We are expanding options for customers moving to the cloud with an initiative to smooth customer migration to large public cloud providers, and a next generation private cloud solution.
Banks, corporates and fintechs are turning to cloud-based services to reduce costs, improve agility and resiliency, and streamline security and the burden of compliance.
Embracing this trend, and further supporting our community, we have developed Cloud Connect, an initiative to ease deployment for large platform providers such as Microsoft and Google Cloud. At the same time, we are also rolling out a new cloud platform, Alliance Cloud, which allows for higher volumes, more sophisticated messaging needs and connects customers directly to SWIFT services.
“Cloud computing is a key enabler of a faster, frictionless future and a powerful catalyst for innovative new services,” says Craig Young, Chief Information Officer, SWIFT. “Our community is seizing its potential, and we are committed to supporting them with a range of connectivity options reflecting their diverse approaches and breadth of needs. These new developments highlight that commitment, while also underscoring our unwavering focus on security and resiliency as we continue to adapt to an evolving marketplace.”
Cloud computing is a key enabler of a faster, frictionless future and a powerful catalyst for innovative new services.
Easing deployment for customers
Under the new Cloud Connect initiative, we will develop network architecture and automation templates for customers to ease deployment on ‘hyper-scale’ public cloud platforms such as Microsoft, who have become the first to build public cloud SWIFT connectivity, and Google Cloud.
While large banks, corporates and fintechs increasingly use such providers, they also require the same level of reliability and security they experience on-premises. Cloud Connect will provide a resilient and secure method of connecting to the SWIFT network.
SWIFT already has a proof of concept in place with Microsoft, building on work that started last year with the technology company’s treasury operations establishing a prototype SWIFT connection on Microsoft Azure and the successful testing of payment transactions.
We plan to begin customer trials on Cloud Connect later this year, with a community-wide service targeted for the second half of 2020.
Answering the needs of the financial industry
In addition, we’ve created a private, cloud-based connection to SWIFT services, Alliance Cloud. This will provide a robust option for institutions of all sizes that wish to host their messaging operations on SWIFT-managed infrastructure.
Alliance Cloud has been designed to scale quickly to meet changing customer needs while seamlessly integrating gpi, sanctions screening solutions and other SWIFT services. It maintains 24/7 availability and the highest level of security, while reducing customers’ total operating costs.
A phased roll out of Alliance Cloud will launch in 2020, starting in the second quarter.