Trace Financial announce major wins for Transformer

15 October 2012

Trace Financial today announced several further sales of Transformer, the company’s flagship message transformation solution. The new clients include a major cross-border retail payments service and a global broker providing clearing and settlement services to its own client financial institutions.

The company also announced an extension of its partnership with SWIFT, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories.


Transformer and SWIFT integration

Following Transformer’s earlier adoption as part of the Alliance Messaging Hub (AMH), it will now be deployed within SWIFT’s new Alliance Access Integration Platform. The Integration Platform’s role within Alliance Access is to provide flexible back-office connectivity and processing of messages. Transformer will primarily be used to transform in-house data formats to and from SWIFT-compliant ISO 15022 and ISO 20022 messages, as well as providing validation and data enrichment services.

Victor Abbeloos, Head of Interfaces and Integration Product Management at SWIFT, comments: “For many of our clients message transformation is a critical requirement for integration with SWIFT. As we were extending our integration product offering, we wanted to identify best in class components.

The Integration Platform, which is now included with Alliance Access, puts us in a strong position to solve our customers’ SWIFT integration challenges. In the meantime, we have already completed our first customer projects with the new platform, and will be showcasing these customer projects at Sibos 2012 in Osaka. We are happy to have selected Trace Financial and to use Transformer as part of the overall solution.”

John Murphy, Trace Financial M.D. says: “We are very pleased to extend our relationship with SWIFT. Transformer will enable SWIFT’s clients to quickly create, deploy and maintain the mappings they require for successful integration projects.”


About SWIFT

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

About Trace Financial

Trace Financial Limited are leading specialists in financial message transformation and have been designing, implementing and supporting mission critical solutions to the financial industry for over 30 years. Trace Financial is part of the privately-owned Trace Group.
 

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