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C24 Technologies Announces New SWIFT Financial Messaging Validation Services

C24 Technologies, a leader in financial services messaging and integration solutions, today announced free software services for testing SWIFT MT and SWIFTNet Derivatives messages. The cloud-based testing services are immediately available at www.c24.biz/mds to help financial services firms and application software vendors rapidly comply with constantly evolving financial messaging standards and reduce the risk of messaging failures.

Financial firms worldwide need to update their SWIFT messaging infrastructure by November 17, 2012 to comply with the new 2012 SWIFT message syntax and rules, otherwise risk message failure such as a delayed payment or trade settlement. The C24 Validation Services for SWIFT allow the rapid iteration development and unit testing of a firm’s SWIFT-based messaging infrastructure. Another common use case is on-boarding new clients across the payments or securities lifecycle where each firm needs to validate their B2B communications.

C24 is providing the testing services in two formats. The C24 Validation Service Clipboard for SWIFT is a cut-and-paste browser-based tool to instantly validate whether a SWIFT message is syntactically and semantically accurate, and if a failure, you can quickly correct and retest. The C24 Validation Service API for SWIFT is a cloud-based service hosted by Mashape and allows firms to programmatically test thousands of messages in a short time. The API is easily integrated into existing middleware environments with support for Java, PHP, Objective C, Erlang, Ruby, and Python languages.

“The yearly testing cycle for SWIFT messages can place a significant drain on a companies resources and budget, and it is critical that firms have robust testing tools to ensure success,” said Wayne Meikle, commercial director, C24 Technologies. “As a free service to the financial community, our testing services help firms reduce on-going message development and maintenance costs, as well as the risks inherent in messaging failures.”

The services include support for SWIFT Standards Release (SR) 2012, SWIFTNet Derivatives, and historical support for SWIFT messages released over the past 5 years. Unmatched in depth and breadth of standards covered, the services support over 240 SWIFT messages and 2,000 validation rules for each year.

The C24 Validation Services for SWIFT are based on C24 Integration Objects, a data modelling, meta-data management, transformation and messaging integration toolkit with in-depth support for over 40 industry standards including SWIFT, ISO 20022, SEPA, FpML, and FIX.

More information on SWIFT can be found at http://www.swift.com.

About C24 Technologies

C24 Technologies is a software company specializing in financial services messaging and integration solutions. Companies worldwide significantly decrease the time and costs for integrating financial standards and systems using C24’s data interoperability tools and pre-built standards libraries. Comprehensive support is provided for over 40 industry standards including SWIFT MT/MX, ISO 20022, FpML, FIX and SEPA. For more information or to download an evaluation version of C24 Integration Objects visit www.c24.biz or email [email protected].

Follow C24 on Twitter: @C24io

C24 Integration Objects is a trademark of C24 Technologies. Any other marks contained herein may be trademarks of their respective owners.

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