The acquisition extends SWIFTâs connectivity portfolio as Ambit Messaging Hub is a modular, multi-network, high-volume financial messaging solution that can be tailored to an individual customerâs needs with associated services. The solution will be marketed by SWIFT as AMH (Advanced Messaging Hub). SWIFT is already firmly established as a recognised supplier of interfaces for low, medium and high volumes with its Alliance product suite. The Alliance portfolio will continue to be sold, enhanced, maintained and supported.
SunGard will continue to support its MINT messaging solution, the predecessor solution to Ambit Messaging Hub. Customers using SunGardâs MINT solution for messaging will be able to work with SunGard and SWIFT to migrate to AMH.
The management and staff of SunGardâs Ambit Messaging Hub product line (approximately 20 employees) will transfer to a newly set-up SWIFT subsidiary as part of the deal and will be based in Mechelen (Belgium), Frankfurt (Germany) and Zurich (Switzerland). The subsidiary will be led by Hans Cobben, who has been heading the group within SunGard.
âWe are delighted to welcome the AMH team into the SWIFT family - they have done a great job at building a business with real growth potential,â commented LÃ¡zaro Campos, CEO of SWIFT. âAMH is an excellent addition to our existing interface portfolio. It is also a demonstration of how SWIFT is evolving its strategy and business model, building on its core competencies and underpinned by the right technology solutions. It is consistent with our SWIFT2015 strategy and has the firm backing of the Board.â
Ken Dummitt, president of SunGardâs AvantGard business unit, said, âThis agreement strengthens the relationship between SWIFT and SunGard. It brings together a combined network of more than 9,000 financial institutions and 2,500 corporations. For SunGardâs corporate customers, it means they will have a single point of connectivity to their bank partners via SunGardâs AvantGard Ecosystem Communication Hub (Echos), a messaging platform that shares the same underlying technology as SWIFTâs AMH. Moving forward, SunGard will focus on corporate-to-bank connectivity and corporate-to-corporate connectivity.â