Trace Datawise Financial Ltd announced today that Gestitres had bought its EasyISO15022 (EasyISO) solution for integration to the SWIFTNet network ahead of the November 16 deadline set by SWIFT.
Trace says over half of buy side organisations have yet to buy an ISO 15022 solution. “Those non-compliant by the deadline are likely to face penalties from custodians who cannot afford the bottlenecks caused by faxing, the only other alternative,” warns the company. “Trace Datawise, which has worked with SWIFT for the past six years, has developed EasyISO as a package with its own message processing framework (MPF) which is fully quality assured and quick to implement. It carries a guarantee of support for the introduction of new XML standards for ISO15022, expected next year, and enables organisations to convert seamlessly from the old ISO 7775 message standard.”
Adds Jo Sethi, managing director of Trace Datawise: “Since being recommended by Deutsche Bank and becoming SWIFTready Gold Accredited we have been contacted by many companies who thought they had plenty of time or whose in-house development had stalled. Gestitres has planned well ahead. Others have not even started, and we are urging them to look at their options now so that their organisations are not exposed to the cost and risk attendant on not being compliant with SWIFT’s requirements.”