New York, 14 May 2012 – SWIFT announces the launch of MyStandards, an innovative web-based application designed to facilitate the management of global standards and related market practices across the financial industry. The platform will be commercially available at the end of June 2012.
Developed in close collaboration with pilot customers who were instrumental in shaping the product, MyStandards will help financial institutions, market practice groups, market infrastructures and corporations to reduce the time, resources and risks involved in the implementation of standards.
MyStandards bridges the gap between business and IT and is geared towards business analysts, product and project managers as well as standards implementers. It offers rich standards content combined with a powerful set of features that will enable users to easily centralize and manage all their standards related information.
Karla McKenna, Chairman of the Steering Committee of the Securities Market Practice Group (SMPG) has issued the following statement: “SMPG supports MyStandards as a tool to streamline market practice for standards in the financial industry. We intend to use MyStandards to document market practices currently on the SMPG website and believe MyStandards will be a valuable tool for SMPG and individual NMPGs in the development, publication and distribution of future market practices.”
MyStandards is among the first products from the SWIFT Innotribe incubator to be commercialised. Innotribe is SWIFT's initiative to enable collaborative innovation in financial services. The Innotribe incubator is the financial industry sandbox, an environment for experimenting and developing new products and services. See http://www.innotribe.com/ for more info.
For more information and multi-media content, visit www.swift.com/mystandards.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.