- Fiorano Software, which offers enterprise-level banking technology, has announced that it will offer a partner programme ahead of the arrival of ISO 20022, which is happening in the coming years.
- The target market of the new programme will be the independent software vendor group.
- A senior figure at Fiorano Software said that it recognised that vendors of this kind were often given the responsibility of checking that the systems in place were compliant – and that its product was also already approved by SWIFT.
A major provider of enterprise software has announced that it will offer a partnerships programme for its software ahead of a major cross-border payments standards update.
Fiorano Software, which offers software-based services to banks and other enterprise-level providers, is currently offering the Fiorano ISO 20022 Accelerator.
This tool is known as a canonical translation tool, which means that it can easily move the technical side of banking systems from the old level of requirements to the new.
It is designed to ensure that systems offered by financial services providers are compliant with the ISO 20022 standard for cross-border payments.
SWIFT, the international payments messaging service, has said that it wants banks that are part of its network to be adhering to this standard by late next year.
According to Fiorano Software’s announcement, it has now launched a partner programme.
This partner programme is designed to appeal to independent software vendors (ISVs) that distribute software solutions in specific niches.
In a statement, a leading figure at the firm said that the company was aware that ISVs were often told by their financial services clients that they were responsible for compliance with standards such as ISO 20022.
Biju Suresh Babu, who is managing director for banking and financial services at Fiorano Software, said that his company’s offer had been given the green light by SWIFT.
“There are multiple ISV products in the banking world that are expected to comply with CBPR+ and other ISO 20022 scheme specifications, and often financial institutions pass the burden of compliance back to their ISVs,” he said.
“Fiorano ISO 20022 Accelerator (FIA) is already a listed CBPR+ ready vendor solution by SWIFT and can offer instant compliance in a non-disruptive manner.”
Fiorano Software was first set up in 1995 and has since gone on to become a noted provider of hybrid integration systems.
The firm also offers application programming interface (API) technology to financial services institutions and others.
It aims to ensure that financial services systems are interoperable, and that they deliver profits for their users.
A wide range of companies are already on Fiorano’s client books, including AT&T Wireless, Commercial Bank of Africa, NASA, Bank of Kigali, and several others.
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