CONNECTIVITY

 

Connection of the new users every month

 

The process of connecting to SWIFT consists of two stages:

 

  • Joining a financial institution as a member of the Community SWIFT SCRL (preparing of the documents and sending them to SWIFT)

1.      Preparing and sending SWIFT Undertaking

2.      Preparing admission documents in e-form (software agreement, ordering forms, etc)

3.      Sending Readiness Confirmation

 

  • Creating a SWIFT hardware-software complex within the financial institution and its direct connection to SWIFT

 

 

There are three possible ways of connection to SWIFT: direct connectivity, shared connection and Alliance Lite2.

The whole procedure of becoming a SWIFT user takes at least 2 months for shared connection and not less than four months for direct connectivity.

 

Direct connectivity


Create your own SWIFT CBT (Computer Based Terminal) hardware and software complex, installed directly on the territory of the connecting user. User’s CBT is physically connected to the SWIFT network and fully serviced by the organization.

 

 

Shared connection

 

Using CBT of the parent financial institution in a divided mode (Shared Connection), or connection via Service Bureau. In this case, connecting organization shall be fully responsible to SWIFT for arranging the safe operation of the connecting user.

 

Shared Connection scheme developed by SWIFT to connect the parent organization of subsidiaries, or affiliates, although it can be used by a third-party. Details of connection to the parent financial institution should be identified directly by the financial institutions that provide this service.

 

Alliance Lite2

 

Alliance Lite2 provides a cloud-based connection to the SWIFT network and related applications and services. Easy to use and cost-effective, it lets you exchange all SWIFT messages and file types and use secure Browse services from SWIFT and market infrastructures.

 

 

In different countries Service Bureaus are organized in order to reduce connection costs and costs associated with both the technical side, and with the management of complex SWIFT.

 

Service Bureau - a non-financial organization established under the direct supervision and an annual audit of SWIFT (Belgium). Service Bureau has no right to send and receive SWIFT messages on their behalf, eliminating competition from financial institutions. All the licensed Service-bureaus are published on www.swift.com

 

 




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