Sun Launches Jumpstart in Hong Kong

In 2006, Hong Kong Interbank Clearing Limited (HKICL) and the Hong Kong Monetary Authority (HKMA) chose SWIFTNet as their messaging platform, replacing their proprietary Real Time Gross Settlement (RTGS) network. SWIFTNet is SWIFT's IP-based messaging solution for financial information communications.

As mandated by HKICL and the HKMA, Hong Kong banks need to migrate to SWIFTNet for RTGS messaging by early 2008. To help banks comply, Sun is launching a Jumpstart Package to enable them to easily connect their back-end IT systems to the Hong Kong RTGS using SWIFTNet FIN and FINCopy services. The move to SWIFTNet will make use of SWIFTNet FIN and FINCopy services for transactions input and SWIFTNet messaging services for real-time query/response and interactive functions.

In the last few years, many countries have set up RTGS systems based on SWIFT to rapidly make their payment systems safer, stronger, and more secure.

The Sun Jumpstart Package includes everything a bank needs to comply with the requirements of the Hong Kong RTGS, ensuring that migration could be complete in a matter of weeks. The cost-effective, customized package includes hardware, integration to back-end systems and consultancy services from Sun.

Sun is ideally positioned to offer a solution to the Hong Kong market because of its strong local presence and its ability to offer a complete solution including hardware, services and the gold-certified Java CAPS integration software. The Java CAPS integration suite will enable banks to reuse their investments to take advantage of other SWIFTSolutions in the future.

 

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