IBM announced today the availability of ISO 15022 mapping capability through an enhanced version of its WebSphere Business Integration Adapter for SWIFT.
The SWIFT Securities Committee recently affirmed the 16 November deadline for migration to the ISO15022 standard, while at the same time creating the ISO 7775 Message Users Group (MUG) for those firms not in a position to migrate by the deadline. Firms not sending and receiving messages in the ISO 15022 format after November 16, 2002 will face a per message surcharge that increases as noncompliance continues over time.
The enhanced version of the WebSphere Business Integration Adapter for SWIFT allows firms to migrate to the new message standard without placing extensive new requirements on their existing infrastructure. The adapter provides connectivity to the SWIFT network and includes pre-built maps for commonly used messages. These maps can be extended and customized using an intuitive and user friendly tool-set.
“A key element of IBM’s strategy is to help solve Securities Industry integration problems with our industry-focused WebSphere Business Integration middleware platform,” says Doug Brown, Director of Marketing, WebSphere Business Integration, IBM. “This enhanced version of the WebSphere Business Integration Adapter for SWIFT represents a cost efficient, low-impact solution to the ISO 15022 migration problem for customers that connect to SWIFT. This offering is a natural complement to our other SWIFT-related products and ISO 15022 migration services offerings.”
The WebSphere Business Integration Adapter for SWIFT is a new addition to IBM’s portfolio of WebSphere Business Integration Adapters. IBM adapters provide functionality that allows customers to extend their business process management solutions and provide control over the exchange of information. In addition to providing connectivity to Security Industry services like SWIFT and the FIX protocol, WebSphere Business Integration Adapter solutions enable integration with Siebel, Oracle, Peoplesoft, and other premier ERP and CRM applications.