A powerful core to the SWIFT Integration Solution
For customers planning to connect to SWIFT – or running a current project which is likely to affect integration with the existing SWIFT setup – our integration platforms and software adapters are now available as a package of tools.
Alliance Access Integration Packages combine one or more software adapters with a SWIFT integration platform; either the integration capability built into Alliance Access Integration Platform (IPLA) or the standalone in the SWIFT Integration Layer (SIL).
Two different integration packages are available. The Standard Integration Package is an entry-level package for straightforward connectivity needs. For organisations with more complex requirements, the Full Integration Package provides all the tools necessary to implement any new integration with SWIFT.
Understanding your exact needs is an important first step for any integration project. As an optional extra service, SWIFT Consulting Services can undertake a systems analysis and design review before implementing and testing the final solution.
Alliance Lite2 is for corporates, banks and investment managers who want all the benefits of a cloud-based solution and prefer a direct SWIFT connection to their counterparties – whether that’s for processing 10,000 messages a day or a few transactions per month.
Using SWIFT for financial communications enables you to reach more than 10,800 financial institutions worldwide, benefiting from standardised messaging for payments, account statements, trade, foreign exchange, securities, investment funds and more. You can also combine multiple streams into a single channel, increasing efficiency and reducing costs.
Built, hosted and operated by SWIFT, Alliance Lite2 has been designed to suit the varying cloud connectivity needs of SWIFT customers. It can be used for manual and automated message exchange with additional options such as back-office integration to make the SWIFT Community Cloud a truly end-to-end solution.
As a SWIFT user, you understand the importance of being connected to SWIFT at all times. For additional comfort, you may wish to strengthen your safeguards to ensure access at all times.
A cold standby service based on Alliance Lite2, Alliance Lifeline allows you to continue exchanging messages and using SWIFT services if your primary access is disrupted. The service can be used to send and receive up to 10,000 messages each day.
While the interface is not connected to SWIFT under normal conditions, the service can be activated within 90 minutes if your normal SWIFT interface and back-up systems are unavailable. Once your main connection is restored, we’ll deactivate Alliance Lifeline at your request.
For faster recovery, our optional service Alliance Lifeline Premium is ready to send messages at any time. Please note that Alliance Lifeline is not an alternative to a back-up infrastructure.
Alliance Remote Gateway (ARG)
You’d like to connect Alliance Access or Alliance Entry directly to SWIFT without hosting connectivity products on your own premises. The solution: Alliance Remote Gateway, a private cloud-based connectivity solution for Alliance Access and Alliance Entry.
Alliance Remote Gateway enables you to focus on your core business and reduces your total cost of ownership for messaging related activities. There’s no need to purchase, operate and maintain your own Alliance Gateway, SWIFTNet Link or Hardware Security Modules (HSMs).
ARG supports all Alliance Access and Alliance Entry flows, and all FIN and InterAct messages and FileAct files. The service also supports all Alliance Access and Alliance Entry adapters.
Alliance Remote Gateway is operated from one of the SWIFT Operating Centres (OPC) and as such does not offer the same level of resilience as an on-premises Alliance Gateway. Contact your local SWIFT Office to verify whether Alliance Remote Gateway is right for your organisation.
This fully-managed, securely-hosted service screens your incoming and outgoing messages against the latest sanctions lists and instantly alerts you to any matches. It’s as simple as that.
All structured transaction formats are covered, including FIN, ISO 20022, SEPA and FedWire. Messages are screened in real-time to ensure you can act immediately to block or investigate suspicious transactions.
We maintain some 30 sanctions lists from all the major regulatory bodies, so your screening is always compliant with the latest requirements. You can select which lists you want to screen transactions against, and add your own lists to the service.
Our Sanctions Screening service has workflow and set-up options to fit your processes – yet with virtually no software to install, the solution is also fast and cost-effective to deploy and use.
With Sanctions Screening, your institution can be up and running quickly, ensuring your sanctions screening obligations are always fully covered.
As a compliance professional, you need to balance complex demands. Regulators expect banks to maintain strong compliance programmes and demonstrate their effectiveness. The sanctions environment is dynamic, with daily changes to sanctions lists, as well as frequent regulatory and business changes. And, your systems must stop illicit transactions, identify sanctioned customers and PEPs – but let legitimate business continue unimpeded.
Our fully-automated Sanctions Testing product helps you meet these challenges by maintaining full control over your sanctions compliance processes while improving their performance and managing costs:
- Delivers comprehensive, independent quality assurance of your transaction, customer and PEP filters.
- Assesses filter models, fuzzy matching and false positives and iteratively improves performance.
- Ensures lists are correct and up-to-date.
- Captures, tracks and aligns your risk appetite.
- Maintains control and fully automates your sanctions testing and tuning.
- Enables you to compare your filter’s performance against that of peer institutions.
