Misys and SWIFT have signed a partnership agreement which will see Misys increase the usage of SWIFTRef reference data across its entire banking application product portfolio
Under the agreement, Misys will receive greater access to SWIFTRef data to enhance its global banking and payments offerings, as well as support testing of its software solutions, according to a press release. SWIFT will also provide access to its in-house experts to assist with the testing and enhancement of solutions that utilise SWIFTRef data.
The agreement will benefit Misys clients using its payments and messaging solutions, the enriched payments data helping to drive straight through processing (STP). The additional volumes reference data SWIFTRef is making available to Misys will improve the overall accuracy and consistency of payments throughout the transaction lifecycle, reducing manual exceptions, message failures and costly investigations. The agreement will ensure that Misys clients who source reference data from the SWIFTRef BICPlus IBAN file will see minimal impact when SWIFT phases out the file at the end of this year.
"We are excited by the benefits this partnership will bring to our clients, giving them greater access to accurate and up-to-date reference data to further drive efficiencies in their business," said Barry Kislingbury, Global Solutions Manager at Misys. "We are very pleased to be able to assist SWIFT with the development of the SWIFTRef offering. Misys is well-placed to partner with SWIFT on this given our ongoing drive to maintain compliance with the latest SWIFT standards for our customers.”
“We are pleased to welcome Misys to the SWIFTRef Partner Programme. SWIFTRef will provide Misys customers access to extensive, highly accurate and up-to-date reference data and we look forward to working with Misys to further extend the delivery and breadth of this data over time,” added Patrik Neutjens, Head of Reference Data at SWIFT.
The partnership between Misys and SWIFT has already commenced and the enhanced SWIFTRef data has been made available through a number of Misys Core Banking products including Misys Message Manager, Misys Summit and Misys Payment Manager.