Logica and Volante Technologies have entered into a new partnership in North America. As per the agreement, Logica will incorporate Volante's message transformation technology into its Intelligent Gateway to enhance its SWIFT MT-MX translations.
Logica’s Intelligent Gateway is a new messaging platform for trade finance, payments, and securities systems. Volante will initially be deployed to transform SWIFT MT and MX securities and payment messages. Subsequently, Volante will enable format conversions of SWIFT messages as well as BAI2, eBAM, FpML, and other message types.
Jeremy Schutte, senior vice president of Logica North America, said: “Volante adds to our capabilities with their deep expertise in transforming SWIFT and other messaging formats as well as their speed in bringing the SWIFT MT-MX translations to market.
“This will enable Logica to release updates more quickly to clients in response to regulatory changes and new business requirements. In turn, Logica’s Intelligent Gateway clients can accelerate the introduction of new business services for their corporate customers, correspondent banks, and retail customers.”
Vijay Oddiraju, CEO of Volante, said: “As the financial world gradually converts from the older SWIFT MT message format to the new MX messages, efficient MT-MX conversion is an essential capability in any bank. This, as well as interoperability of other financial messaging formats, is what Volante provides. Our goal as a partner is to make a win-win solution for Logica and its many financial industry clients.”