Cathy Kingeter

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As in any vertical industry, there are business drivers in financial services that require automated and reliable movement of data between applications and between organizations. Repetitive credit transfers such as pension or salary payments, ACH processing, securities clearing and settlement instructions, reports sent to regulatory bodies, and cash management are a few examples. Maximizing profit on every exchange is gained by moving the transactions closer to real-time processing. Automated transactions are often routed through the S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunications) network, an industry-owned cooperative supplying secure messaging services and interface software to 7,000 financial institutions worldwide. SwiftML, or the S.W.I.F.T. Markup Language, is an XML vocabulary used to automate Swift messages. The design of SwiftML acc... (more)