01/19/2004

PolarLake, a standards-based incremental integration company, has joined forces with SWIFT, the global community of financial institutions, to deliver new business solutions for the investment fund and cash management areas.

“The launch of these new business standards by SWIFT will facilitate standardization and automation in the investment fund and cash management business areas,” PolarLake says. “These are part of its new generation of XML-based business standards built on SWIFT's experience in developing FIN messages - taken one step further.”

“PolarLake's SWIFT-based solutions allows SWIFT customers to rapidly gain the benefits of the new SWIFT business standards at a much lower level of initial investment and on-going cost of ownership than is possible with traditional integration vendors. Because of PolarLake's standards based approach to incremental integration it is substantially easier to implement and configure to individual customer requirements proving to be particularly attractive to tier 2 and 3 financial institutions who have traditionally struggled to cost justify integrating their operations into the SWIFT network, despite its attractions.”

"I am delighted to announce the latest of PolarLake's finance focused business solutions. We see the roll out of the SWIFT Standard XML messages as a major milestone in the adoption of XML across the financial services industry," said Michael Walford-Grant, UK Sales Manager for PolarLake. "Our products are ideally suited to address the key issues when adopting XML: managing cost and risk while rapidly delivering a highly scalable, performant and flexible system. By relying on PolarLake, a system already proven in major financial services organizations worldwide, SWIFT users can be confident that the solution will scale and evolve to meet their business objectives."