Sterling Commerce Extends its Leadership in Addressing Industry Standards for Financial Collaboration.New Standards Support in Sterling Multi-Enterprise Finance Gateway Furthers Efficient, Secure Financial Data Movement and STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. BOSTON -- Sterling Commerce, a subsidiary of AT&T Inc. (NYSE NYSE See: New York Stock Exchange :T), today announced that Sterling Multi-Enterprise Finance Gateway (MEFG MEFG Multi Enterprise Finance Gateway ) now supports several new financial industry standards that promote automated, real-time interoperability. These financial technology standards better enable Sterling Multi-Enterprise Finance Gateway customers to easily automate the secure movement of financial data to improve interoperability and efficiency and to increase straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. (STP) rates with corporate clients. "By adding industry standards support for SWIFTNet Cash Reporting, Funds and Exceptions and Investigations, Sterling Commerce continues to be a leader in the support for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry standards," said Maggie Scarborough, a research manager at IDC Financial Insights. Corporations and banks alike are under pressure to improve financial performance as they feel the impact of globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation , increased competition and regulations. Banks' transaction management business margins are being squeezed, traditional business borders are disappearing with the Single Euro Payments Area The Single Euro Payments Area (SEPA) initiative for the European financial infrastructure involves the creation of a zone for the Euro in which all electronic payments are considered domestic, and where a difference between national and intra-European cross border payments does (SEPA SEPA® Soft enhancer of percutaneous absorption Therapeutics A technology that enhances transdermal drug delivery. See Transcutaneous therapy. ) and float is becoming a thing of the past, due to the electronification of payments. Corporate banking customers require a single business gateway platform to securely automate messages, data and financial information while reducing risk and cost. Adding these standards, which include SWIFTNet Cash Reporting, SWIFTNet Funds, SWIFTNet Exceptions and Investigations, Fed Wire (Federal Wire) and clearing house interbank in·ter·bank adj. Relating to, involving, or connecting two or more banks: interbank borrowing; an interbank network of automated teller machines. payment systems (CHIPS), will enable companies to accelerate global financial data movement and thrive in a highly competitive banking business environment. "Corporate customers today want their banks to provide technology that hides the complexities of geography, protocol or network connectivity. Customers are demanding improved insight and visibility into transaction processes, faster on-boarding and improved customer service," said Jim Gahagan, global industry executive, financial services for Sterling Commerce. "With the release of MEFG 4.3, we offer an easy, secure financial collaboration solution that drives operational efficiency on a single platform, with the standardized translation capabilities necessary for financial transactions and information exchange with customers and banking partners." To better support the customer requirements necessary to adapt to rapidly changing business partner, industry and legislative mandates, Sterling Commerce is committed to actively participating in, monitoring and supporting industry and horizontal standards to deliver new and updated capabilities. This release provides Sterling Multi-Enterprise Finance Gateway customers with additional financial services standards resulting in the following benefits: * SWIFTNet Cash Reporting enables the exchange of real-time intraday Intraday Another way of saying "within the day." Notes: This term is often used for the new highs and lows of a security. For example, "a new intraday high" means a security reached a new all-time high throughout the trading day, but then fell by closing. cash reporting information on cash held in accounts maintained at various counterparties. * SWIFTNet Funds allows financial companies to standardize and automate account openings and maintenance; orders; status; cancellations and confirmations; transfers; statements (of holding and transactions); and reporting on price, cash flow, commissions and prospectus static data. * SWIFTNet Exceptions and Investigations enable streamlined management of payment inquiries. This will reduce operational costs, improve customer service, support revenue generation and provide a scaleable solution catering for end-to-end STP. * Fed Wire standards support enables member banks, and other depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. financial institutions, to have access to the Fed Wire network to perform interbank and monetary transfers for their customers with and between the Federal Reserve Board of Governors, the Federal Reserve Banks and branches, the U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Department and other federal agencies. * CHIPS standards support enables exchange of financial information through the CHIPS network for high value transactions. With 90 percent of the Fortune 500 banks as customers, Sterling Commerce continues to strategically bolster the financial community worldwide with innovative solutions that help banks grow their revenue streams from corporate clients while reducing risk and cost. Sterling Multi-Enterprise Finance Gateway enables users to extend business logic and data to partner organizations and customers with a secure and managed platform. Sterling Multi-Enterprise Finance Gateway enables information exchange and better process visibility with partner financial institutions, including correspondent banks Correspondent bank Bank that accepts deposits of, and performs services for, another bank (called a respondent bank); in most cases, the two banks are in different cities. , clearing houses, outsourced service providers, fund managers and stock exchanges. Consolidated process management -- including consolidated control, content analysis, intelligent data routing and process visibility -- enables customers to manage cost and risk effectively. About Sterling Commerce Sterling Commerce, a subsidiary of AT&T Inc. (NYSE:T), has more than 30 years of leadership and expertise in helping FORTUNE 500[R] customers thrive in a global economy by optimizing the performance of their business communities. With nearly 30,000 customers worldwide, the company is one of the world's largest providers of multi-enterprise collaboration solutions. Sterling Commerce has unparalleled experience in the retail, consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , manufacturing, financial services, healthcare and telecommunications industries. For detailed, up-to-date information about Sterling Commerce and its solutions, visit www.sterlingcommerce.com. |
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