SWIFT launched MyStandards, a web-based application to facilitate the management of global standards and related market practices across the financial industry. It will be commercially available at the end of June.

Developed in collaboration with pilot customers, MyStandards will help financial institutions, market practice groups, market infrastructures, and corporations reduce the time, resources, and risks involved in standard implementation.

MyStandards bridges the gap between business and IT, and is geared to business analysts, product and project managers, and standards implementers. It offers standards content combined with a set of features enabling users to centralize and manage their standards-related information.

Says Karla McKenna, chairman of the Steering Committee of the Securities Market Practice Group: “SMPG supports MyStandards as a tool to streamline market practice for standards in the financial industry. We intend to use MyStandards to document market practices currently on the SMPG website and believe MyStandards will be a valuable tool for SMPG and individual NMPGs in the development, publication, and distribution of future market practices.”

MyStandards is among the first products from the SWIFT Innotribe incubator to be commercialized. The Innotribe incubator allows the financial industry to collaborate, experiment, and develop new products and services.

 

 

[This article was posted on May 29, 2012, on the website of ABA Banking Journal, www.ababj.com.]      

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