New York, 10 August 2009
SWIFT announced today that CIP (Câmara Interbancária de Pagamentos), an industry-owned market infrastructure that supports the Brazilian payments system, has joined the SWIFT community. CIP joins approximately 500 Latin American financial institutions and corporations already connected to SWIFT.
CIP will use Alliance Lite, a secure, easy, and low-cost interface for low-volume financial institutions and corporations to connect to SWIFT. As a part of this agreement, CIP plans to initially use SWIFT to offer new settlement services to its international customers.
Joaquim Kiyoshi Kavakama, CEO, CIP said: “Over the last few years we have seen the SWIFT community grow across Latin America and realized it was time to take a closer look. Alliance Lite gives us that opportunity by being a simple, secure and low cost interface to the SWIFT network, which is increasingly becoming a critical tool in the market. Going forward, changing market regulations could require standardized communications across international borders for payments and by being on SWIFT, we will be well positioned to respond to these potential new demands.”
Chris Church, Chief Executive, SWIFT Americas, said: “We are delighted to welcome another major market infrastructure to SWIFT, especially from Latin America. Market infrastructures have always been instrumental to the SWIFT community and CIP will add to that value. The addition of CIP is a great benefit to the Community and reinforces SWIFT’s commitment to our members in Latin America.”
SWIFT’s Alliance Lite was launched in 2008 and has nearly130 banks and corporations using Alliance Lite to access SWIFT with another 95 in various implementation stages. Alliance Lite was originally targeted for small banks and corporations with low volume transactions, however, the Alliance Lite service has been garnering interest from all types of institutions, large and small.
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organisations, securities institutions and corporate customers in more than 200 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For more information, please refer to our website www.swift.com or contact:
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JoAnn Healy
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mailto:joann.healy@swift.com