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August 10, 2011updated 04 Apr 2017 4:15pm

Logica enhances its financial messaging platform

Business and technology services provider Logica is set to partner TIBCO to include financial messaging to its independent messaging platform.

By Suruchi Joshi

Business and technology services provider Logica is set to partner TIBCO to include financial messaging to its independent messaging platform.

The new solution targets large financial institutions facing difficulties handling high numbers of messages through multiple SWIFT interfaces. Under the new system, companies will be able to process more than 5m messages through a single hub.

“Large financial institutions have to not only process increasing messaging volumes but also bring down the cost per message,” said Tim Brew, market development director for Logica’s Global Products Business.

“Our joint solution can process over five million messages per day on a single hub, significantly reducing the banks’ costs.”

The solution is a product of a combination between Logica’s FASTWIRE Open hub and TIBCO’s business integration and messaging middleware technology, TIBCO ActiveMatrix BusinessWorks and TIBCO Enterprise Message Service.

As well as processing messages, the solution offers comprehensive transaction auditing, monitoring, and reporting capabilities, among other value-added services.

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