SWIFT announced Wednesday at Sibos that it has extended Alliance Lite2, its cloud-based connectivity service, to business applications.
Alliance Lite2 for Business Applications allows selected application providers to combine the value of software applications with SWIFT connectivity in a single package, delivering end-customers global reach and secure financial communications across multiple business segments. With Alliance Lite2, end-customers are able to avoid the requirement to host and maintain their own infrastructure.
Alliance Lite2 for Business Applications enables application providers to:
- Easily integrate Lite2 with their software application without investing in their own infrastructure
- Offer efficient and standardised multi-bank solutions
- Connect their applications with more than 10,500 institutions in 215 countries
- Offer SWIFT connectivity as part of their value proposition, enabling a one-stop-shop solution
“After a very successful Early Adopter phase, SWIFT has now expanded the benefits of Alliance Lite2 into the software application space,” said Juan Martinez, Managing Director, SWIFT Software Business and the SWIFTLab. “Application providers can now combine the value of their applications with out-of-the-box SWIFT connectivity. For end-customers, this means the ability to reach more banks worldwide, rapid implementation and secure financial communications.”
Alliance Lite2 is available for cloud application providers in different business segments, including payments, cash management, trade, securities and funds. SWIFT said it would be further developed to new segments and markets; banking applications and on-premises software solutions.
Currently, nine software providers active in cash and treasury management have enabled 25 new corporates to connect to SWIFT using the new solution.
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