SWIFT to establish public cloud connectivity to its network during 2022
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SWIFT to establish public cloud connectivity to its network during 2022 28 August 2022Belgium Reporter: Bob Currie
Image: AdobeStock/denisismagilov
SWIFT has declared that it will allow users to connect to its messaging network and applications through public cloud service providers including Amazon Web Services, Google Cloud and Microsoft Azure.
They will link to the SWIFT network via Alliance Control Virtual, a connectivity option allowing users to employ SWIFT virtual private network (VPN) connections with these selected public cloud providers, rather than needing to host hardware on premises in their own data centres.
The Brussels-headquartered messaging specialist says that this move will improve access to its messaging network, facilitating new innovation to promote resilience and security.
SWIFT indicates that moving to the public cloud will enable financial institutions to reduce costs, improve automation and enhance their compliance procedures without detriment to business security or flexibility.
With these goals in mind, SWIFT has been working with selected public cloud providers to ensure compliance with its Customer Security Programme (CSP), which is designed to strengthen protection for financial institutions against cyberattacks and to protect the integrity of the wider financial network.
SWIFT has been refining the new Alliance Connect Virtual service with a range of early adopters, including financial institutions and new digital banks, and is now in the final stages of testing. It expects to release the service by the end of 2022.
Commenting on the development, SWIFT chief product officer Stephen Gilderdale says: “Cloud technology has been game changing for the financial industry over the past decade and will be a key enabler of future forms and flows of money.
“We are proud to build upon our existing success with cloud strategies to help our community securely access the SWIFT network across the globe with ease and to benefit from the power of the public cloud.”
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Image: AdobeStock/denisismagilov 