Inversis chooses X-Gen Integration Solution

Madrid - 20 April 2005

Swissrisk SA announced today that Inversis, the Spanish online bank, has chosen X-Gen integration solution for SWIFT migration and services. The announcement follows closely on the heels of BBVA selecting XGen in late 2004 to integrate and automate transactions between financial institutions using SWIFT protocols.

X-Gen is the SWIFT certified solution developed by Swissrisk AG subsidiary, Imagnos AG, a SWIFTReady Gold Label award winner for 7 consecutive years. “Lowering the transaction costs for our customers by increasing our settlement efficiencies has been a prime objective for Inversis for some time,” Prof. Francesco Carbonetti explained. “We expect to lower our settlement costs by 25% and increase messaging accuracy by more than 50% Carbonetti added.

The X-Gen solution was the best choice for Inversis given their leading position in the competitive Spanish online banking market,” said Miguel Angel Villalonga, CEO of Swissrisk Spain. “The online banking retail competition is already fierce, he noted. “With X-Gen, Inversis is positioning itself for the future to leverage the opportunities XML and SWIFT messaging hold.”

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