with the most comprehensive financial services data interoperability tool in the market today,” said Robert Stowsky, financial services director at Progress Software. "Receiving SWIFTReady Messaging Data Services 2009 accreditation is further validation of our ability to deliver high quality services for our customers."</p>
<p>For more information about Artix Data Services, please visit:</p>
<p>About Progress Software Corporation</p>
<p>Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at</p>
<p>For further information please contact:
Shuna Boyd at BoydPR on 02 9418 8100</p>

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