At the financial services industry's premier global conference, Oracle today announced that Oracle Flexcube Universal Banking 11.2.0 has received the SwiftReady Payment Label 2011.
The SWIFTReady label identifies products that demonstrate compliance with SWIFT standards, messaging services, and connectivity; integrate efficiently in the SWIFT environment; increase traffic automation; and support straight-through processing (STP).
SWIFT, which supplies secure messaging services and interface software to wholesale financial entities, runs an annual program for determining the SWIFT-compliance of third-party software applications for the financial services sector. The SWIFTReady label program helps to foster solutions that are compliant with the business and technical requirements of the financial industry and enable more efficient transaction processing.
"The SWIFTReady Payment Label 2011 assures our customers and prospects that Oracle FLEXCUBE Universal Banking supports the latest SWIFT payments standards and can easily integrate with the SWIFT environment. Oracle's longstanding relationship with SWIFT demonstrates our commitment to adhering to industry standards as we develop market-leading solutions that help financial services organizations address their most pressing business challenges," said Chet Kamat, managing director and chief executive officer, Oracle Financial Services Software.