Microsoft expands its partnership with SWIFT

Microsoft has partnered with SWIFT to create Alliance Connect Virtual, the companies announced. Customers will be able to deploy the service in Azure to accelerate payments modernization.

Additionally, Microsoft is integrating with SWIFT’s Customer Security Program. So far, BNY Mellon is using SWIFT solutions on Azure to send payments to New York’s Treasury division.

See also:

• Microsoft prepares for launch of Cloud for Financial Services
• Microsoft CVP Vasu Jakkal on why security is so important to Cloud for Financial Services

Microsoft partner Capgemini will support customer migrations to SWIFT infrastructure.  

“Over the last few years, financial institutions have been through seismic changes in the global economy. Among them has been the rapid increase and adoption of digital payment methods and the emergence of new cloud-native payment providers. To keep pace and unlock new value, these institutions are prioritizing the need to modernize their payment infrastructures to enhance the customer experience and support industry initiatives like open banking, real-time payments, and ISO20022 migration without compromising security and compliance,” wrote Bill Borden, CVP of Worldwide Financial Services at Microsoft.

Microsoft also announced updates to Cloud for Financial Services. Since generally available was announced in November, 2021, Microsoft has partnered with organizations like Accenture, Thought Machine, Bambu, BioCatch, ArganoArbela, Manbu, PwC, and Seismic. Cloud for Financial Services now has 90 partners, 25 solutions, and support in eight additional countries in Europe plus Australia. New capabilities include Intelligent Appointments, banking contact center, and customer intelligence supported by Dynamics 365 Customer Insights.

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