21 October 2017
Register now

Swift deploys NetScreen to secure global IP network

07 April 2004  |  562 views  |  0

NetScreen Technologies, Inc. (NASDAQ:NSCN) today announced that SWIFT, the financial messaging industry-owned cooperative, has selected and deployed NetScreen's purpose-built, integrated firewall and virtual private network (VPN) solutions to secure its new global IP data network infrastructure and IP-based messaging platform, SWIFTNet.

To date, SWIFT has deployed more than 3,300 NetScreen devices and the security deployment has been running successfully at 100 percent capacity since June 2003. SWIFT plans to deploy more than 10,000 NetScreen appliances by the time the migration is completed - currently planned by the end of 2004 - which is expected to represent one of the world's largest VPN deployments.

SWIFT provides data network connectivity in 200 countries for 7,500 financial institutions, including banks, stock exchanges and clearinghouses, to exchange millions of messages representing payments, securities, stock trades and treasury services. SWIFT is deploying NetScreen VPN concentrator systems, as well as NetScreen-5XT appliances in its new global IP network infrastructure.

Didier Verstichel, SWIFT's director of worldwide networks, said: "SWIFT is committed to delivering the highest possible levels of availability, reliability and security throughout its data network. As a result, the robust features, as well as the intrinsic performance and security benefits of NetScreen's products were key deciding factors for SWIFT."

The network is based on four separate IP networks leveraging four different network partners' solutions to ensure resiliency and availability at all times. NetScreen provides firewall protection and VPN functionality straddling all four networks and the Backbone Access Points (BAPs), ensuring a high level of security and network performance.

SWIFT's choice of security vendor was dictated by its need for reliable security and flexible networking functionality. NetScreen's support of the dynamic routing protocol BGP in its security systems enables SWIFT members' traffic to be dynamically re-directed, ensuring high service levels and reliability. Additional features, like a uniform graphical user interface across the NetScreen product line, simplify deployment for SWIFT and its' members, saving operational costs for both parties.

David Flynn, NetScreen's vice-president of marketing, said: "SWIFT's data infrastructure is one of the most robust security environments in the world. Our ability to offer a range of security devices to suit it various members' needs, coupled with our performance and management features, maximizes the quality and depth of security SWIFT is able to offer throughout its new infrastructure."

NetScreen-5XT appliances are deployed at each SWIFT users' network connection to establish secure VPN connections into the SWIFT networks. The NetScreen-5XT appliances are pre-configured by SWIFT to ensure that each member's VPN operates using highly secure, unique security codes, without any complex technical input required of the member.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.innotribe.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8833 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8632 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7710 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7186 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6790 views comments | 14 tweets | 23 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job