Electra Information Systems has entered into a strategic alliance with SWIFT to be a wholesale partner for Alliance Lite, an Internet-based solution from SWIFT that enables corporates and small financial institutions to connect to SWIFT easily, securely and at low cost.
As a part of the agreement, Electra will distribute Alliance Lite to its investment management customer base through integration with Electra’s ACTioN application. Given the Internet-based capability of Alliance Lite, messages may be manually entered via any web browser, or input automatically and electronically through Electra’s ACTioN trade messaging platform.
“The launch of Alliance Lite from SWIFT is an important development, and we welcome it. Alliance Lite makes it possible for any investment manager to join SWIFT and to communicate electronically to financial organisations everywhere, and at low cost. Connecting to SWIFT is easier than ever before, and Electra applications now fully integrate SWIFT without the need for third party interfaces or service bureau providers,” said Ian Danic, managing director for Electra.
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