Swift to offer corporate access via USB stick

Swift to offer corporate access via USB stick

Swift plans to launch a new 'lite' interface device at this year's Sibos in Vienna in September, in an effort to ease access to the payments messaging network for low volume financial institutions and SMEs.

The 'Alliance Lite' interface uses a standard Internet connection with a Swift-issued hardware security token, which can be provided on a USB memory stick. Once activated, the corporates can send payment instructions via Swift to their financial institutions in whatever format they want.

A beta version of the product is currently being piloted by over 20 Swift customers around the world.

Marc Braet, Swift's regional director for Northern and Central Europe, says that Swift will be performing demonstrations of Alliance Lite at Sibos. The service is aimed at smaller corporates that don't want to make the investment in connecting to SwiftNet themselves.

Swift also says it intends to develop a similar offering for small to mid-sized fund managers. 

The new interface device was first trailled by Swift CEO Lazaro Campos at Sibos in Boston last year. 

Comments: (0)