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Grid-Tools Ensure A SWIFT Route to Success for Banks and Financial Institutions - Grid-Tools ensure a SWIFT route to success for banks and financial institutions as global payment systems change - Grid-Tools.com
Grid-Tools Ensure A SWIFT Route to Success for Banks and Financial Institutions

 

NewswireToday - /newswire/ - Eynsham, Oxfordshire, United Kingdom, 2011/12/05 - Grid-Tools ensure a SWIFT route to success for banks and financial institutions as global payment systems change - Grid-Tools.com.

   
 
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Grid-Tools Limited, the leading vendor of test data management software and solutions, has pioneered an advanced functionality route for testing SWIFT messages, the vital data sequences passed between banks and financial organisations around the world to allow payments to be processed.

The new functionality has been developed to meet the needs of banks and financial services organisations, some of which have been long-standing customers of Grid-Tools.“With compliance regulations and application environments becoming ever more complex, we understand that testing methods now require a more strategic assessment in order to de-risk and speed-up the application development and systems deployment,” said Huw Price, Managing Director of Grid-Tools.

“By developing this functionality to sit within Datamaker, it is now possible to thoroughly test SWIFT messages and reduce the risk of failed or wrongly processed inter-bank payments.”

What is revolutionary about the functionality is that it provides a solution to the potential complexity of testing. Message formats can vary by local and national convention and in many cases do not conform to any known standard and so, as an example, a simple 103 transaction has more than 2,417, 851,639, 229,258, 300,000, 000 possible potential combinations that would theoretically need to be tested.

Using the power of logical modelling and data generation offered by Grid-Tools’ award-winning Datamaker, this has been reduced to a pack of 108 messages. Running these messages through test systems now provides a more rigorous approach to testing.

“It is a myth that testing a large quantity of production data translates into better data,” explains Huw Price,“as it fails to provide a solution for the testing of extreme events which may not have presented themselves in the past. The key success factor for ensuring application stability is testing the data against all possible variations and the creation of better coverage maps.”

The Datamaker test data management suite analyses the spread of messages and provides optimum coverage among existing data. “We know that modifications and upgrades to global payment systems require thorough testing to ensure that SWIFT messages carry the right format required by the application to process payments,” Huw Price continues,“and so the functionality we’ve developed ensures better quality of testing and in doing so will help accelerate the deployment of applications.”

In the fast moving environment of data-driven global transactions, the development and improvement of systems will prove vital as organisations strive to keep pace with change.

About Grid Tools Limited
Visionary and innovative, Grid-Tools has developed test data management strategies for some of the largest international organizations and its experienced personnel have been writing and developing solutions for companies in both the private and public sectors for nearly 30 years.

Specializing in test data generation, data masking and test data management solutions and tools, Grid-Tools has re-defined how organizations go about provisioning secure, high quality data for testing and development.

The Grid-Tools Datamaker suite includes a wide range of tools and solutions for complete test data management. Its signature solution, Datamaker, creates and publishes test data with the referential and business integrity of production environments for testing and development.

 
 
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Written by / Agency / Source: Grid-Tools Limited

 
 

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Grid-Tools Ensure A SWIFT Route to Success for Banks and Financial Institutions

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Publisher Contact: Jo Wright - Grid-Tools.com 
+44(0)18 6588 4600 pr[.]grid-tools.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Grid-Tools Limited securities in any jurisdiction including any other companies listed or named in this release.

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