Sanctions Testing uses secure web-based technology. It’s easy to implement and integrate with your screening systems.
There are more than 1.3 million bilateral correspondent relationships across the industry. That’s a huge administrative burden for banks each time a relationship is added, or information needs updating. Yet it’s never been more important to ensure that due diligence on your correspondents and their downstream relationships is thorough, timely and accurate.
The KYC Registry meets the need for an efficient, shared platform for managing and exchanging standardised Know Your Customer (KYC) data. SWIFT has worked with the world’s largest correspondent banks to define a set of data and documentation that addresses KYC requirements across multiple jurisdictions.
It’s completely free to upload your documentation to the Registry and share it with the institutions you select. SWIFT validates the data rigorously, informs you if it’s incomplete or needs updating, and alerts your correspondents whenever your data changes
Ask your correspondents to share their information via the Registry for maximum efficiency.
If you’re responsible for Know Your Customer, anti-money laundering or sanctions compliance, you need to proactively monitor and assess financial crime risks right across your operations and network. Here’s how.
Compliance Analytics analyses your institution’s SWIFT payments traffic and delivers a global view of branch and correspondent activity across all group entities.
By benchmarking your traffic against aggregated message totals over SWIFT, Compliance Analytics shows your activity share in high-risk countries and corridors and alerts you to significant spikes, unusual behaviour or possible policy breaches. Your counterparties’ nested downstream activities are also identified.
Graphical views make it easy to filter and display the data to identify trends over time, by geography or counterparty, and understand where to focus investigations. You can also review the status of Relationship Management Applications (RMAs) to evaluate correspondent relationships at group level.
With no software to install, Compliance Analytics’ powerful analysis is easy to implement. SWIFT can also deliver these powerful analytics as a tailored reporting service for institutions where the full Compliance Analytics suite isn’t the right match
Banks – and increasingly corporations – are expected to check the names of customers, suppliers, employees and others against a variety of lists. These include sanctions, Politically Exposed Persons (PEP) and Relatives and Close Associates (RCA) lists.
While screening solutions are available, implementing and maintaining such solutions takes time and money – particularly with public sanctions lists changing daily and PEP lists continuing to expand.
SWIFT’s new Name Screening service offers banks and corporations an easier way of complying with sanctions and customer due diligence requirements. This secure online lookup tool allows banks and corporations to screen single names against sanctions, PEP and private lists.
Available from January 2017, Name Screening combines a screening application with automatic list updates, alerts and a robust case management system. Financial institutions can use the tool when onboarding new customers, or when carrying out one-off checks of individuals or entities. Corporates can use the tool to check the names of suppliers and customers.
You’ll be informed immediately if a name matches an entity on one or more lists. If no matches are found, you’ll have a full audit trail demonstrating that specific names have been screened. You can also create an alert and have it investigated by a dedicated team.
Hosted by SWIFT, Name Screening provides a high level of data security and confidentiality, safeguarded by SWIFT’s robust security standards.
Web-based screening of individual names is SWIFT’s first step in developing a comprehensive name screening solution.
In the second half of 2017, SWIFT will expand Name Screening to provide a batch screening solution for customer, supplier and counterparty databases. Users will be able to automate screening and apply different screening configurations to determine which names are screened against specific lists.
Payments data quality services
Payments Data Quality is an advanced reporting and data analytics service that enables you to evaluate the quality of originator and beneficiary information in your SWIFT payment messages. It allows you to assess payments data quality across your global operations and with your correspondents, monitor information required for compliance with FATF Recommendation 16 and investigate specific data quality issues.
We’ve worked with the industry to develop Payments Data Quality in line with our community-based approach to financial crime compliance services. The result: a centrally hosted solution that mutualises costs for the industry and eliminates the need for system installation or integration on-site.
Payments Data Quality enables banks to consistently apply an agreed set of validation rules based on FATF 16 guidelines and will also facilitate the development of industry standards.
It provides the benefit of a single, global overview of all payment messages with all your correspondents and branches and costs far less than implementing an in-house solution.
Payments Data Quality is part of SWIFT’s expanding Compliance Analytics portfolio. It is available as a standalone service, even if you aren’t a Compliance Analytics customer. Add it for a very cost-effective annual fee, based on your message volumes.
A global payments reference data utility for collecting, managing and delivering high-quality payments reference data
As a financial institution or corporate, you handle multiple to thousands of commercial and/or treasury payments per day. At the same time you are more and more challenged by a growing number of industry regulations such as SEPA, MiFID, ao., which force you to produce payments always more efficient and generate accurate and timely regulatory reports in addition.
Inaccurate or delayed payments/reports may result in financial loss, unsatisfied customers/ suppliers, correspondent fees and penalties from regulators
Having access to extensive and accurate reference data is therefore paramount.
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