Swift, the global provider of financial messaging services, has accepted Union Credit Bank as a member of its global community of close to 9,000 financial institutions.
Union Credit Bank – a Miami-based, independent financial institution serving individuals and small business across Southeast Florida – is connecting to Swift’s messaging network via Alliance Lite, an internet-based service that enables corporates and small financial institutions to link up.
Fernando Capablanca, president and CEO at Union Credit Bank, comments: “Swift’s Alliance Lite will help us grow our business and get into other areas that traditionally would have been challenging for us. As a result, we can now run our international payment transactions over Swift, which will be faster and more secure as well as grow our trade finance business by allowing us to expand our international correspondent banks network.”
Union Credit Bank will integrate Swift Alliance Lite with a series of software solutions from ECS Financials called IMS, (Integrated Messaging Services). ECS Financials is a Swift-certified solutions partner and provider of architectural designs, specifications, message libraries, dashboards and solutions in the field of middleware and message-based communication.
David Pryce, managing director, Americas at Swift, says: “Extending our reach to smaller financial institutions is a big focus for Swift and Alliance Lite is a driving factor of this endeavour. With fast, easy and cost-effective access to Swift, smaller financial institutions can maintain a competitive edge in today’s challenging market by offering customers additional services, such as trade financing and international payments.”
Alliance Lite was launched in 2008 and today 200 banks and corporations globally are using Alliance Lite to access Swift.
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