The Banque de France has just successfully completed migration of the Paris Financial Market to TARGET 2. Steria was a critical player in this migration from TARGET 1 to TARGET 2 in terms of connecting up the Central bank’s internal systems after completing the entire TARGET 2 SWIFT chain.
Taking up the new challenges of financial institutions The TARGET 2 system is essential to meet the needs of users, adapt to new regulatory requirements and the broadening of the European Union. This compelling system operates on the basis of an SSP platform, a single platform shared by European banks participating in TARGET 2.
Banque de France and Steria: fruitful cooperation For the move to TARGET 2, the Banque de France upgraded its SWIFT network connection technical architecture. This upgrade involved installing SWIFT’s ALLIANCE packages (SWIFTAlliance Access - SAA - and SWIFTAlliance Gateway - SAG). These packages enable communication between the SWIFT network and a Guichet Unique d’échanges (Single Exchange Counter) to which all the Bank’s back office applications are connected.
As a result of its SWIFT (in particular SWIFTNet services), payment and interbank system skills, Steria was entrusted by the Banque de France with integration of the ALLIANCE packages into its information system.
A team of 7 persons from Steria’s Electronic Payment Systems Department started work in June 2006 at implementing its SWIFT business expertise, its project management, SWIFTNet architecture and MQSeries skills and its JAVA and XML development expertise to take up this challenge. “Throughout this programme, Steria’s tried and tested quality process ensured we obtained excellent deliverables in line with initial deadlines and budgets set” said Jean-François MANSART, Director of the Means of Payment Department.
On 18 February 2008, all SWIFTNet services (FIN, FileAct, InterAct et Browse) required for correct operation of the platform were up and running. This solution also included a module developed by Steria that manages protocols for FileAct and InterAct flows in Application to Application mode. This module also enables direct communication between the SWIFTAlliance Gateway (SAG) and the Single Exchange Counter.
This infrastructure and secured access to these services enabled the Banque de France and the entire Financial market to be present on February 18 2008 for the move to TARGET 2.
Since that date, the platform has been operating successfully and demonstrating the top quality and solidity of this infrastructure.
Michel SPIRI, Director of BDF Organisation and Developments, confirmed this success: “Concerning large amount payment systems, systems that are strategic both for the workings of economies and for the reputation of each Financial market, the Banque de France has often worked with Steria, in particular in Swift flows; this is probably why I was not surprised when no problems were reported to me about this technical connection project. This is something an IT manager appreciates since we all know this is not usually the norm”.
“Steria has been working in strategic areas for the Banque de France for over 10 years now. Over the years we have developed excellent functional and technical relations and are delighted with the success of this ambitious project. Steria proved it could implement a complex and stable architecture adapted to the demands of the Banque de France and to the Financial market’s requirements. The optimal delivery and customer satisfaction testify to Steria’s contribution to this project. To further illustrate this point, it must be remembered that this architecture enabled the French banking community to perform all financial market tests in the best manner possible (no service interruption on the SWIFTNet chain) as early as July 2007.” said Thierry DESCATOIRE, Executive Director Steria France.
About TARGET 2 The new TARGET 2 system operates on the basis of a SSP platform (Single Shared Platform). This platform is shared by European central banks participating in TARGET 2. However, the relations between each central bank and “its” banks (account keeping, implementation of monetary policy...) remain decentralized. This new system thus offers advanced harmonization of services rendered and single pricing for these services.
Three central banks in the Eurosystème (Banque de France, Banca d’Italia and Deutsche Bundesbank) jointly provide the TARGET 2 single shared platform and operate it on behalf of the Eurosystème.
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About Steria: www.steria.com
The leading end-to-end IT services provider in Europe for companies which consider new technologies a vital part of their business strategy, Steria focuses on setting up strategic partnerships with its customers in each of its key markets: the public sector, finance, telecommunications, utilities and transport.
Steria offers customers integrated services including consulting in core business processes as well as the development and operation of their information systems. In October 2007, Steria acquired the British firm Xansa.
The new group employs over 18,000 staff in 16 countries, including 5,000 in India. On December 31, 2007, Steria revenue amounted to ¤1.4 billion. The Group, headquartered in Paris, is listed on the Euronext Paris market.
Steria Group Press Office Isabelle Grangé Tel.: +33 1 34 88 64 44 e-mail: email@example.com Agence Wellcom Caroline Pascault - Nathalie Boissard - Gaëlle Breban Tél. : 01 46 34 60 60 E-mails: firstname.lastname@example.org - email@example.com - firstname.lastname@example.org
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