Press Release:

HP Launches SWIFT Solutions and Services for Financial Institutions

PALO ALTO, CALIF., JUNE 17, 2003

HP (NYSE:HPQ) today announced its SWIFT solutions and services to help financial institutions capture business value while reducing overall cost and risk from the financial industry's required SWIFTNet migration.

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

HP offers financial institutions a complete portfolio of SWIFT solutions consisting of hardware, software and implementation services.

"The industry's move to SWIFTNet is more than a technical migration. It positions SWIFT members to take advantage of new technologies to provide better service at a lower cost," said John Wallace, vice president, worldwide financial services, HP Services. "HP, with its portfolio of SWIFTNet-related solutions and services, is committed to helping institutions meet the challenge."

As one of only three authorized SWIFTNet services providers in the United States, HP has been trained and certified by SWIFT to provide financial institutions with full SWIFTNet compliance migration services. HP's SWIFTNet Standard Migration Services support the required migration and are delivered in conjunction with Capco, a services and technology solutions provider exclusively focused on forming the future of the financial services industry.

"SWIFT is excited about HP's commitment to assist our customers in migrating to and recognizing value from SWIFTNet," said Victor Abbeloos, who is responsible for partner solutions at SWIFT.

The HP portfolio reduces cost and risk by providing business value in addition to the migration process and preserving an institution's investment in its legacy applications.

HP SWIFT solutions focused on adding business value to the SWIFTNet migration process are:

  • HP SWIFT Services on .NET – HP SWIFT Services on .NET is a software platform that provides internal enterprise application integration and data integration. The platform manages many of the dynamic processing needs to comply with standards and regulations by offloading these tasks from legacy applications.
    HP SWIFT Services on .NET is built on the foundation of Microsoft® BizTalk Server and 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.
  • STP Bridge – HP is a reseller and integrator of Capco's STP Bridge solution. STP Bridge is a one-stop-shop solution that connects financial institutions with market infrastructure organizations, business processing outsourcers and any other type of financial organization. It is an integrated connectivity, messaging, transaction lifecycle management and operational business information monitoring solution.
    STP Bridge supports payments and securities transactions using a large variety of services and protocols such as SWIFT FIN, SWIFTNet services, OMGEO CTM, OMGEO Oasys Direct and FIX. STP Bridge is implemented on top of the Microsoft BizTalk Server and Accelerator for Financial Services (A4FS). STP Bridge provides true interoperability at a low total cost of ownership. Combining STP and HP SWIFT Services on .NET where appropriate provides complete external connectivity to market infrastructures and internal connectivity to applications.

The HP portfolio also includes the following solutions that preserve IT investments:

  • HP Solution for NonStop for SWIFTNet incorporates Software Integrator's STAR product for financial institutions deploying HP Nonstop servers for payment and back office systems. The solution delivers a direct connection from the HP NonStop server into SWIFTNet. It provides a middleware plug-in between SWIFTNet and the back-end system – allowing financial institutions to maintain legacy platforms while achieving SWIFT compliance.
  • The HP Solution for ST400, built using TLC's Interlock software, helps financial institutions protect investments in an ST400 environment. Extending the life of existing ST400 upstream applications, this solution contains HP upstream translations software that integrates legacy applications with SWIFT compliance without having to build all new interfaces.

HP has 25 years combined global experience servicing the financial industries and powers more than 100 of the world's largest stock and commodity exchanges, handles two of every three credit card transactions worldwide, supports 95 percent of the world's securities transactions and 75 percent of the world's electronic funds transfers.

HP is focused on delivering operational efficiency through IT infrastructure, business process support, enterprise management solutions and integration services to enable financial institutions to reduce overhead, manage risk and increase future growth and revenue while achieving institutional stability.

About HP

HP delivers vital technology for business and life. The company's solutions span IT infrastructure, personal computing and access devices, global services and imaging and printing for consumers, enterprises and small and medium business. For the last four quarters, HP revenue totaled $70.4 billion. More information about HP is available at http://www.hp.com.


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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

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.