Member-concentrator
Connectivity services provided by SWIFT members to low volume institutions
Key features
- For SWIFT users: use SWIFT with minimum effort
- For SWIFT members: turn your connection into a revenue source
|
Another choice to share your connectivity to SWIFT is through member-concentrator.
Member-concentrators provide SWIFT access to smaller institutions. They typically take care of the SWIFT administration, the connection to SWIFTNet and possibly some of the message transformation, therefore reducing the total cost of ownership of these smaller users.
Member-concentrator is an ideal solution for small users including corporates, investment managers and other securities players. You can choose from a list of member-concentrators that can offer these services.
SWIFT also awards labels to these providers to help users identify the most appropriate connectivity provider.
The technical operation is similar to a service bureau, but the business implementation is different as member-concentrators offer unique services:
- assisting the SWIFT user in applying
- ordering SWIFT products and services on behalf of the SWIFT user
- receiving SWIFT users’ invoices, with freedom as how to charge SWIFT users
- helping with basic service requests, although the SWIFT user can still call SWIFT support
- using an existing communication channel to link the SWIFT user and the member-concentrator
As a member-concentrator, this program offers you the opportunity to provide new value-added services to your customers.
Moreover, you can benefit from a reduction on items ordered on behalf of the SWIFT users. The concentrator must be a SWIFT member. SWIFT users join in their own name in an existing member/participant category and obtain a BIC8 for addressing on SWIFT.
For further information on using a member-concentrator, or becoming a member-concentrator yourself, contact your SWIFT account manager at your nearest SWIFT office or your SWIFT Business Partner.
| 
