10 Oct 2002: iWay Launches ISO 15022 Integration Kit

Information Builders’ iWay Software subsidiary has released its Swift Accelerator Kit, which integrates any data to ISO 15022 standards. The package is library-based, using iWay Software’s XML Transformation Engine, suite of adapters, and messaging templates.

The Swift Accelerator Kit enables financial organizations to comply more cost-effectively with industry initiatives, such as the move to the Society for Worldwide Interbank Financial Telecommunication’s SwiftNet and the emerging SMPG (Securities Market Practice Groups) requirements. iWay claims a major advantage is the ease of installation and customization.

The financial services community is being pushed toward STP and STEP (Straight Through Exception Processing) incrementally with compliance deadlines for ISO 15022 in November 2002 and the discontinuation of ISO 7775 in May 2003. Organizations that do not meet the ISO 15022-compliance deadline will be penalized.

“We've taken what we’ve learned from helping large and medium-sized financial institutions transition to ISO 15022 and packaged it into an easy-to-deploy solution aimed at meeting current Swift deadlines,” said John Senor, president of iWay Software. “We are positioning the iWay Swift Accelerator Kit as a money- and time-saving integration package.”