10/3/2002 - SunGard Business Integration, an operating group of SunGard, and Sun Microsystems announced a joint initiative to offer a Global SWIFT Interface solution on the Sun platform.
SWIFT is the world's largest financial payments network, which this year is introducing SWIFTNet as its next generation IP-based messaging platform, comprising of a portfolio of products and future services.
The MINT Global SWIFT Interface (GSI) solution enables clients to connect to the FIN messaging service, SWIFT's secure, store and forward financial messaging service, over SWIFTNet and aims to replace in-house and legacy vendor solutions, for the world's top 300 financial institutions.
"In the drive towards hardened straight-through processing for the financial services industry, SunGard's clients must have the most secure and resilient platform on which to run," said Danny Barsella, president and chief executive officer, SunGard Business Integration. "We believe the right approach for institutions is to consolidate as much of their network operations through a single window, operating on the best possible infrastructure. SunGard Business Integration and Sun Microsystems together can offer our clients the best of both."
"The first-rate products and services offered by SunGard help financial services institutions to achieve higher straight-through processing rates, and Sun gladly continues the tradition of our close collaboration to help deliver a finely-tuned, highly optimized solution to financial customers," said David Littlewood, global director, financial services industry solutions, Sun Microsystems. "With the MINT GSI Solution residing on Sun infrastructure, clients are able to achieve operational cost efficiencies, with proven reliability, availability and optimum scalability."
SWIFTNet creates a new "mega network" effectively consolidating the existing FIN network together with many other financial networks. This means significant architectural change and creates an opportunity to reduce connection and traffic costs. However, in order to harness this external consolidation opportunity for increasing operational efficiency, organizations need to re-examine their internal network operations for both payments and securities.
About SunGard Business Integration
SunGard Business Integration provides comprehensive integration solutions for financial services. SunGard Business Integration works exclusively with major international financial services institutions, including banks, clearing and securities houses, asset managers, and trading networks. SunGard Business Integration's MINT Knowledge family of solutions enables financial services institutions to seamlessly integrate disparate business processes and their supporting applications, and deliver highly automated and robust straight-through processing and workflow management.
SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of $2 billion.
About Sun Microsystems
Since its inception in 1982, a singular vision — "The Network Is The ComputerTM" — has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 170 countries.
SunGard, the SunGard logo and MINT are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. Sun, the Sun logo, Sun Microsystems, The Network is the Computer and Solaris are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and in other countries.
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