September 15, 2008
Grupo Acotel Builds New SWIFT Services on Sun Microsystems Infrastructure
Grupo Acotel today announced that it will launch new SWIFT-ready services to help corporate and bank customers in Spain better manage financial communications via the Society for Worldwide Interbank Financial Telecommunication (SWIFT) platform.
Based on the Sun Microsystems Open Suite for SWIFT, the Acotel solution is a cost-effective, fully managed service that allows customers to process payments and facilitate SWIFT communications including account statements, payments, transfers and debit services without the need to set up, integrate and support complex infrastructure.
"Our customers are looking for a hassle-free way to connect to the SWIFT network. While it is important for them to automate and standardize their financial processes, they cannot afford programs associated with high upfront and maintenance costs," said Carlos Pastor, CEO Red Financiera - Grupo Acotel SWIFT Service Bureau. "We selected Sun's Open Suite for SWIFT solution as it is the most cost-effective and innovative available today."
As one of the leading technology providers for the financial services industry and a firm with a long-standing commitment to SWIFT, Sun is launching the Sun Open Suite for SWIFT at Sibos 2008 as an infrastructure solution to kick-start SWIFT projects and consolidation initiatives. It helps institutions roll out SWIFT-based solutions faster and with significantly reduced risk.
Leveraging the Sun solution, customers pay Acotel a fixed monthly fee to use SWIFT services. They are able to order payments through a secure portal without having to integrate numerous payment systems. Rather than having to connect to several online banking proprietary services or wait on month-end reports, they can also view daily, up-to-date reporting, helping to ensure that all branch account information and payment details are immediately accessible.
"Using the Acotel-Sun solution is an excellent way to absorb the visible and hidden costs that are involved in payments processing," said Ambreesh Khanna, Global Head of Financial Services, Sun Microsystems. "This service would be ideal for any company or institution, as well as for small banks wanting to improve the cost-efficiency of its SWIFT communications or join the SWIFT network for a minimum investment."
The Sun Open Suite for SWIFT solution is designed to kick start SWIFTNet integration projects, and is made up of Sun's leading-edge financial services products including Java(TM) CAPS, as well as hardware, operating systems and high-availability options dedicated to suit the particular needs of SWIFT participants. SWIFT recently awarded Sun the SWIFTReady Label in the category of Financial EAI for the 10th consecutive year, recognizing Sun's flagship SOA product, Java CAPS.
About Grupo Acotel
Grupo ACOTEL is made up of several highly specialized IT companies (Communication Management, IT Management, System Engineering and Software Delivery). Besides SWIFT Service Bureau, SWIFT brings ACOTEL the opportunity to provide a handful of services to Companies and Financial Institutions: deployment, integration, development and operation support related to their SWIFTNet connection. ACOTEL has become the preferred solution integrator in specific areas: Payments, Reconciliation, Anti Money Laundering, Treasury ... for the Spanish and LATAM markets.
Acotelsa, Grupo ACOTEL and Red Financiera are trademarks or registered trademarks of Grupo Acotel.
About Sun Microsystems, Inc.
Sun Microsystems (NASDAQ:JAVA) develops the technologies that power the global marketplace. Guided by a singular vision -- "The Network Is The Computer" -- Sun drives network participation through shared innovation, community development and open source leadership. Sun can be found in more than 100 countries and on the Web at http://sun.com.
Sun, Sun Microsystems, the Sun logo, and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. or its subsidiaries in the United States and other countries.