Nordea signs up to SwiftNet Mail

Nordea signs up to SwiftNet Mail

Scandinavian bank Nordea has signed up to use SwiftNet Mail, the secure person-to-person messaging system that operates on the IP-based SwiftNet network.

Speaking at the Sibos conference in Boston, Nordea's John Sagegg said the bank was planning to roll out SwiftNet Mail to select users in Q4.

The secure e-mail service will initially be used by staff in the bank's custody, corporate direct, legal and treasury departments.

Sagegg said SwiftNet Mail will replace current systems and procedures for transferring documents - such as e-mail with disclaimers and fax, post and courier services.

Swift launched its e-mail product in May following pilots with a number of banks including Clearstream, DnBNOR, FirstRand Bank, HSBC, Nedbank and Standard Bank.

The service 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's Paul Shelter told Sibos delegates that the system will also be rolled out to corporates and that pilots are being conducted with users of Swift's Score - Standardised CORporate Environment - service.

The SwiftNet Mail service is available for a one time fee of EUR8000 for the software plus a 20% yearly maintenance charge. There is also a fee of EUR0.50 euro cent per e-mail sent over the system.

In a bid to speed up and increase take-up of the service Swift is waiving the EUR8000 application fee until May 2008 and cutting cost of messages sent over the system to EUR0.25.

Furthermore, firms already signed up to the system will get a EUR2000 credit note for each new institution they sign up to the service.

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