Sun Launches Open Suite for SWIFT for Financial Institutions and Corporate Treasuries

Sun Microsystems, Inc. (NASDAQ: JAVA) today announced the launch of the Sun Open Suite for SWIFT, a complete end-to-end software and hardware infrastructure solution to help corporate treasuries and financial institutions kick-start fast and secure SWIFTNet integration.

"As a market leader in payments, Sun is once again ahead of competition in launching one of the industry’s first complete and open SWIFTNet-integration solution" said Ambreesh Khanna, Global Head of Financial Services, Sun Microsystems. "Given the current dynamics of the financial industry, we need to provide innovative technology solutions that are cost-effective, risk-free and easy to deploy. We are confident that with the Sun Open Suite for SWIFT, our customers can turn cost centers into opportunities for new revenue streams"

Corporations, banks and securities firms initiate new SWIFT projects for various reasons. For example, SWIFTNet integration could help simplify government regulation compliance efforts, streamline industry initiatives and speed replacement of legacy software. Whether starting new SWIFT projects or consolidating existing SWIFTNet access points, the Sun Open Suite for SWIFT solution could help minimize implementation risk and cost, simplify adoption of new SWIFT technology standards and speed deployment of SWIFT FIN-based message flows and new XML-based SWIFT Solutions.

In order to connect to SWIFT, organizations need an integration solution that enables back office applications with the ability to communicate with SWIFT. This allows for automation and standardization of financial transactions, thereby lowering costs, reducing operation risks and eliminating inefficiencies.

"Our customers are looking for a hassle-free way to connect to the SWIFT network. While it is important for them to automate and standardize their financial processes, they cannot afford programs associated with high upfront and maintenance costs" said Carlos Pastor, CEO Red Financiera - Grupo Acotel SWIFT Service Bureau. "We selected Sun’s Open Suite for SWIFT solution as it is the most cost-effective and innovative available today"

The Open Suite for SWIFT solution comprises Sun’s leading edge financial services products—the Sun Java Composite Application Platform Suite (Java CAPS), hardware, operating systems, high-availability clustering options—and a partner network for rapid deployment, all brought together to suit the specific needs of SWIFT participants, including those preparing to join SWIFT and those consolidating or upgrading current SWIFT infrastructure.

Java CAPS was recently certified with the SWIFTReady Financial EAI Gold Label, for the tenth consecutive year- confirming that the Sun solution is fully compliant with current requirements of SWIFT network.

Sun Microsystems develops the technologies that power the global marketplace. Guided by a singular vision -- "The Network is the Computer" -- Sun drives network participation through shared innovation, community development and open source leadership.

Source: Sun Microsystems, Inc.