Simplify Swift MT and ISO 20022 for Modern Banking Applications

The banking industry faces a huge challenge — the need to map, and then maintain, SWIFT MT format messages to and from the ISO 20022 (MX) standards used by a growing list of new payment services.

Trace Financial provides Transformer, a solution that combines with Red Hat® JBoss® Fuse and Red Hat 3scale API Management to help bridge the gap between legacy applications and new payment services. The transformer includes an MT-MX mapping suite based on consistently updated libraries of SWIFT standards, helping analysts and developers resolve messaging problems quickly and efficiently. The mappings can support both Extensible Markup Language (XML) and JavaScript Object Notation (JSON) as input or output.

With the increasing use of application programming interfaces (APIs), organizations need to encapsulate all the ISO 20022 data elements within a JSON structure, which is critical for electronic data interchange (EDI) and other modern banking applications. Transformer solves these interoperability issues, handling JSON or XML formats with ease.

Transformer requires no coding, allowing banking business analysts to focus on the business logic behind the transactions and the mappings from input to output messages.

Using Transformer, analysts build models of required behaviours and deploy them directly, without the need for code, dramatically speeding up the creation of even the most complex validation, mapping, and data transformations.