Actuare joined SWIFT in November last year to provide interconnectivity for its customers with SWIFT users and other SWIFT enabled service providers. This was a result of SWIFT being selected as the default method of connection for solution providers and direct participants in TeX (TISA Exchange Limited). The decision to join SWIFT resulted from Actuare being one of the TeX solution providers and Actuare wanting to offer interconnection over SWIFT for ISO 20022 and FIN messaging generally.

The new service gives Actuare customers a one-stop solution for processing, integration and connectivity, and provides further choice for connecting to SWIFT. The service works seamlessly with security and fault tolerance end-to-end, so users do not need to have a detailed knowledge of SWIFT and can be assured of availability and security.

Charles Kilkenny, CEO of Actuare, said: "We are delighted that our expertise in SWIFT, which goes back many years, has enabled us to provide this new efficient service. It allows us to play alongside the other SWIFT messaging providers, offering a low cost fast track path to interoperability and migration to ISO 20022". Charles Kilkenny then went on to say: "We see this service as a hybrid offering rather than another hub, and it will enable Actuare users to connect effortlessly with other market participants through SWIFT and SWIFT enabled hubs".

Actuare's SWIFT messaging service is available to existing and new Actuare customers and is provided on a usage or subscription basis. Users will need to have an Actuare System which Actuare can host for the user. Users then select their preferred method to connect with participants, and can use Actuare to deal with matters such as standards compliance and versioning. The standard service employs Actuare's technical SWIFT address and the user is free to select their BIC (the ISO 9362 Business/Bank Identifier Code used to identify parties in ISO 20022). Other configurations are available to suit individual requirements.