New York-based Volante Technologies says the SWIFT Standards Release Guide (SRG) for 2005 is now avilable as a part of the maintenance release of Volante SWIFT Format Plug-in to its customers.
“BBH is already benefiting from the productivity gains and cost savings that Volante provides,” says Rick Berk, CIO and Partner Brown Brothers Harriman. “An additional component of Volante’s value proposition to BBH is the fact that they provide SWIFT SRG updates as a part of regular product maintenance.”
The annual SWIFT Standards Release Guide (SRG) contains updates to various message categories supported by SWIFT. All these changes are driven by changes in the business models of SWIFT’s members. As the underlying business changes, standards must also evolve and the yearly standards release is the basis for this, as far as the FIN Message Types (MTs) are concerned.
“As long as FIN messages exist, there will be changes introduced by new market practice requirements, new regulatory issues and changing needs introduced by the underlying business transactions,” says Krishna Sudarshan, CTO of Volante. “By relying upon Volante to provide these updates, our customers and partners save several months of effort, which is fairly typical for such upgrades. Volante includes in its product suite all categories of SWIFT messages including the highly complex network validation rules.”
Volante says iss products are applicable to reference data processing, corporate actions, market data, trade processing and payments. Volante says it provides “platform-agnostic solutions for data management and complex messaging.”
“Our goal is to make our customers focus their time and efforts on business critical issues, without having to deal with commodity issues that are handled by Volante on a larger scale,” adds Vijay Oddiraju, Chairman, Volante Technologies.