SWIFT In The Cloud Gains Traction With Corporates


By Denise Bedell

 

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SWIFT service bureaux “in the Cloud” may offer corporates the best of all worlds—the security, functionality and volume capabilities of a hosted solution without the need for complex hardware, and the ease of an Alliance Lite implementation.

 

National Grid is one company that has embraced a cloud-based service bureau. The UK utility is live on Bottomline Technology’s SWIFT Access Service—a SaaS SWIFT connectivity solution.

 


Mark Flawn, assistant treasurer at National Grid, said cloud-based access fit with a group-wide initiative to use remotely hosted solutions. “We are able to achieve better results by using a cloud platform, as it removes the overhead of maintaining the infrastructure on our own servers which in turn frees up both our treasury and IT resources.”


Rapid on-boarding allowed the utility to save on implementation time and cost, get live—and see benefits—quickly, and thus helped build a strong internal business case for SWIFT access.