LONDON…25th October 2001. Misys International Banking Systems (Misys),the largest supplier of SWIFT message generation solutions in the world with more than 1,000 installed sites, has announced that Meridian Link, the company’s SWIFT message management solution, has been accredited with SWIFTReady GOLD status. Meridian Link’s SWIFTReady GOLD certification covering the EAI (Enterprise Application Integration) market, was awarded following a rigorous series of tests carried out by SWIFT during the past two months.
Patrick Neutjens, Head of SWIFT Partner Solutions, says, "The SWIFTReady GOLD status award recognises the validation of Meridian Link’s functionality against the highest criteria set by SWIFT. These range from full support for all SWIFT message types, the incorporation of components such as the BIC Database, plus the ability of the system to provide enhanced STP. Other functions that were assessed include adherence to SWIFT’s recommended best business practices and full connectivity to SWIFT’s own interface devices."
Meridian Link is a sophisticated, flexible, advanced technology platform providing message generation, message formatting, message management, and network connectivity. The solution combines all the benefits of Misys’ Meridian Middleware toolkit for developing rapid integration with banking applications, together with a fully functioning user front-end for use by the back-office in managing, validating, and routing messages to networks.
Commenting on the inherent flexibility of Meridian Link, Stephen Gowers, Misys’ Product Development Director says, "Meridian empowers customers with free choice in implementing their messaging infrastructure.For example, Meridian Link supports a fully conversational, two-way interface with the majority of the standard SWIFT Interface Devices. Integration with SWIFT’s own Alliance platform is supported via that latest MQSeries SWIFT Alliance (MQSA) method, or the more traditional CASmf or file transfer options."
"Meridian Link is Misys’ strategic platform for the support of messaging networks, the most important in the banking industry arena being SWIFT," he continues. "As such, Meridian is being incorporated into Misys’ solutions to provide our customers with the highest standard of messaging functions available within any banking system on the market."
Misys has already licensed Meridian Link into more than 30 sites around the world. With the first site going live in Q4 2000, and four more sites following quickly in succession, the solution has proven to be quick to implement, secure, robust and reliable.
Meridian is also being used to support SWIFT messaging within fellow Misys Banking & Securities division units such as Misys Asset Management Systems.In particular, the two Misys subsidiaries are working closely together to develop support for the latest ISO 15022 messaging standards as well as future support for the SWIFTNet and ISO 15022 XML initiatives. Each of these solutions will use the Meridian platform, since Meridian technology now forms the basis for future Misys message processing. Stephen Gowers points out, "Because of the inherent flexibility of the underlying XML-based technology and user functions, the Meridian Link solution is also ideal for supporting SWIFT messaging outside the Misys system environment. We have already begun discussions and presentations of Meridian Link as a stand-alone solution to a number of selected non-Misys customers in the UK and Europe, and have met with very positive feedback. We have, therefore, begun to invest significant amounts of resource to address this demand. In fact, Misys has already proved the value of Meridian Link as a stand-alone solution by implementing the system at a live site in London to process third-party system data for transmission to SWIFT."
Rupert Soames, Chief Executive of Misys Banking & Securities Division comments, "Misys is proud of the fact that more SWIFT messages are generated by its back-office solutions on a daily basis, than by any other vendors’ systems in the world. During 2000, SWIFT did an analysis which showed that out of the total number of messages produced worldwide, the Midas banking system alone produced 10% of all SWIFT messages every day. Nor is our market focused on a small number of high volume players in select locations, as the Midas figures were based on surveying approximately 500 sites in more than 60 countries."
"It is this market penetration that has led Misys and SWIFT to initiate closer working ties in a number of areas. The next 3 to 5 years will see major changes to the technologies, standards, and business processes supported within the world of financial messaging," he continues. "This sector, and in particular SWIFT message generation and management, is seen as a strategic core business for Misys. Consequently, Misys and SWIFT are now working closely to ensure that our applications can support these new initiatives from SWIFT, as well as provide our shared customer base with real business benefits. In time, the solution will enable a wider market to take advantage of the value-added benefits of SWIFTNet and ISO15022."
Rupert Soames sums up by saying, "There are enormous synergies between our two organisations as we both strive to deliver against our common goals. These shared objectives focus on support for global messaging and the provision of a single window on the world of financial messaging.We also have the mutual goal of enhancing STP within the world of finance to reduce both costs and risks. Finally, our joint aim is to establish close partnerships with customers and fellow suppliers, and deliver value to the end-user in this challenging environment."