Aims to Reduce the Cost of ISO 20022 Adoption and Compliance through Customised Translation Capabilities for ISV Products
Fiorano Software, a leading global provider of Enterprise Integration Middleware, API Management, and Banking Technology, announced the launch of an Independent Software Vendor (ISV) Partner Program for ISO 20022. The partner program, for ISVs in the Banking and Financial Services sector, aims at reducing the cost of complying with ISO 20022 for Independent Software Vendors by delivering out-of-the-box readiness to SWIFT CBPR+ and other ISO 20022 scheme specifications to existing ISV products.
“Fiorano ISO 20022 Accelerator (FIA) is already a listed CBPR+ ready vendor solution by SWIFT and can offer instant compliance in a non-disruptive manner.”
“There are multiple ISV products in the banking world that are expected to comply with CBPR+ and other ISO 20022 scheme specifications, and often financial institutions pass the burden of compliance back to their ISVs,” says Biju Suresh Babu, Managing Director – Banking and Financial Services, Fiorano Software. “Fiorano ISO 20022 Accelerator (FIA) is already a listed CBPR+ ready vendor solution by SWIFT and can offer instant compliance in a non-disruptive manner.”
With SWIFT expecting banks on its network to be ISO 20022 compliant for cross-border payments by November 2022, multiple market infrastructures are also migrating to their version of ISO 20022. The Fiorano ISO 20022 Accelerator, a canonical translation tool, provides effortless translation of existing systems from MT/FIN to MX/ISO 20022 and back. In addition to being CBPR+ ready, FIA also supports multiple other market infrastructure specifications for ISO 20022 and offers financial institutions a pathway to start with a tactical, low-cost, and easy translation-centric solution that can be extended to strategic, organization-wide enrichment of ISO 20022 format data over time.
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