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SWIFT to deliver end-to-end security
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14 September 2009
In a deal that promises to deliver secure, reliable and proven messaging solutions to market infrastructures, SWIFT has signed a framework agreement with four key solution providers. “Customers in this space are looking for an end-to-end approach, in terms of selecting all the key components all together to set up a complete solution to serve high-value or low-value payment systems,” says Stephane Ernst, senior market manager, SWIFT. The four solution providers are BCS Information Systems, CMA Small System, Montran Corporation and Perago.
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“Our objective here is to make sure that our messaging layer is correctly linked to the application layer,” says Ernst. “When the customer is selecting the most important component of their solution, which is the application, automatically they have a very easy connection to SWIFT because our partners will prepare their applications to connect to the latest version of SWIFT.” A further benefit of the agreement is that project managers involved in the implementation of an application will be able to work together smoothly from the start.
When establishing or renewing their payment clearing and settlement systems on a domestic or regional level, financial market infrastructures are faced with an array of solutions and services. Their priority is to find a trusted third-party messaging provider, and increasingly, they are turning to SWIFT to fill that role. The result is that SWIFT is already the messaging hub for many clearing and settlement systems. Now, working together, SWIFT and the four solution providers will enable market infrastructures to: obtain compelling systems; ease the implementation phase for a new application; increase cost efficiency; and reduce project risks.
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