Sterci, the Geneva based software provider of STP solutions, today announced that SWIFT has awarded its product Steform with the SWIFTNet Funds Ready accreditation.
The funds industry is victim of its success and the distribution side is suffering of lack of standardisation and manual processes. In the investment funds distribution process non-structured messages like FAX represent an operational risk exposure for all actors. SWIFTNet Funds is SWIFT's messaging service with standard tailor-made to the needs of the investment funds distribution players. Based on the new ISO 20022 XML specifications, SWIFTNet Funds allows to standardise and automate the following business flows: account openings and maintenance, orders, statuses or cancellations of orders and order confirmations, transfers, statements (of holding and transactions), reporting on price, cash forecast, commissions, prospectus static data.
Steform, the Sterci Intelligent message builder EAI, includes the complete set SWIFTNet Funds standard messages and can be used by any funds application for Inbound or Outbound flow of information with an extensive mapping facility. Furthermore Steform can select the right standard to be used according the message destination: ISO 15022, ISO 20022, FIX, Secom, proprietary.
Michèle De Boe, SWIFTNet Funds Programme Manager SWIFT comments "we need partners like Sterci in order to facilitate integration with the new SWIFTNet Funds messaging platform and adoption of the new dedicated funds standards ".
Etienne Savatier Sterci head of marketing adds "the Steform technology based on Java and XML is ideal to ease the integration of the new standards into business applications".
Sterci Solutions for STP will be presented at Sibos Copenhagen September 5-9 booth #B116
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