IBAS GPF - Global Payments Factory Awarded the SWIFTReady Payments Label 2012

Oslo - 27 June 2012

Commercial Banking Applications AS (CBA), a global provider of banking IT solutions and services, is delighted to announce that its IBAS GPF - Global Payments Factory has been awarded the SWIFTReady Payments Label 2012.

IBAS GPF is awarded this SWIFT accreditation in recognition of its compliance with the SWIFTReady criteria, its integration with the SWIFT environment, and the solution’s contribution to creating more efficient payments operations. The award also validates CBA’s ongoing commitment towards adopting and sustaining industry standards across the entire global payments industry.

CBA has been a long-term partner of SWIFT. IBAS was the first solution to receive the SWIFTReady Gold Multi-Markets label in 1998, and was revalidated by SWIFT for each consecutive year until they phased it out in 2009, this is now replaced with SWIFTReady Payments Label.

Developed using the latest technology, (100% Java, object-oriented and on a Service Oriented Architecture - SOA), IBAS GPF provides the flexibility, scalability and openness to deploy one single payment engine across an entire institution. The solution removes geographical and technological constraints, and supports a multi-branch, multi-entity and/or a global multi-country set-up, with simple integration to other key systems. It will handle any country, currency, language, bank, branch, division, product, time-zone, clearing, accounting, payment type, message type, entity and channel.

Commenting, Rolf Hauge, President & CEO of CBA said: “We are naturally very pleased to be awarded the SWIFTReady Payments Label. It reassures our customers and our wider market that IBAS GPF supports the latest SWIFT payment standards and easily integrates with the SWIFT environment. CBA's longstanding relationship with SWIFT demonstrates our commitment to adhering to industry standards and delivering a complete and integrated global payments solution that helps banks to fully automate their global payment operations, reduce the cost per transaction, and enable them to meet with ongoing industry and customer demands.”

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