Press Release:

HP Introduces SWIFT Services on .NET


HP (NYSE:HPQ) today announced HP SWIFT Services on .NET, one of its SWIFT offerings for financial institutions migrating to the required SWIFTNet communications network. The service enables financial institutions to extend the life of IT investments and provides a platform to adapt to industry and regulatory changes with ease.

SWIFT is an industry-owned cooperative that supplies secure messaging services and interface software to 7,000 financial institutions like banks, broker/dealers and investment managers, and market infrastructure organizations for payments, treasury, securities and trade, in 198 countries.

HP SWIFT Services on .NET (HPSSN) manages many of the dynamic processing needs to comply with standards and regulations by offloading these tasks from legacy applications. As a result, financial institutions can insulate core processing from external forces and improve Straight Through Processing rates with applications that combine SWIFT messaging with enterprise application integration (EAI).

"The technical SWIFTNet migration from X.25 to IP connectivity is just the start," said John Wallace, vice president, worldwide financial services, HP Services. "The challenge is integrating these new standards and services into an existing enterprise. HPSSN can simplify standards compliance and ease internal EAI and data integration to take advantage of new SWIFT services."

HPSSN is built on the foundation of Microsoft® BizTalk Server, the Accelerator for Financial Services (A4FS) from Microsoft and ObjectSpark from FireStar Software. HP integrates this software framework and then customizes, integrates and implements the software to meet specific business needs.

"HP's SWIFTNet solution is a cornerstone in the foundation of Microsoft's financial services strategy and a demonstration of our strong commitment to the industry," said Bill Hartnett, general manager -- vertical solutions unit -- financial services, Microsoft. "Leveraging Microsoft BizTalk Server and Windows® 2003 platform, HPSSN provides key functionality and connectivity to the world's largest inter-bank payment network, SWIFT. HPSSN is a great example of how Microsoft works closely with strategic partners to deliver vertical solutions, combining industry-specific expertise with reliable Microsoft technology."

As a platform, HPSSN solves problems and creates business opportunities, such as:

  • Improved Straight Through Processing with automating reference data retrieval -- enterprise data can be integrated into HPSSN applications that are written in any .NET language;
  • Reduced IT costs through increasing adoption of and compliance with SWIFT standards and regulations;
  • Improved control over infrastructure maintenance and restructuring;
  • Decreased development time to build applications requiring SWIFT messaging; and
  • Enabled rapid development of applications that use new SWIFT services to provide competitive advantage.

"FireStar working with HP and Microsoft to deliver a cost-effective solution for the SWIFT market with unparalleled power, flexibility and service is fantastic," said Ken Lord, chief executive officer, FireStar Software. "HPSSN's benefits are immediate and will continue to provide increasing returns as SWIFT introduces its new powerful suite of XML messaging standards."

HPSSN is just one of several SWIFT solutions and services from HP. Others include: STP Bridge; HP Solution for ST400; HP Solution for NonStop; and HP SWIFTNet Standard Migration Services. For more information, see today's release titled "HP Launches SWIFT Solutions and Services for Financial Institutions."

About HP

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This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development and performance of these products and services may not proceed as planned; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's quarterly report on Form 10-Q for the quarter ended January 31, 2003, and subsequently filed reports. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP assumes no obligation to update these forward-looking statements.

About HP

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