Sun Microsystems and Grupo Acotel have announced that Spanish savings bank Caja Madrid will use the Sun Open Suite for Swift solution platform 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. This enables the savings bank to provide a new global value proposition for its customers, corporations and financial institutions, said Sun.
Grupo Acotel is the implementation partner for Caja Madrid on this project and has long-term experience implementing Swift solutions, and the vertical modules developed on top of Java CAPS.
Ambreesh Khanna, global head of financial services industry at Sun Microsystems, said: Caja Madrid is helping its customers better manage their messaging infrastructure in a cost-effective way. The Sun solution for Swift is ideal for any company wanting to improve the efficiency and profitability of its financial messaging operations.