Sterling Commerce, the multi-enterprise collaboration company and a subsidiary of AT&T Inc. (NYSE: T), today globally launched Sterling Multi-Enterprise Finance Gateway, a financial gateway solution that streamlines external financial and related data transmissions under one common platform. Leveraging efforts underway in Europe and Asia-Pacific for over a year, Sterling Multi-Enterprise Finance Gateway now offers companies a global solution for gaining a consolidated view of the entire financial value chain, streamlining an otherwise costly process of crafting single-point solutions for each of the many connections in a financial value chain.
âBanks are under pressure to retain market share and increase revenues in a rapidly commoditising, competitive services marketplace. Moreover the financial services industry is challenged with managing very complex financial value chain systems for the exchange of high volumes of data with outside entities, much of which is high-value and time-critical,â said Richard Spong, global industry marketing, financial services, Sterling Commerce. âBy leveraging our leading market position, breadth of expertise in business-to-business (B2B) communication and early work with European customers, Sterling Commerce is able to simplify this complexity to help banks solve this problem and gain a competitive advantage.â
Sterling Commerce is the only company that can remove the operational barriers of communicating with multiple clients who use different communications types, network media, standards and regulations within the extended financial services community.
By doing so, Sterling Commerce enables companies to rapidly narrow financial value chain gaps, allowing them to enhance their business agility and establish a competitive advantage by offering new products and services while reducing costs and risks.
âSterling Commerce has insight into the financial value chain through its extensive experience in the B2B commerce arena and thousands of business customers and hundreds of bank customers,â said Analyst Maggie Scarborough, Financial Insights. âThe company also has a road map to [service oriented architecture] SOA and integrated B2B banking, which we believe to be an important value proposition to institutions.â
The strength of the Sterling Commerce solutions is in integrating data at the enterprise edge, where business data and community processes intersect with business applications. In fact, Sterling Commerce solutions enable more than 90 of the top 100 banks on the FORTUNE 500 to build and connect their extended value chain. The highly scalable Sterling Multi-Enterprise Finance Gateway builds on this heritage to automatically analyse and translate financial transaction data from any source, combining appropriate transactions together, and intelligently routing them to their proper destinations. As a single, common platform, Sterling Multi-Enterprise Finance Gateway offers a consolidated view of the financial value chain that enables financial institutions to enhance their business agility, connect new corporate customers more quickly, eliminate security vulnerabilities, reduce costs and establish a competitive advantage by offering new highly-differentiated products and services.
The Sterling Multi-Enterprise Finance Gateway supports the latest secure protocols, authentication, validation, and intermediation capabilities to enable complete process visibility. With todayâs release, Sterling Commerce has added new standards to the solution, including Target 2 and SWIFT (Society for Worldwide Interbank Financial Telecommunication). SWIFT is the finance industry-owned co-operative supplying secure, standardised messaging services and interface software to nearly 8,000 financial institutions in 206 countries and territories.
The Sterling Multi-Enterprise Finance Gateway has been certified SWIFTReady Financial EAI Gold Label for fully supporting all SWIFT standards, message types, mappings and Straight Through Processing (STP) standards.
Sterling Multi-Enterprise Finance Gateway has been available since September, 2005, in controlled release in Europe and Asia-Pacific to support Sterling Commerce collaboration with SWIFT. Sterling Commerce has been a SWIFT Solutions partner since 2002.