SunGard's AvantGard Supports SWIFT's 3SKey and CGI Initiatives
SunGard announced that its AvantGard solution will adopt two new industry initiatives: personal digital identity (PDI), called 3SKey, and Common Global Implementation (CGI) which aims to streamline the use of the ISO 20022 standards for payments and cash management. The two initiatives will help foster improvements in the standardisation of corporate transaction banking processes and financial messaging.
In spite of the advanced technical interfaces that are now available for bank connectivity, corporations continue to face challenges related to implementing standardised solutions across the multiple banks with which they do business. However, according to SWIFT, adopting 3SKey and CGI can help improve security and standardise messaging between corporations and their banks.
“3SKey and the CGI are key pillars of SWIFT’s strategy to help the industry further streamline corporate-to-bank communications. We welcome SunGard’s initiative to extend the benefits of these two initiatives to its customers,” said Elie Lasker, head of corporate market at SWIFT.