Financial messaging network SWIFT is set to offer cloud-based connectivity, from this year.
The network said that the new hosted setup would allow for much higher messaging volumes, while preserving security and reliability.
It will also eliminate the need for customers to maintain SWIFT-specific equipment onsite – all that will be needed for access is a secure USB token.
The Alliance Lite 2 setup will support all SWIFT message formats including MT and MX, as well as more automation assistance, training and support.
The network is going to begin testing in April, with a go-live in July. The cloud connectivity setup will run alongside the on-premise version, Alliance Lite 1, and will also be a failover alternative in case of any problems on version 1.
Alliance Lite is used by over 500 banks.