Oracle to Integrate with SWIFTNet

Oracle has announced its intention to enhance the Oracle E-Business Suite and Oracle Application Server to be compatible with SWIFT, the industry-owned cooperative providing secure, standardized messaging services and interface software to 7,650 financial institutions in more than 200 countries. Oracle plans to complete the first phase of the integration initiative in the first half of 2005.

The SWIFT community includes banks, broker/dealers and investment managers, as well as their market infrastructures in payments, securities, treasury and trade.

This integration into SWIFT's messaging platform, SWIFTNet, is part of an initiative designed to help enterprises improve operational efficiency and reduce risk by enabling seamless, back-office integration of critical information from numerous financial institutions. It is also expected to provide an opportunity for financial services providers to extend the information services and value they deliver to their business customers.

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