Management Data, a Vienna, Austria-based secure transaction system developer, has won recognition from Swift, the Society for Worldwide Interbank Financial Telecommunications SC, which awarded the Austrian firm’s reconciliation product a ‘gold label.’ Management Data’s business is oriented around Swift and its customers, so MD’s products have to be tailored to operating over Swift’s network. It was this proactive support of the Swift system, says Sam Romilly, lead analyst for Swift’s partner solutions division, which was key to its winning the endorsement. Reconciliation software speeds the process of matching instructions to a system, buying, selling or giving a statement, against the actuality of whether that instruction was executed. Swift supplies the global communication and standards for over 6,500 financial institutions in 178 countries. MD will feature on Swift’s promotion material as one of three firms with the gold standard, the other two being Geac and Placid.
