Microsoft, SWIFT ink global partnership deal

BANGALORE,INDIA: IT services provider Microsoft Corp today announced that it is signing a global partnership agreement with the Society for Worldwide Interbank Financial Transactions (SWIFT).

The announcement signifies higher level of close cooperation between the organizations, under which they would work together to deliver deep industry value and simplify SWIFTNet implementation for customers using Microsoft technology, said a press release.

The agreement between the organizations is likely to open opportunities for financial service providers and midsize to large corporations to quickly and easily connect to SWIFT.

"The dynamics of financial messaging are changing as institutions look toward technology as a competitive differentiator," said Amanda Westwood, global head of SWIFT's customer service division.

She added that the SWIFT customers could demand flexible messaging platforms that are cost effective to implement and integrate with their existing systems. The continued work of Microsoft would support SWIFT partners in expanding their solutions for their customers both within organizations and across boundaries.

"We are constantly listening to our customers' feedback, and what we're hearing from the financial services marketplace today is that they are looking to Microsoft, as a respected leader in enabling payments solutions, to provide increased flexibility beyond core SWIFT offerings," said David Vander, worldwide managing director of Banking at Microsoft.

He commented that BizTalk Accelerator for SWIFT would enable in faster and easier access from bank systems to payments networks, which thereby helps in ensuring that the customers receive the best possible solution to their business issues.