SWIFT Launches SWIFTNet 7.0 and Alliance 7.0

SWIFT has launched SWIFTNet 7.0 and Alliance 7.0. Release 7.0 is a major and mandatory release aimed to provide a platform that evolves with business needs, is aligned with today’s technology and addresses priorities. It consists of a comprehensive set of new features and new tools providing many opportunities to reduce cost and risk, improve efficiency and increase flexibility. Many of these new features are available free of charge.

Release 7.0 will impact both the messaging (SWIFTNet) and connectivity (Alliance and third- party interfaces) environments. All customers will therefore need to upgrade their SWIFT interfaces to the 7.0 version. SWIFT recommends that businesses start planning and prepare budget allocations.

“We strive to limit the number of major releases and ensure that when there is one, we maximise the benefits for our customers. With this release, which contains many new features, I believe we have responded to what customers asked for: changes that make a difference and that help them win new business, reduce cost and manage their operational risk,” said Luc Van Bergen, product manager, SWIFT.

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