Alliance Lite2 connects customers to the SWIFT network, enabling them to exchange messages and files with other SWIFT users. It is now commercially available worldwide following successful pilot (beta) testing with financial institutions and corporations.
Alliance Lite2 supports all SWIFT message formats, standards and file types, as well as automated and manual exchange of messages and files. It also provides access to other services offered over the SWIFT network, including those from third parties. Because Alliance Lite2 is a cloud-based service, customers do not need to install or maintain extensive software or hardware at their site. Connection occurs via the Internet or a virtual private network (VPN).
SWIFT has also developed a full service offering to enhance the customer experience around Alliance Lite2. This includes assistance with the SWIFT membership process for new customers, as well as setup and 24/7 support. Optional services include automation assistance.
Cerner is one of the several corporations and financial institutions that took part in pilot testing of Alliance Lite2. Leonard Nick, Senior Manager, Treasury Operations, Cerner, said: " We needed a single connection to our banking partners who is cost-effective and provides the flexibility to add banks as our global operations grow. Alliance Lite2 will make it easy for us to use SWIFT without the need for additional equipment or a service bureau. "
Smaller SWIFT service bureaux are probably going to be squeezed out by this move by SWIFT. Look for more mergers and takeovers in the SWIFT service bureau market. The remaining SWIFT service bureau will have to provide real value add to stop all companies signing up for Alliance Lite2. For corporates joining the SWIFT world just got a whole lot easier.
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