Volante Technologies supports SWIFT Standards Release 2019

NEW YORK and LONDON and DUBAI, United Arab Emirates and MEXICO CITY, Feb. 25, 2019 /PRNewswire/ -- Volante Technologies Inc., the global provider of software to accelerate digital transformation and modernization, today announced support for the latest SWIFT Standards Release 2019.

On February 22, 2019, SWIFT issued its latest standards release which includes a number of changes, most notably for payments messages and to SWIFT gpi. This includes mandatory changes mostly relating to the UETR (Unique End-to-end Transaction Reference). In this SWIFT release all users of Category 1 and 2 messages will be impacted, whether or not they use the SWIFT gpi service.

As part of its continued, comprehensive support for all SWIFT standards releases, Volante has incorporated the necessary changes to the messages as well as provided full support for SWIFT gpi, including the supplementary message format validation rules in SWIFT 2019, which covers the syntax and semantic validations to be performed for various MT messages impacted by these changes. Volante's SWIFT standards update also includes support for flexible access to SWIFT gpi data in SWIFTRef repositories.

Christine Barry, Research Director at Aite Group, commented, "As financial message standards evolve it is important that systems within financial institutions quickly understand the changes and take advantage of what they may offer in terms of potential increased processing efficiency and the business advantages they may bring. Financial technology vendors such as Volante rightly ensure they react as fast as possible to support such changes for immediate advantage to financial institutions."

Venkat Malla, VP Product Management, Volante Technologies, commented, "We are delighted to once again rapidly provide support for the new SWIFT standards within days of the new SWIFT release. This update is important not just for our clients, but for the industry as a whole, as we continue to support the revolution in the payments industry as it moves increasingly towards a more real-time environment. Volante is fully committed to the SWIFT gpi initiative and by rapidly incorporating the latest changes into Volante's library of message standards, we are able to help our customers accelerate adoption of this service and, more broadly, embrace new technologies to stay ahead of the curve in the rapidly changing financial services industry."

About Volante Technologies
Volante Technologies is a global provider of software to accelerate digital transformation and modernization in financial services. Our clients include the world's largest banks, market infrastructures, exchanges, clearing houses, corporate treasuries, and card networks.

Volante's ecosystem of business services simplifies complex systems and processes in payments, capital markets, and financial messaging automation. As a result, our clients are able to stay ahead of emerging market trends, become more competitive, deliver superior customer experiences, and grow their businesses through innovation.

Founded in Silicon Valley in 2001, Volante today serves as a trusted, strategic business partner to over 90 financial institutions in 35 countries.

For further information please visit: www.volantetech.com 

SOURCE Volante Technologies

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