Microsoft Partners With SWIFT Payments Network - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Microsoft Partners With SWIFT Payments Network

The software developer said it plans to work more closely with the Society for Worldwide Interbank Financial Transactions.

Microsoft said Monday that it will work to make its technology more compatible with the global, interbank payments network operated by the Society for Worldwide Interbank Financial Transactions (SWIFT).

Under a formal partnership, Microsoft and SWIFT will work together to develop software tools that will make it easier for institutions that use Microsoft-based computer systems to connect their business systems to the SWIFTNet network.

"SWIFT customers demand flexible messaging platforms that are cost effective to implement and integrate with their existing systems," said Amanda Westwood, global head of SWIFT's customer service division, in a statement.

Part of the plan calls for Microsoft to build foundation technologies for SWIFT, on top of which Microsoft's development partners will be able to build solutions tailored for various industries and circumstances. Microsoft's financial services customers want the company to "provide increased flexibility beyond core SWIFT offerings," said David Vander, Microsoft's worldwide managing director for banking.

Microsoft is also developing versions of its software specifically designed to support the SWIFT network. Its BizTalk Server 2009 with BizTalk Accelerator for SWIFT product is designed to let financial institutions access a full set of SWIFT offerings, including adapters for SWIFTNet FileAct and InterAct, which link BizTalk Server and the SWIFT secure IP network.

Additionally, BizTalk Server 2009 will offer extended support of ISO 20022 message repairs, such as correcting FIN messages and supporting the needs of MX- and ISO 20022-based XML messages, according to Microsoft.

"The Microsoft BizTalk Server 2009 release further extends our commitment to ISO 20022 standards," said Robert Wahbe, corporate VP of the Connected Systems division at Microsoft. ISO 20022 is a standard for universal financial services messaging.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
COVID-19: Using Data to Map Infections, Hospital Beds, and More
Jessica Davis, Senior Editor, Enterprise Apps,  3/25/2020
Enterprise Guide to Robotic Process Automation
Cathleen Gagne, Managing Editor, InformationWeek,  3/23/2020
How Startup Innovation Can Help Enterprises Face COVID-19
Joao-Pierre S. Ruth, Senior Writer,  3/24/2020
White Papers
Register for InformationWeek Newsletters
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
Flash Poll