PolarLake and C24 Announce Partnership: Enhance support for a wide range of Financial Message standards
Published September 6, 2005 / Press Releases
PolarLake™, a leader in standards-based incremental integration, and Century 24 Solutions (C24), a software and consultancy house delivering integration within the securities and wholesale banking markets, today announced that the two companies are working together to extend the benefits of the Enterprise Service Bus (ESB) and Service Oriented Architectures (SOA) using C24's Integration Objects (IO) Toolkit and PolarLake's Integration Suite.
As part of this agreement, PolarLake today announced out-of-the-box support for financial data formats including SWIFT FIN, FIX, CREST/DEX, CREST/ISO and OMGEO within the PolarLake Integration Suite. This significantly enhances the product's existing ability to read, manipulate and transmit these formats, and adds support for the 'semantic validation' of messages in these formats. This enables the automatic identification and correction of incorrectly formatted or otherwise inaccurate messages - thus dramatically reducing error rates and minimizing the requirement for human intervention and improving STP rates.
These new capabilities extend the reach of ESB and SOA solutions based on the PolarLake Integration Suite to business areas requiring support for these financial services message formats. Specifically, it becomes possible to automate – within standards-based ESB and SOA solutions - complex business processes involving the validation, mediation, transformation and translation of standard message formats, XML and non-XML based message standards and customer specific formats. Using the PolarLake Integration suite, these solutions can now be configured - not coded – reducing implementation costs and on-going maintenance and evolution costs.
"PolarLake is committed to meeting the needs of our customers within financial services – and many of these customers are already using C24's and PolarLake's product together in major projects." said Ronan Bradley, CEO of PolarLake. " While we are focused on supporting the move to XML based SOA and ESB based solutions, we have long recognized the importance of supporting existing message and data formats. Through this partnership with C24, we are now able to deliver the same quick and easy integration of complex business processes, at high performance levels, for projects requiring a wide range of financial service message formats including SWIFT FIN, FIX, CREST/DEX, CREST/ISO and OMGEO."
"We are delighted to announce our partnership with PolarLake," said Wayne Meikle, Managing Director of C24. " We are already successfully working with PolarLake in several major financial services organizations on projects that take advantage of the combination of our company's technologies to solve complex business problems. PolarLake's ability to deliver SOA and ESB solutions perfectly complements our own expertise in the area of data validation and integration. Our two organizations are ideally positioned to reduce costs and improve performance in complex financial environments."
About PolarLake
PolarLake enables firms to deliver on the full promise of EDM, integrating into downstream systems with 75% less time and 80% less resources than generic ETL products. Its flagship product, PolarLake RDD (Reference Data Distribution) is a domain specific Integration application built to manage to end-to-end process of Reference Data Distribution.
PolarLake RDD provides unique capabilities for Business Operations, Business Analysts and Technology to manage and control Reference Data Distribution. PolarLake has been recognized by Industry Analysts as a leader in its space, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant. PolarLake’s clients include Global Sell side, Buy side and Asset Servicing Institutions.
For more information contact us.
2012