Communication solutions provider Swift has announced that it plans to acquire the assets of US-based SunGuard’s high-volume financial messaging platform.
The platform, called Ambit Messaging Hub (AMH), acts as a messaging portal between back-office systems and outbound channels.
Swift’s acquisition of AMH is still subject to a number of closing conditions, though these are expected to be fulfilled by the end of this year’s Q3.
While the management and staff of AMH will retain their jobs and be transferred to newly-set up Swift subsidiaries based either in Belgium, Germany or Switzerland, the platform itself will be marketed by Swift under a slightly different name; Advanced Messaging Hub.
Lázaro Campos, chief executive officer of Swift, says: “We are delighted to welcome the AMH team into the Swift family; they have done a great job at building a business with real growth potential.”
The acquisition is part of Swift’s wider plans, as Campos adds: “AMH is an excellent addition to our existing interface portfolio. It is also a demonstration of how Swift is evolving its strategy and business model, building on its core competencies and underpinned by the right technology solutions.”
Han Cobben, executive vice-president of the global messaging division at SunGuard, explains to GTR how the platform differs from similar products on the market: “[Other systems] have very specific interfaces, making them more complex to manage and handle. AMH has a generic platform that is adaptable for specific use for businesses without touching the basic business platform.”
The AMH platform comes as a successor to SunGuard’s MINT system, which already enjoys some popularity amongst financial institutions, as Cobben explains: “AMH is a young platform, and a successor to the MINT platform that has been used by our customers for several years. Swift’s ambition for AMH is to target its top level banks and financial institutions.”
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