Simplex Consulting, a systems integration and business process company, and Steria Limited, an IT services provider, have launched a SWIFT Service Bureau in the UK. It aims to provide financial institutions with a facility for the external management of their SWIFT operations, regardless of whether they already have access to the SWIFT network. The tow companies say it also opens up the opportunity for the same financial institutions to offer their corporate clients SWIFT connectivity via closed user groups.
The launch of the new Bureau reflects the growing trend for companies to outsource many of their IT systems and also demonstrates SWIFT’s plan to grow its global user base, say Simplex and Steria. “Given the deadline of December 2004 to migrate all SWIFT operations to SWIFTNet, SWIFT’s new IP-based messaging platform, financial institutions are currently evaluating options available to them,” they say. “For organisations new to SWIFT, subscription to the Simplex Steria Service Bureau will enable access to the SWIFT network, disaster recovery services and 24/7 access to technical and support services. For current SWIFT users, the Bureau can provide an additional cost-effective service to host a standby system for disaster recovery.”
The Bureau will have the ability to host Member Administered Closed User Groups (MA-CUGS), the private networks within SWIFT, preferred by SWIFT members who fear disintermediation. “A new way of extending the SWIFT network, this gives the treasury departments of large corporates access to real-time information, whilst maintaining utmost security levels” say Steria and Simplex. Simplex says it is one of only three SWIFT service partners in the UK, making it “ideally qualified” to develop the service bureau and has undergone stringent compliance procedures to gain this status. Steria will run the Bureau from its own established data centres and will deliver a comprehensive suite of value-added services via its software partner, Sterci.
“The new Bureau delivers an integrated product set over a reliable infrastructure, supported by first-class consultancy,” says Guy Lambert, Systems Integration Director at Steria UK. “Together with Simplex we’re giving organisations cost-effective access to SWIFT software and services, as well as real choice in which route they take.”
“We were keen to take advantage of a first-mover position to launch the Bureau, as was Steria,” adds Gerard Kenny, Commercial Director of Simplex. “The result has been an extremely effective relationship combining both companies’ specialist experience to great effect in the Service Bureau, which looks set to capitalise on an important opportunity based around SWIFT’s own growth plans.”
Alan Spalding, Business Manager at SWIFT London, describes the Simplex Steria Service Bureau is a” welcome addition to the many Bureaux which have been successfully launched internationally. SWIFT wishes both Simplex and Steria every success and look forward to actively supporting this initiative.”
Steria clients include Banque de France, Crdit Commercial de France, Caisse Nationale des Caisses d’Epargne, Euroclear, Natexis Banques Populaires, Banquue Gnrale du Luxembourg, (Luxembourg) and BRI (Switzerland).