SunGard has become a fully paid-up member of Swift and launched a new MessageHub and outsourcing service for connecting clients to the international financial network.
The release of the MessageHub - which utilises the Mint messaging and middleware product from SunGard Business Integration - follows the announcement that SunGard Institutional Brokerage, the US firm's registered broker-dealer operation, has become a full member of Swift.
The new product will offer corporate treasuries, hedge funds, insurance companies and other SunGard clients the ability to access the bank-owned network under SunGard Institutional Brokerage's Swift Business Identifier Code.
As a registered Swift service bureau, the MessageHub will also offer eligible clients the option of outsourcing their entire Swift operations to SunGard. Services will be charged on a per message fee and/or a monthly hosting fee, based on usage.
Cris Conde, SunGard's president and chief executive officer says the intitiative will enable the firm "to offer Swift connectivity to many of our customers who do not use Swift today, including over a thousand corporate treasuries".
He says SunGard will offer its customers the choice of outsourcing their entire Swift operations and connectivity to the SunGard MessageHub, or simply accessing it as a messaging connectivity service into Swift. The MessageHub is hosted by SunGard Availability Services, offering embedded disaster recovery and operational resilience.