Microsoft, SWIFT to bring cloud native payment solutions to Azure

Monday 29 October 2018 14:03 CET | News

Microsoft and SWIFT have partnered to bring a proof of concept to host SWIFT Infrastructure named SWIFT (IaaS).

This partnership is meant to enable native cloud payment transfers on Microsoft Azure to be fast and secure for banks, corporates, service bureaus, and other payment merchants.

SWIFT is a provider of secure financial messaging in more than 200 countries, across more than 11,000 institutions. The secure messaging is sent over the highly secure SWIFT network within each institution. Microsoft’s Cloud security and intelligence platform will facilitate the experience of SWIFT bank transfers. As more than USD 1 billion are spent in security each year, Microsoft Azure is providing a robust system for the digital age.

Microsoft’s treasury department is piloting this proof of concept as the group manages over USD 150 billion in assets. It also supports over USD 400 billion per year in SWIFT based payments in over 190 countries.

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Keywords: Microsoft, SWIFT, payment solutions, Azure, payment transfers, security
Countries: World