Eastnets introduces Managed SWIFT Service on AWS Cloud

Eastnets is a global provider of compliance and payment solutions for the financial services sector, supporting over 800 institutions, including 15 of the top 50 banks and 22 central banks, by ensuring safe participation in the global financial economy.

The service addresses challenges like regulatory compliance, operational complexity, and cybersecurity risks, offering institutions a secure, scalable, and cost-effective alternative to managing SWIFT in-house. Handling SWIFT connectivity internally usually demands substantial resources, infrastructure investments, and specialised expertise. Eastnets’ cloud-based solution aims to alleviate these burdens by integrating with existing systems and granting secure access to SWIFT functionalities.

Key Features of the Managed SWIFT Service 

• A comprehensive, fully managed SWIFT Service that encompasses SWIFT Alliance Access (SAA), SWIFT Alliance Gateway (SAG), SWIFT API integration, ISO 20022 translation, and secure message archiving;

• An integrated payment hub designed for advanced processing and workflow automation, featuring ISO 20022 translation, duplicate detection, transaction monitoring, and fraud prevention.

• Subscription-based pricing tailored to the contract duration and usage, offering financial institutions cost predictability and scalability;

• Compliance with SWIFT Customer Security Programme (CSP) requirements, including continuous monitoring, regular security updates, and strong authentication measures;

• Using AWS infrastructure for automatic failover and disaster recovery, ensuring uninterrupted operations even during system disruptions.

The Managed SWIFT Service is suited for banks, credit unions, fintech companies, and compliance professionals looking for dependable, affordable, and scalable SWIFT connectivity solutions. This offering leverages Eastnets' expertise and experience with accredited service bureaus in the UAE and the Americas, guaranteeing secure and scalable operations on a global scale.