Caja Madrid (Madrid) is now using Sun Microsystems' (Santa Clara, Calif.) Sun Open Suite for SWIFT solution platform. The bank is using the solution for its financial messaging strategy for the next three years, spanning Payments, Securities, Funds and Treasury, in addition to communication with external institutions including CNMV " the Spanish local market regulator. Through this new strategy, Caja Madrid will be able to consolidate all bank-to-bank message flows, helping to improve efficiency and time to market in the design and execution of business processes, reinforcing Caja Madrid's leadership position in new financial standards processing (SWIFT MX Messaging, SEPA Direct Debit and Target2 for Securities). This enables the savings bank to provide a new global value proposition for its customers, corporations and financial institutions. This new initiative encompasses full SWIFTNet integration, creating a new development and execution platform for business processes related to Target2, EBA XCT and SCT, Iberclear (Spanish Local ACH), SWIFT Application to Application (ICM) Integration, SEPA Direct Debit Flows and TSU Value Supply Chain.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio