Strate has embarked on a project to replace its Southern African Financial Instruments Real Time Electronic Settlement System (SAFIRES) Front End, or SAFE, and Money Markets Front End (MMFE) applications with a Centralised Messaging Front End (CMFE). The application, which will be accessible via Strate’s Web Portal, will have an exciting look and feel that is easy to navigate and includes all the current SAFE and MMFE functionality, yet provides new enhanced message management and reduces SWIFT and Gateway message traffic.
Currently, SAFE or MMFE is hosted by clients and maintenance and upgrades take place at the clients’ premises. Given that CMFE is a web-based solution that requires a URL to access by approved users, clients will no longer have to run expensive maintenance and updates themselves, as this will only be done on Strate’s end. Clients may only be requested to test the service from time-to-time.
Strate considers client security to be of utmost importance, which is why it has incorporated technology into CMFE that only allows approved users to access the system as well as the content that they are authorised to view. Users need to be approved and need to have valid log-in credentials in order to proceed.
SAFE and MMFE are expected to be decommissioned by the second quarter of 2016 and it will be replaced by CMFE.