Key aspects of every financial institution are: high quality customer services reduce operational costs and manage risks effectively. To improve these components financial institutions all over the world use unified systems and, in particular, SWIFT – to standardize their operations. 

Main benefits of the SWIFT system:

  • Guarantee of message transmission: SWIFT is the only organization in the world, that bears the financial responsibility for message delivery;
  • Safety of the data transferred: protection of payment orders and financial messages against fraud;
  • Global financial messaging and reference data standards. The use of standardised messages ensures that data exchanged between institutions is unambiguous and machine friendly, facilitating automation, reducing costs and mitigating risks.

SWIFT membership means you can connect to a secure network and exchange financial information with other users, including financial institutions and corporations. Over 11,000 SWIFT customers in more than 200 countries use the network to exchange millions of standardised financial messages securely and reliably every day.

SWIFT connection types

1. Direct connectivity

For this type of connectivity it is requested to have a full set of messaging and communication soft- and hardware components such as: Alliance Access or Alliance Entry, Alliance Gateway, SNL, HSM boxes or tokens and VPN boxes.

For financial institutions with estimated traffic up to 1000 messages or files per day SWIFT has developed special kits: Alliance Entry or Access Kits. The differences between these kits are the messaging interface and integration options included. The Kits price is significantly lower than the sum of the individual elements contained within each package. The predefined product selection simplifies your requirements definition, allowing you to reduce your overall project costs.

Main benefits of direct connectivity:

  • Working with a single vendor – SWIFT;
  • Advanced back-office integration (over MQ or SOAP protocols);
  • Message database is locate on the customer`s premises;
  • Data loss protection (Database Recovery);
  • Flexible routing and workflow management;
  • Increase straight through processing (STP) rates;
  • Possibility to create complex and diverse systems with own contingency sites.

2. SWIFT Cloud solutions

Cloud-based solutions are being embraced by more and more organisations, enabling complex operational functions to be outsourced to specialist external providers. The cloud can deliver real cost reductions, free up internal resources and allow you to focus on your core business.

Delivered by SWIFT – a global leader in financial processing technologies for over 40 years – our Community Cloud solutions combine the best of SWIFT skills, knowledge and execution practices, with the benefits typical of cloud solutions – a lighter footprint and faster time to market. Offered to banks, corporates and investment managers alike, our Community Cloud solutions are tailored to your specific requirements.

For new users the following SWIFT cloud-based solutions are available: Alliance Lite2, Alliance Remote Gateway, and Alliance Lifeline.

The main benefits of SWIFT Cloud solutions:

  • The easiest way to connect to SWIFT;
  • Easy to use, with full service packages;
  • Frees up internal resources for core activities;
  • Fully SWIFT-managed and operated.

3. Shared connectivity

This type of connection allows using SWIFT infrastructure of a SWIFT Service Bureau or other third party, provided there is mandatory soft- and hardware used.

A SWIFT service bureau is a user or non-user organisation that provides services to users regarding the day-to-day operation of their SWIFT connection in accordance with the terms of the Shared Infrastructure Programme. The services offered by service bureaux typically include sharing, hosting, or operating SWIFT connectivity components, logging in, or managing sessions or security for SWIFT users.

Service Bureau “Alliance Factors” fully complies with the Shared Infrastructure Programme, and offers new customers two connectivity options.

Shared connection with own interface (Alliance Access or Alliance Entry)

Financial institution uses own interfaces (Alliance Access/Entry) to connect to SWIFT and Service Bureau provides connectivity, secure equipment and other mandatory software to enable SWIFT access.

The main advantages of shared connection with own interface:

  • Message database is locate on the customer`s premises. A customer defines own procedures to maintain and store the data;
  • Advanced back-office integration (over MQ or SOAP protocols);
  • Data loss protection (Database Recovery);
  • Costs reduction on maintaining own infrastructure;
  • Comprehensive assistance and technical support by Service Bureau’s certified specialists.

Shared infrastructure via Alliance Access of Service Bureau

Financial institution shares a full infrastructure of Service Bureau to connect to SWIFT. The infrastructure is constantly supported and maintained by Service Bureau to keep high operational level. A user accesses SWIFT via internet browser. To secure connection Service Bureau uses VPN-encrypted channel.

The main advantages of shared infrastructure:

  • High resiliency rate for your SWIFT connection;
  • Cost effective;
  • Fully maintained by Service Bureau engineers;
  • Comprehensive assistance and technical support by Service Bureau’s certified specialists.

Additional information on Service Bureau “Alliance Factors” services, customers` feedback and contacts is located via the link.

News

01 June, 2017

Customer Review