Strate has completed phase two of its migration project from the mainframe and network facilities at the SA Reserve Bank (SARB).
Phase one involved moving the mainframe of the central securities depository and electronic clearing and settlement system for equity transactions from the SARB's mainframe to a dedicated mainframe service provided by OutSource, the outsourcing division of PQ Africa.
Phase two entailed moving off the SARB's network infrastructure onto the international Swift (Society for Worldwide Interbank Financial Telecommunications) network.
Strate says the move was processed seamlessly despite testing time constraints.
The management of the Swift Alliance gateway and related networks forms part of a four-year outsourcing deal recently awarded to PQ Africa by Strate.
The agreement aligns itself closely with PQ Africa's strategy to establish OutSource as the leading outsourcing service provider to the financial and other sectors in SA.
"The fact that PQ Africa also provides outsourcing services to the National Payment System and the JSE Securities Exchange, to which the Strate system interfaces, makes this deal so much more significant and enables PQ Africa to add exceptional value to this sector of its client base," says OutSource MD Paddy McKinlay.
Strate CE Monica Singer says she is highly satisfied with the move.
"I am thrilled that both the mainframe and network migration have been processed so efficiently," she says "This success is, for the most part, due to the outstanding commitment and professionalism of the greater project team."
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