Sterling Commerce Partners with LogicaCMG to Provide Enhanced FileAct Solutions for Swift Community

Monday 20 October 2003 15:14 CET | News

Sterling Commerce and LogicaCMG have partnered to provide a solution that will enable members of the SWIFT financial services community to send messages, over the SWIFTNet network, via the newly available FileAct service.

The new solution from Sterling Commerce and LogicaCMG will enable financial institutions to selectively route messages to remote parties through the familiar FIN or the new FileAct service, to single or multiple destinations. Based on SWIFT estimates, the FileAct service allows users to enjoy significantly reduced usage costs when compared to the traditional FIN service. Information such as low value payments, reconciliation data and reporting is ideal data to be sent via FileAct. Data latency for message delivery can be controlled by the user, however messages requiring immediate delivery can still be sent over the network in real time. The new Sterling Commerce and LogicaCMG solution will provide many existing large users of SWIFTNet with: -- Risk reduction by managing and controlling the message exchange based on value and latency -- Continued security and resilience -- Lower total cost of ownership through a reduction in overall transaction costs, while using SWIFTNets single window for FIN and FileAct traffic. LogicaCMGs FASTWIRE and BESS user base currently generates approximately 10 percent of SWIFTs daily traffic worldwide. While traffic filtering functionality currently exists within these products, the addition of Gentran Integration Suite and Connect makes sending bulk messages over SWIFTNet a reality. LogicaCMG is looking to leverage its position as the first Global SWIFT business partner by rolling out these services to a wider audience, including users of the SWIFTAlliance product set. Using SWIFTNet FileAct with Gentran Integration Suite and Connect to send and receive messages as files across SWIFTNet, companies will realize end-to-end automation, tracking, auditing, enhanced security and be able to guarantee the integrity and exchange of file information. It also will allow SWIFTNet users to achieve cost savings through better management of FIN traffic and a more innovative use of the SWIFTNet FileAct service. Sterling Commerce is the FileAct partner of choice for SWIFT, with one third of SWIFT FileAct users already using Connect:Direct for file-based transfers over SWIFTNet. At SIBOS last year, Sterling Commerce announced it had partnered with SWIFT to launch Connect:Direct for SWIFTNet, a customized version of the Connect:Direct software - the de facto standard for automated Internet-based file transfer and connection worldwide. Sterling Commerce and LogicaCMG created a successful Proof-of-Concept that will be demonstrated at SIBOS to existing SWIFTNet customers.

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Categories: Payments & Commerce | Payments General
Countries: World
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