Microsoft Partner With Nordea to Provide Global e-Payments Infrastructure

Nordea and Microsoft have announced an agreement to work together to speed up the implementation of internet-based payment standards for corporate customers across the EMEA region. The two partners are developing an Identrus-backed internet payment infrastructure that will enable corporates to support new XML-based standards such as SWIFT ISO 15022. Under the agreement, Microsoft will implement a banking interface for businesses seeking a solution for international payments, over open internet, that will automatically translate different messaging formats and standards. The payment solution covers the entire business-to-business value chain, from pre-trade to settlement, and automatically routes messages concerning financial transactions to the relevant banks. The solution incorporates Identrus PKI security as well as SWIFT TrustAct internet-based messaging and payments infrastructure.

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