SunGard markets SwiftNet connectivity service to corporates
10 October 2006 | 2208 views | 0
SunGard today announced its support for SWIFTNet connectivity and messaging operations for corporates. Recent policy changes, approved overwhelmingly by SWIFT shareholders, have enabled corporates to join the industry-owned cooperative as a new participant category, whose membership until recently permitted only eligible financial institutions.
SunGard has been offering SWIFTNet connectivity and messaging with direct connectivity and installed SWIFT operations and messaging through MINT solutions for SWIFTNet. In 2003 SunGard launched a SWIFT service bureau, STN for SWIFT, for banks and securities firms to help bring another tier of organizations the same benefits that global banks garnered from SWIFT membership. SunGard has now expanded to a new sector, enabling SWIFTNet connectivity and messaging for corporates, and offers a continuum of services that help satisfy SWIFT requirements from the largest to the smallest operations.
Depending on their SWIFT operations requirements, corporates can connect to SWIFT in several ways using SunGard solutions. For many corporates implementing SWIFT operations, connectivity and messaging using SunGard’s STN for SWIFT, provides a cost-effective option. By outsourcing SWIFT operations, corporates do not need to build and maintain a complex SWIFT infrastructure or data center, nor do they need the in-house expertise required to run a SWIFT operation. Outsourced operations offer some customization and integration with corporates' in-house systems and are scalable to message volume increases.
Alternatively, corporates with highly complex SWIFT requirements can implement direct SWIFTNet connectivity and messaging operations, offered via SunGard's MINT solutions for SWIFTNet. Installed SWIFTNet operations offer the most customization and integration options and can handle any message type across FIN, FiIeAct, or Interact.
Joel Ludvigsen, director of partner solutions at SWIFT, commented, "In order to provide greater access to SWIFT's financial messaging network and facilitate global standards, we are keen to offer connectivity to SWIFTNet to as many parties as possible. SunGard's connectivity offerings for SWIFTNet can be tailored to suit banks, securities firms and corporates’ unique SWIFT operations needs. In turn, these organizations can capitalize on our industry standards and community reach, while leveraging the advantages this service offers to them."
Jim Ashton, group chief executive officer, SunGard Trading, Treasury and Risk Management, commented, "The recent addition of corporates to SWIFT will help expand the standardized and secure messaging SWIFT has provided to so many financial institutions. SunGard's ability to tailor SWIFT operations offerings to each institution's unique business requirements will help enable organizations large and small to participate in the SWIFT community."