Volante announces the release of SWIFT SRG 2005 UPDATES to its customers

New York – March 16th, 2005 - VOLANTE TECHNOLOGIES, INC., the data management company announced today the availability of SWIFT SRG 2005 as a part of the maintenance release of Volante SWIFT Format Plug-in to its customers.

"BBH is already benefiting from the productivity gains and cost savings that Volante provides. An additional component of Volante’s value proposition to BBH is the fact that they provide SWIFT SRG updates as a part of regular product maintenance", said Rick Berk, CIO and Partner Brown Brothers Harriman.

The annual SWIFT Standards Release Guide (SRG) contains updates to various message categories supported by SWIFT. All these changes are driven by changes in the business models of SWIFT's members. As the underlying business changes, standards must also evolve and the yearly standards release is the basis for this, as far as the FIN Message Types (MTs) are concerned.

"As long as FIN messages exist, there will be changes introduced by new market practice requirements, new regulatory issues and changing needs introduced by the underlying business transactions" said Krishna Sudarshan, CTO of Volante. "By relying upon Volante to provide these updates, our customers and partners save several months of effort, which is fairly typical for such upgrades. Volante includes in its product suite all categories of SWIFT messages including the highly complex network validation rules."

Volante’s products are applicable to a wide variety of solutions used by the financial services industry including reference data processing, corporate actions, market data, trade processing and payments. Specifically, Volante provides platform agnostic solutions for data management and complex messaging.

"Our goal is to make our customers focus their time and efforts on business critical issues, without having to deal with commodity issues that are handled by Volante on a larger scale", Vijay Oddiraju, Chairman, Volante Technologies.

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