A seal of quality that offers our customers the security they need, SWIFT has put ONE PM through its paces with regard to both technical and functional criteria, validating and recertifying the reconciliation capabilities for 2019. This is more important than ever at a time when micro-services and the fragmentation of the value-added chain are becoming the new reality in the financial industry.
“ONE PM has a very exciting business model and we have supported them from the beginning on their way to the L2BA-SWIFT partnership. Fortunately, they have since been able to confirm the certification requirements year after year.”
We are fluent in “SWIFT” – and have proven it again!
In 2016 ONE PM achieved certification for “SWIFT Certified Application for Reconciliation” and “Alliance Lite2 for Business Application” for the very first time, joining a select band of such providers, Since then we have repeatedly undergone recertification by SWIFT with the latest renewal successfully completed in 2019.
For our customers this means that ONE PM fully meets the carefully defined requirements in the area of SWIFT standards, messaging and connectivity for which stringent criteria must be met by any application which wishes to connect to the SWIFT network.
A label that more than just scratches the surface
These seals of approval are about much more than just a superficial examination of the user application. In addition to a technical and functional validation by SWIFT experts and an assessment of customer satisfaction, the renewal of the L2BA label requires independent third party testing. This includes, for example, a comprehensive audit of the infrastructure, cyber security and governance processes of both ONE PM and our service providers every three years. In addition, so-called “penetration tests” must be passed annually, in which controlled cyber attacks are carried out on our application.
Important for ONE PM, of even greater importance for our customers
By verifiably complying with all these requirements, ONE PM has placed itself far ahead of other – in some cases significantly larger – market participants. For our customers this offers them peace of mind regarding the stability of the solution and the security of their data, topics which are often difficult to understand and even harder to verify. With ONE PM this burden is greatly reduced, because “SWIFT just does it for you”. Periodically, reliably, independently.
“A label with many facets that gives our customers a good feeling about the safety and stability of ONE PM!”
We firmly believe in the increasing value of suchlabels. In the financial industry there is a clear trend towards fragmentation of the value chain. More and more services are being outsourced to providers of micro-services. It is becoming increasingly difficult for the customer or “user” to follow where their data is located and to verify it is being adequately protected. It is precisely this reassurance that an independent certification such as SWIFT can offer. The fact that such well-established players as the Swiss Bankers Association (SBA) have recently published their own corresponding guidelines (guidelines for cloud-based banking) reinforces our view that certifiable micro-services are the way forward in the financial sector.