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OMG
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OMG’s Model Driven Message Interoperability (MDMI) Consortium Members Reach Important Milestones
for Broad MDMI Standard Acceptance

Needham, MA, USA – September 8, 2009 – Members of OMG’s™ Model Driven Message Interoperability (MDMI) Consortium, including FireStar Software, HSBC, Progress and SWIFT, have been collaborating on using the MDMI standard to provide multi-syntax support for ISO 20022 and have built a successful prototype. MDMI Consortium members continue to work together, along with other supporters of the ISO 20022 standard, to facilitate linking of the ISO 20022 Repository and the MDMI Standard. For more information on MDMI, please visit http://www.mdmi-consortium.org

MDMI is a critical standard for providing interoperability of information between ISO 20022 messages and the ISO 20022 Repository messages with other industry domain messages and reference models.

“SWIFT is very favorable to the development of an open standard for mappings through the ISO 20022 dictionary,” said Marc Delbaere, Head of Standards Strategy and Architecture, SWIFT. “OMG’s MDMI standard meets two important criteria to play a role in that space: it is an open specification and it provides a good technical base for leveraging the semantic value of the ISO 20022 dictionary.”

Aaron McPherson, Practice Director, Financial Services of IDC’s Financial Insights recently praised MDMI in a webinar on August 24 saying, “ISO 20022… will be used for convergence. I think the technology that will be used for this conversion back and forth [between different message formats] is going to be model driven message interoperability. MDMI’s sum is greater than the parts. It takes what’s been done with ISO and builds on its component parts and leverages it for standards conversion.”

“MDMI is receiving positive recognition from members of the financial services community. We look forward to continuing our work with members of the MDMI Consortium to bring the benefits of message interoperability to the entire financial industry,” said Richard Mark Soley, Ph.D., chairman and CEO, OMG.

Dr. Soley will be participating in two sessions at the SIBOS show in Hong Kong: the “Standardisation in Service Oriented Architectures (SOA)” panel on Tuesday, September 15 at 15:15 on the Standards Forum stand; and at the “Harmonisation of Standards” session on Thursday, September 17 at 10:15, followed by a demonstration of MDMI at 11:15.

About MDMI
Message interoperability reduces costs, increases data quality and increases revenue. By automating interoperability between disparate systems, MDMI improves communications, helps reduce errors and provides a way to address future business changes. MDMI lets financial institutions use standardized maps provided by message format owners (including standards bodies, financial institutions and others) to correctly map information in financial message formats including ISO 20022 (UNIFI) compliant formats. Facilitating and mediating payments information across a number of message formats is a high cost obligation for financial institutions. The standard also provides a migration path to new message formats. The MDMI standard specification was submitted by FireStar Software, IBM, Informatica, IP Commerce and VISA with support from Adaptive and SWIFT, and was published at the end of 2007.

For more information about the MDMI Consortium, see http://www.mdmi-consortium.org; for more information about OMG, visit http://www.omg.org/.  Questions about membership in OMG or the MDMI Consortium may be directed to Ken Berk at +1-781-444 0404 or ken.berk@omg.org

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About OMG
OMG is an international, open membership, not-for-profit computer industry consortium that in 2009 is celebrating its 20th Anniversary. OMG Task Forces develop enterprise integration standards for a wide range of technologies, including: Real-time, Embedded and Specialized Systems, Analysis & Design, Architecture-Driven Modernization and Middleware and an even wider range of industries, including: Business Modeling and Integration, C4I, Finance, Government, Green Computing, Healthcare, Insurance, Legal Compliance, Life Sciences Research, Manufacturing Technology, Robotics, Software-Based Communications and Space.

OMG’s modeling standards, including the Unified Modeling Language™ (UML®) and Model Driven Architecture® (MDA®), enable powerful visual design, execution and maintenance of software and other processes, including IT Systems Modeling and Business Process Management. OMG’s middleware standards and profiles are based on the Common Object Request Broker Architecture (CORBA®) and support a wide variety of industries.

More information about OMG can be found at www.omg.org.  OMG is headquartered in Needham, MA, USA.

Note to editors: MDA, Model Driven Architecture, OMG Logo, XMI, UML, UML logo and CORBA are registered trademarks, and OMG, Object Management Group, Business Ecology, Actionable Architecture, SOA Consortium, SysML, SoaML, MOF, MDA Logos, BPMN, OCRES, OCUP, OCEB, Green Computing Maturity Model, GCMM and Unified Modeling Language are trademarks of Object Management Group. All other trademarks are the property of their respective owners.

Last updated on 07/27/2010 by Stephanie Hit Counter

 
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