XSP Awarded 2009 SWIFTReady Corporate Actions Label Accreditation

PRLog (Press Release) - Sep 13, 2009 -
XSP Awarded 2009 SWIFTReady Corporate Actions Label Accreditation in Conjunction with Microsoft BizTalk Accelerator for SWIFT

LONDON, UK – 14 September 2009 – XSP, the leading global provider of Corporate Actions software, announced today at Sibos 2009 that the company’s flagship product, XSP™ v5 platform, has achieved the SWIFTReady Corporate Actions Label accreditation for 2009 in conjunction with Microsoft BizTalk Accelerator for SWIFT, the SWIFTReady Financial Enterprise Application Integration (EAI) product.

For the fifth consecutive year, XSP has been awarded this prestigious honour, certifying its compliance with best market practices in global Corporate Actions processing. SWIFTReady providers must adhere to a stringent set of criteria linked to the support of SWIFT ISO messages, connectivity and functionality. The criteria are reviewed annually to ensure that the accredited application is in line with SWIFT’s evolution and client requirements.

The XSP v5 platform is XSP’s latest state-of-the-art solution developed to automate each step of Corporate Actions processing. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilising Microsoft .NET components and Web services for global enterprise-wide processing. A SWIFTReady-labelled application, the XSP v5 platform is SWIFT ISO 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).

Hervé Valentin, Senior Business Development Manager, SWIFT, said, “XSP is a key SWIFT partner of Corporate Actions and we are delighted to award them the SWIFTReady accreditation for the fifth consecutive year. This achievement represents their leadership in this highly-specialised space and their commitment to constantly advance their technology and products with a strong emphasis to market practice compliance, to meet the growing needs of their global clients. XSP is a strong supporter of SWIFT as well as an advocate of industry initiatives that help the financial community promote greater STP. We look forward to continue working closely with XSP to develop cost-effective solutions that mitigate operational risks and costs in Corporate Actions processing for the industry.”

Microsoft’s BizTalk Accelerator for SWIFT enables clients to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping to deliver rapid return on investment by reducing the complexity of bilateral communications between institutions. This SWIFT EAI Label application also provides clients with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.

“Microsoft develops relationships with trusted partners like XSP to help the global financial community drive operational efficiencies and excellence,” said Susan Hauser, Vice President, Worldwide Financial Services, Microsoft. “By integrating the XSP v5 platform with Microsoft BizTalk Accelerator for SWIFT, clients can leverage a reliable and scalable solution for SWIFT ISO 15022 messaging in Corporate Actions processing. The SWIFTReady Corporate Actions Label validates and recognises XSP for providing clients with innovative solutions to automate this high-risk and complex area of operations.”

Paul Fullam, Senior Director, Business Strategy at XSP and Co-Chair of ISITC Corporate Actions Working Group, said, “We are delighted to receive the SWIFTReady Corporate Actions label for a fifth year in a row. This label represents our continuous investments in the development of our product and our support of the ever-changing standards in the industry. With this certification, XSP continues leading the charge for global STP utilising the XSP application.”

“XSP understands the importance of staying ahead of technology to provide our clients with state-of-the-art solutions whilst conforming to the high standards set by SWIFT,” said Dan Retzer, Managing Director and Chief Technology Officer, XSP. “Together with Microsoft BizTalk Accelerator for SWIFT, the XSP v5 platform offers a reliable and innovative integrated messaging platform to support all SWIFT messages and connectivity.”