Financial messaging network Swift has launched SwiftNet Mail, a secure e-mail product that operates on the IP-based SwiftNet network rather than the Internet.
The interbank co-operative said last October that it was moving into the person-to-person messaging market and was piloting its SwiftNet Mail service with a number of banks.
The service, which is now commercially available, allows users to securely transmit messages containing sensitive data over SwiftNet using the e-mail package of their choice. Messages are despatched between member banks via SwiftNet using a software programme that sits on the SwiftAlliance interface device.
Swift says the service eliminates the need for complex push-server and desktop client software and claims the network is free from spam and phishing threats.
Commenting on the product, Mark Wooldridge, SVP, technology securities services at pilot bank HSBC, says: "There is no need to invest in any new e-mail packages, making the solution a natural complement to existing SwiftNet messaging and the same infrastructure is re-used for SwiftNet Mail."
Karl Van Gestel, director and head of ICSD and group connectivity, Clearstream Banking, says the product is easy to use: "You simply add .swift to the end of the addressee's e-mail address and the e-mail gets routed over SwiftNet automatically. End users need no formal training."
Swift says the SwiftNet Mail service is available for a one time fee of EUR8000 for the software and a "low per-message charge".