A member-owned cooperative, SWIFTâs products and services are used by more than 8,300 banks, securities institutions and corporations in 209 countries to exchange over 3.5 billion standardized financial messages each year. As the development partner on this initiative, Bottomline will work closely with SWIFT to incorporate the key components of its award-winning solution for global payments, cash reporting, and custody, treasury and funds messaging into Alliance Lite. Formally launched at Sibos 2008, Alliance Lite is a new, Web-based connectivity option offering members direct, secure and low-cost access to the SWIFT network, enabling them to increase straight through processing (STP) while leveraging a single communication channel.
âFor corporations and financial institutions around the world, the introduction of Alliance Lite will provide faster, easier connectivity to the SWIFT network,â said Brian Haughan, Head of Products for SWIFT. âAs we evaluated development partners for this initiative, Bottomline Technologiesâ experience in delivering secure, Web-based payment products, as well as its experience with SWIFT messaging types and standards, combined to make them the partner we sought to provide the technical foundation for this important initiative.â
Bottomlineâs extensive capabilities offer the security, reliability and scalability required to address todayâs transaction and information reporting challenges. Offering users a single platform for originating and managing transaction activity worldwide, the companyâs modular solution leverages STP capabilities, including multi-currency and multi-language data integration, international payment standards, BIC and IBAN validation, and support for double-byte characters for clearing into Asia.
âTo partner with SWIFT on this initiative is a significant milestone for our company, and validates our solution capabilities and domain expertise within the global banking and financial services community,â said Rob Eberle, President and CEO of Bottomline Technologies. âBeing the technology provider for Alliance Lite will create exciting opportunities for our business, and we look forward to a long and mutually rewarding relationship with SWIFT.â
The launch of Alliance Lite by SWIFT is a central component of the Sibos 2008 agenda. With more than 7,000 attendees representing major financial institutions and enterprises from around the world, Sibos is the largest and most significant annual global financial services conference in the world.