Swift adapts for SMEs
(1 July 2008 – Global) Swift has announced plans to launch a new interface device that will allow access to its payments messaging network for small businesses.
The new 'lite' interface device will be provided on a USB memory stick and showcased at this year’s Sibos in Vienna in September.
The interface, to be called 'Alliance Lite', uses a standard Internet connection with a Swift-issued hardware security token, which can be provided on a USB memory stick.
The service is aimed at SMEs and financial institutions with low volumes that do not want to make the investment in connecting to Swift’s infrastructure, SwiftNet, themselves.
Once the token is activated, businesses can send payment instructions via Swift to their financial institutions in any format.
Marc Braet, Swift's regional director for Northern and Central Europe, said that the product, which is currently being tested by over 20 Swift customers around the world, will be presented and demonstrated at Sibos later this year.
He said that Swift also intended to develop a similar service for small to mid-sized fund managers.
The interface, to be called 'Alliance Lite', uses a standard Internet connection with a Swift-issued hardware security token, which can be provided on a USB memory stick.
The service is aimed at SMEs and financial institutions with low volumes that do not want to make the investment in connecting to Swift’s infrastructure, SwiftNet, themselves.
Once the token is activated, businesses can send payment instructions via Swift to their financial institutions in any format.
Marc Braet, Swift's regional director for Northern and Central Europe, said that the product, which is currently being tested by over 20 Swift customers around the world, will be presented and demonstrated at Sibos later this year.
He said that Swift also intended to develop a similar service for small to mid-sized fund managers.
Subscribe