Swift launches low-cost connectivity solution

Swift has launched Allliance Lite, an internet-based solution aiming to allow new low volume customers including corporates and small financial institutions to connect to Swift easily, securely and at a low cost.

The new solution is said to be delivered in days, and be quick to install. The pricing scheme enables customers to choose either a monthly flat fee or pay-as-you-go model.

It has been developed in close collaboration with 15 pilot customers. Alliance Lite requires standard internet connection and is secured with a Swift-issued hardware security token, aimed at providing the convenience of the internet without compromising the security of SwiftNet.

The interface supports both manual operations through a browser with message data entry, as well as integration with the back office though a lightweight autoclient.

Customers will be able to send and receive up to 200 messages a day. In addition, Swift’s larger users and partners can also use the system to allow their own customers to connect to Swift more easily, quickly and cost-effectively.

Commenting on the development, Swift CEO Lázaro Campos, says: “Last year, at Sibos in Boston, I promised to make Swift simpler. Alliance Lite is an important milestone in our delivery on that promise. Users who might not otherwise have benefited from Swift now can, and our existing customers can now use Swift to reach a broader range of counterparts.”

Swift is a member-owned cooperative that provides the communications platform, products and services to connect over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries.