INVERSIS Chooses X-Gen Solution for the Automation of Finance Messaging

Madrid - 9 January 2007

Swissrisk Financial Systems, a leading provider of financial solutions for European banking institutions, announced that Inversis, a leading institution in investment solutions, has chosen SWISSRISK’s X-Gen solution to manage its messaging and connectivity with the SWIFT world.

Inversis now has real-time connectivity between its back-office system and the SWIFT Alliance product series. INVERSIS’s objective is to increase the automation and standardization levels of finance messaging, for which the solution will integrate all the SWIFT messaging.

The X-Gen project is being implemented in three phases:

• Phase one has already been completed in which Inversis provides institutional clients with liquidity service in fixed and variable annuities.
• The second phase underway will comprise the messaging relative to corporate events, cash collections and payments.
• In the third phase, Inversis will offer trading messaging services with Collective Investment Institutions.

This project enhances INVERSIS’s Department of Liquidity and Custody, allowing it to concentrate its international liquidity efforts to automate and resolve failed liquidities, instead of performing manual operations. In addition, the solution provides another tool to expand its Institutional Services, thus allowing Inversis to compete with the large market players and to reach the large institutional clients.
Thanks to the SWIFT X-Gen project, a new world of possibilities opens up to Inversis to sell new services, granting access to the whole financial community not only nationally, but globally as well.

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