SWIFT extends Alliance Lite2 to business applications
New solution combines the value of software applications with SWIFT connectivity.
Sibos, Boston, 1 October 2014 - SWIFT announces today at Sibos it has extended its cloud-based connectivity solution, Alliance Lite2, to business applications.
Alliance Lite2 for Business Applications allows selected application providers to combine the value of software applications with SWIFT connectivity in a single package, delivering end-customers the advantages of global reach and secure financial communications across multiple business segments.
Alliance Lite2 provides a secure, cloud-based connection to the SWIFT network and related applications and services, thereby avoiding the requirement for end-customers to host and maintain their own infrastructure.
Alliance Lite2 for Business Applications now enables application providers to:
- Easily integrate Lite2 with their software application without investing in their own infrastructure
- Offer efficient and standardised multi-bank solutions
- Connect their applications with more than 10,500 institutions in 215 countries
- Offer SWIFT connectivity as part of their value proposition, enabling a one-stop-shop solution
Juan Martinez, Managing Director, SWIFT Software Business and the SWIFTLab, says, "After a very successful Early Adopter phase SWIFT has now expanded the benefits of Alliance Lite2 into the software application space. Application providers can now combine the value of their applications with out-of-the-box SWIFT connectivity. For end customers this means the ability to reach more banks worldwide, rapid implementation and secure financial communications."
Alliance Lite2 is available for cloud application providers in different business segments, including payments, cash management, trade, securities and funds. It will be further developed to new segments and markets; banking applications and on-premises software solutions.
Currently, nine software providers active in cash and treasury management have enabled 25 new corporates to connect to SWIFT using the new solution.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,500 financial institutions and corporations in 215 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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