EastNets awarded SWIFTReady Services label for 2011

December 20, 2011

EastNets, a leading global provider of compliance and payments solutions, has announced that it has recently been awarded the SWIFTReady Services label for 2011 after successfully passing the renewal criteria.  

The certification validates EastNets' capability to perform implementation, integration, migration, upgrade and system care services for Alliance Access/Entry, Alliance Gateway, and Alliance Integrator, ensuring customers of EastNets’ Alliance 7.0 migration readiness.  

“EastNets’ remains strongly committed to deliver great-value solutions that adhere to the highest standards of excellence. The SWIFTReady Services label is an important affirmation of our quality-driven business model, while reinforcing EastNets’ status as a global leader in compliance and payments solutions,” said Hazem Mulhim, CEO, EastNets.  

The SWIFTReady certification involves three stages of validation: technical validation wherein SWIFT uses an external provider to execute the technical validation of the products applying for a SWIFTReady application label; functional validation, which consists of a detailed demonstration of the applicant product to SWIFT business experts, who assess compliance; and customer validation, which verifies customer satisfaction regarding the usage of the product.  

EastNets’ SWIFTReady solutions value-add SWIFT connectivity plug-ins including en.Reporting, which enable SWIFTAlliance Access (SAA) users to benefit from one central view to investigate, monitor and report all their FIN and XML traffic within one environment; en.Recovery, which enable SAA users to restart operations within minutes after an outage instead of hours; and en.Duplicate Detection, which prevents in real-time emission of duplicate payments or other FIN messages sent to correspondents. EastNets SWIFTReady likewise incorporates EastNets’ anti-money laundering solutions: en.SafeWatch Filtering, which provides real-time blocking and list filtering, supporting all lists including OFAC and PEP; and en.SafeWatch Profiling, which provides customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting.