New York, August 12, 2013 - SWIFT, the financial messaging provider for more than 10,000 banking organizations, securities institutions and corporate customers in 212 countries and territories, announces that Susquehanna Bank has joined the SWIFT network using Alliance Lite2, a cloud-based connectivity solution.
Simple, secure and cost effective, Alliance Lite2 connects customers to the SWIFT network, enabling them to exchange messages and files with other SWIFT users. It supports all SWIFT message formats, standards and file types, as well as automated and manual exchange of messages and files.
Alliance Lite2 also provides access to other services offered over the SWIFT network, including those from third parties. Because Alliance Lite2 is a cloud-based service, customers do not need to install or maintain extensive software or hardware at their site. Connection occurs via the Internet or a virtual private network (VPN).
"Alliance Lite2 makes it easy for us to use SWIFT for our secure financial messaging, so we can stay focused on our clients and our business," says Neil Orechiwsky Managing Director of Capital Markets, Susquehanna Bank. "With little upfront cost, around-the-clock support, and the ability to customize our subscription, Alliance Lite2 was the right option for us to connect with the SWIFT network as we expand our Foreign Exchange and International Services offering."
"Alliance Lite2 combines SWIFT's world-class security and reliability with the simplicity of a cloud-based connection," said Chris Church, SWIFT Chief Executive Americas and Global Head of Securities. "It's great for all types of SWIFT customers, including banks like Susquehanna, corporates, investment managers and broker/dealers, who want to connect to SWIFT in a way that evolves with their needs."
Susquehanna Bank holds assets totalling more than $18 billion. The addition of Susquehanna brings the percentage of banks with assets over $5 billion on the SWIFT network to 96%.
About Susquehanna Bank
Susquehanna Bank provides banking and financial services at 261 branch locations in the mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc., a financial services holding company with assets of more than $18 billion and 3,400 employees. Through Susquehanna Wealth Management, the holding company offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services, with approximately $7.7 billion in assets under management and administration. Susquehanna also operates an insurance brokerage and employee benefits company, a commercial finance company and a vehicle leasing company. For more information, please visit http://www.susquehanna.net/.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. 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.
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