Alliance Lite is a new service from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) that gives low-volume users access to SWIFT and SWIFTNet without requiring an additional investment in technology.
The current version of the Alliance Lite portal is intended for corporates and smaller financial institutions; later releases will add functionality geared toward the securities industry.
The small footprint and Universal Serial Bus (USB) token authentication approach of the Alliance Lite offering make SWIFT connectivity portable for the first time.
Bank Identifier Code (BIC) and International Bank Account Number (IBAN) capabilities provide corporates the credentials they need to conduct cross-border transactions and give banks instant credibility in the international payments market.
Dual interfaces allow users to key in transactions manually via an Internet portal or automate their payments processes via their back-end systems.
SWIFT's new Alliance Lite offering signals a shift in its market approach away from the role of industry utility toward a role of value-added service provider.
(0 items)
