Volante Technologies, Inc., provider of accelerated data management solutions to the financial industry, today introduced the Volante MT-MX translation solution for SWIFT messaging.
Designed to support SWIFT FIN users in their transition to ISO 20022 standards, Volante MT-MX provides automated translation of any message type between the two formats until internal operations are converted to the new MX format.
“Too often, adoption of new standards, such as the shift from SWIFT MT to MX messages, lag because of the daunting chores of changing legacy systems to support the new formats.,” said Adam Honoré, a Senior Analyst at the research and advisory firm Aite Group. “With the XML advantages associated with MX messages, it makes sense to have a coexistence strategy that enables immediate MX adoption for transmissions, but MT-MX translations to meet the requirements of legacy systems. This buys time for the enterprise to catch up, while encouraging faster implementation in critical areas.”
With out-of-the-box support for bi-directional translations (MT to MX and MX to MT), the Volante solution enables users to take immediate advantage of the benefits of the new XML- based standard, while they continue to use existing MT-oriented applications and processes.
Features of Volante MT-MX include the following:
* SWIFTReady certified message library
* Predefined MT and MX messages for all categories with message
format validation rules
* Translations implemented at the dictionary level for all business
* Reusable translations across multiple messages
* Ability to customize message translations if needed to support
business specific requirements
“With our strong track record as a SWIFT Gold certified provider of message integration solutions, we are pleased to deliver an MT-MX coexistence solution that supports and will continue to support all message types and formats as they evolve through this transition,” said Vijay Oddiraju, CEO of Volante. “We are committed to supporting the SWIFT community in implementing standards efficiently and quickly.”
More than 50 financial institutions and utilities currently use Volante solutions to build, test and integrate SWIFT messages in all supported formats including MT, MX and FpML. As with all Volante data management solutions, Volante MT-MX also provides easy integration with existing systems, and works in any software, network or platform environment.
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