SOURCE: X9

April 04, 2017 07:00 ET

Accredited Standards Committee X9 Inc and Volante Technologies Announce the Release of a Web Based Application for Testing and Validating BTRS Messages

ANNAPOLIS, MD and NEW YORK, NY--(Marketwired - April 04, 2017) - Today, the Accredited Standards Committee X9 Inc. (X9) and Volante Technologies Inc. (Volante) announced the release of a web-based application, the BTRS Validator, for testing and validating messages defined by the Balance and Transaction Reporting Standard (BTRS).

Mary Hughes, Chair, X9C Corporate Banking Subcommittee, said, "The new BTRS Validator will help demystify the BTRS Version 3 file format and transaction code usage. This app will help clearly document details of how a bank's BAI2 file varies from the BTRS standard. Many may be surprised at how closely their file compares to the BTRS standard, so we anticipate a high demand for this tool and expect many banks and treasury workstation providers to proceed with projects to support BTRS."

X9.121-2015 BTRS Version 3 provides banks and corporations with a modernized format that will enable corporations to manage their business accounts more effectively, particularly across banking relationships. Since many financial institutions depend on legacy systems, the application also has the ability to transform existing BAI2 messages to the newer BTRS format, after which they are validated.

The BTRS Validator was developed by Volante and can be used by anybody wishing to compare BTRS messages created by their software with the requirements of the current BTRS standard.

The BTRS Validator application can be accessed through the X9 web site at BTRS Validator.

About the Accredited Standards Committee X9 Inc.

The Accredited Standards Committee X9 Inc. is a non-profit organization accredited by the American National Standards Institute (ANSI) to develop standards for the financial services industry. X9 has over 100 member companies and develops both domestic and international standards. X9 also holds the secretariat for ISO TC68 which produces international standards for the financial services industry. If you would like more information about the work of X9, or about joining X9, please send your request to admin@x9.org or visit our web site at www.x9.org.

About Volante Technologies

Founded in 2001, Volante Technologies is a global leader in the provision of software for the integration, processing and orchestration of payments and financial messages within financial institutions and corporate enterprises. Volante is dedicated to helping firms manage challenges in this domain with greater ease so that they can focus on the business of being competitive in their marketplace.

Volante serves a growing client base of more than 80 financial institutions and corporate enterprises operating in 26 countries around the world, including several of the largest global financial organizations. Many clients use Volante to assist with multiple product implementations ranging from message transformation and integration, through to the processing and orchestration of transaction data and payments. Along with its products, Volante Designer, VolPay Foundation, VolPay Channel and VolPay Hub, Volante constantly maintains a growing library of more than 85 domestic and international financial industry standards plugins. These standards include SWIFT MT and MX, ISO 8583, FIX, FpML, EDIFACT, ISO 20022, SEPA, BACS and Fedwire, and proprietary formats based on XML, CSV and Fixed Width. Volante's financial message plugins are further augmented by more than 250 prebuilt, customizable, bidirectional transformations to and from these standards.

Supported by offices in Jersey City, London, Dubai, Mexico City, Hyderabad and Chennai, Volante solutions are employed by a diverse set of organizations, including buy-side and sell- side capital market institutions, banks (universal, commercial and retail), corporate treasuries, financial industry utilities, clearing houses, exchanges, systems integrators, application vendors

and corporate enterprises. By working with a global and diverse client base Volante is able to encapsulate a best-practice approach into all its product lines.

For further information please visit: volantetech.com.

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