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Misys Secures SWIFT Certification For Trade And Supply Chain Finance As Banks Prepare For FATF Compliance

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LONDON – Misys, the leading financial software company, today announced that it has been awarded the SWIFT Certified Application labels for trade, supply chain finance and corporate supply chain finance for the seventh consecutive year. This industry recognition comes after a successful year in which the vendor was also adjudged as ‘Best-in-Class’ for corporate client experience and transactional capabilities by analyst house CEB TowerGroup.

The certifications were awarded for:

  • FusionBanking Trade Innovation and FusionBanking Corporate Channels – Trade Finance
  • FusionBanking Trade Innovation and FusionBanking Corporate Channels – Supply Chain Finance
  • FusionBanking Corporate Channels – Corporates-Trade Supply Chain Finance

Misys’ dedication to SWIFT best practices over the years has ensured the firm’s trade services platforms are compliant with the latest standards in trade finance. In upcoming releases this will include support for the SWIFT FATF 16 changes, due in 2015 as part of SWIFT’s roadmap to address financial crime in payments and trade finance. Ensuring that all required originator and beneficiary information is available throughout the payment chain will have additional benefits for Misys’ clients given the increasing focus on KYC and AML compliance along the financial supply chain.

Misys continues to deliver platforms that meet the ever changing needs and desires of its clients and the company is actively investing to maintain the strong reputation of its front to back trade services applications. Recent enhancements include out of the box integration with a range of Misys and non-Misys commercial banking applications, pre-packaged and customizable workflows for Financial Supply Chain Management and program development, and new features supporting the adoption of the Bank Payment Obligation (BPO) and Transaction Matching Application (TMA) connectivity.  

“We are delighted to once again receive the Trade Finance SWIFT Certification labels,” said David Hennah, Head of Trade and Supply Chain Finance at Misys. “Misys always endeavours to be at the forefront of technological advancement to ensure that our clients have access to products that will safeguard their long term business and provide a platform for growth in this new era of trade financing. As SWIFT provide some of the underlying standards, we are committed to helping our clients prepare for key initiatives such as FATF 16 and providing the solutions and expertise to take advantage of the increasing potential for innovation in trade and supply chain finance.”

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