Microsoft Solution Targets Payments Processing and Integration to SWIFTNet
Microsoft has introduced the financial messaging service bus (FMSB), a componentised financial services industry integration solution built upon the company’s BizTalk Server 2009. By providing pre-built service components, the solution is designed to simplify financial messaging for banks, payments processors and other financial institutions, and provide a solution platform for Microsoft technology partners.
The FMSB not only applies to SWIFT or payments, but is extensible across all financial messaging systems as an integration framework allowing new solutions to be built and to co-exist with legacy applications as part of a technology renewal program. The solution supports Microsoft BizTalk Accelerator for SWIFT, which has been awarded the SWIFTReady Financial EAI 2009 label.
Microsoft says that the new solution cuts the cost of development, and speeds up the implementation process by providing reusable service-oriented architecture (SOA) components to simplify financial messaging integration, rather than requiring extensive onsite process engineering. It is designed to save financial services industry clients and technology solutions partners time and money in building and implementing payments and capital markets solutions.
In the past year Microsoft has added BizTalk Server support for Alliance Lite, thereby enabling SWIFTNet connectivity across the Internet.
Microsoft claims that the FMSB delivers benefits that lower the cost of messaging for corporate treasuries and financial services firms, including: