NEW YORK â August 24, 2004 - Financial Technologies International (FTI), the leading provider of Financial Enterprise Software (FES) to the global banking and securities industry, today announced a technology alliance with Volante Technologies, the data integration and financial messaging solutions specialist. The joint solution will enable firms to become compliant with new SWIFT message standards for corporate actions processing.
This initiative is the latest undertaken by FTI towards standardization and greater automation of corporate actions data. The alliance will initially incorporate Volanteâs message modelling solution into StreetActions, FTIâs global corporate actions solution, utilizing the SWIFT network and in preparation for the launch of ISO 15022-compliant services. One of the immediate outcomes of the Volante and FTI alliance would be to help customers automate announcements, publish out details and expedite STP.
"FTI is committed to providing our end users with the most flexible and robust corporate actions solution," said Mike Meriton, president and CEO of FTI. "Our alliance with Volante Technologies further strengthens the StreetEnterprise solution by providing pre-packaged industry standard messaging to help our customers to future proof their corporate actions department by delivering new features and functionality that will be rolled out on a continual basis."
Volante provides an agnostic and highly flexible data integration software platform that employs a unique plug-in concept to support SWIFT, FIX, OMGEO, CMS and other standard and proprietary fixed and variable formats. This will enable faster implementation of StreetActions with an out-of-the-box library of SWIFT messages for MT564 and MT565 message types. FTI plans to extend the solution to a variety of FTIâs StreetEnterprise modules to accommodate these other messaging and transaction processing standards.
"This alliance will address customersâ complex data management and message integration needs," said Vijay Oddiraju, chairman of Volante. "FTI can now enable their customers to rollout and maintain SWIFT messaging with the fully integrated corporate actions solutions easily and in a fraction of the time."