The other day i was updating the post A News Bulletin Overview of the SWIFT Related Hacks, and started reading up about the Vietnam hack. The interesting thing about the Vietnam Tien Phong Bank hack was that the fraudulent transfers were routed through an external or third party provider used by the bank to connect to the SWIFT network – to you and me that is a SWIFT Service Bureau.
That got me interested and i started snooping around to find out more about SWIFT Service Bureaus. It led me to SWIFT’s very own Service Bureau Directory!
Pick a certified SWIFT Service Bureau or don’t bother….
…Unless you’re using SWIFT’s very own Alliance Lite 2 – more on that another day! But seriously, hooking up to SWIFT is a significant investment for any corporate – and so you shouldnt be using the SWIFT infrastructure and connectivity services of ‘Bob down the road’. If you’re going to use a Service Bureau you need one that meets SWIFTs own guidelines:
- Capabilities of the providers have been vetted and certified by SWIFT themselves
- Bureau’s in SWIFT directory meet the highest levels of security and reliability (day to day and disaster recovery) standards
- Service providers are the cream of the crop, and meet stringent international standards
- Providers are trained and certified in all aspects of SWIFT connectivity including ownership and operation of the SWIFT infrastructure
- SWIFT have been on-site and inspected and audited the SWIFT related infrastructure and processes for themselves
SWIFT Service Bureaus Compliance Requirements:
Check out:
- Details about the SWIFT Partner Program
- The difference between a ‘Standard‘ label and a ‘Premier‘ label SWIFT Service Bureau
- Information around the SWIFT Share Infrastructure Program
The Best SWIFT Service Bureaus:
The following information taken from the SWIFT Service Bureau Directory is true at the time of writing. Please note:
- The Standard / Premier label status will expire at a point, and will need to be renewed. So if you’re reading this in July 2017 some of the below listed Service Bureaus may no longer have either Standard or Premier status.
- Although the bureaus are listed in a given region, their services often span cross regions and are likely to be international (you need to check)
- See the SWIFT Service Bureau directory for up to date information:
SWIFT Service Bureau in Africa:
- Premier label Service Bureaus = 0
- Standard label Service Bureaus = 2
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- Kenya Commerce Exchange Service Bureau – http://www.kenexnbi.com
- Trustlink – http://www.trustlink.co.za/
SWIFT Service Bureau in North America:
- Premier label Service Bureaus = 5
- Expertus Technologies – www.expertus.ca
- SunGard AvantGard – http://www.sungard.com/
- Akshay Financeware – http://www.paycommerce.com/
- Axletree Solutions – www.axletrees.com
- Misys International Banking Systems (MIBS) – www.misys.com
- Standard label Service Bureaus = 3
- Eastnets Americas – http://www.eastnets.com/
- Expertus Technologies – http://www.expertus.ca/
- GXS – http://www.gxs.com/
SWIFT Service Bureau in South America:
- Premier label Service Bureaus = 2
- Business Computer Group Panama (BCG) – http://www.bcg.com.ve/
- Financeware Comerco e Servicos – http://www.financeware.com.br
- Standard label Service Bureaus = 2
- Bancared Service Bureau – http://www.asbanc.pe/
- RTM-Rede de Telecomunicaçoes Para o Mercado – http://www.rtm.net.br/
SWIFT Service Bureau in Asia & Pacific:
- Premier label Service Bureaus = 0
- Standard label Service Bureaus = 2
- Decillion Group – http://www.decilliongroup.com/
- Xchanging – http://www.xchanging.com
SWIFT Service Bureau in Europe:
- Premier label Service Bureaus = 5
- D+H – http://www.dh.com/
- EFIS EDI Finance Service – www.efis.de
- SIBS – Sociedad Interbancaria de Serviços – www.sibs.pt
- Fundtech Financial Messaging – http://www.dh.com
- Grupo Exceltia – www.grupoexceltia.com/
- Standard label Service Bureaus = 26
- Alliance Factors B.C.S. – http://www.alliance.ru
- AnaSys – http://www.anasys.com/
- Bellwood Service Bureau – http://www.bellwood.ru/
- BFK Ltd – www.sb-bfk.ru
- Borica – Bankservice – http://www.bobs.bg/
- Bottomline Technologies – http://www.bottomline.co.uk/swift/
- Bottomline Technologies SA – http://www.bottomline.co.uk/gtsuite/
- Broadridge Financial Solutions – http://www.broadridge.com
- Calastone – http://www.calastone.com/
- Cedacri – http://www.cedacri.it/
- Centric Financial Solutions & Services B.V. – http://www.centric.eu/
- CIS – http://www.cis-eu.net
- Digital Systems A.S.- http://www.digitalsystems.sk/
- Euro-Information – http://www.e-i.com/
- Fides Treasury Services – http://www.fides.ch/
- Finanz Informatik – http://www.f-i.de
- FL-Sistem – http://www.fl-sistem.hr/
- Information Technology Gateways – http://www.itg.am/
- Integrator IT – http://www.tii.ru/
- Kazakhstan Interbank Settlement Centre – http://www.kisc.kz/
- Krajowa Izba Rozliczeniowa S.A. – http://www.kir.pl/
- National Settlement Depository – www.nsd.ru
- Sungard Financial Systems France – http://www.sungard.com/avantagard
- TAS – http://www.tasgroup.it/
- Tieto Finland – http://www.tieto.com
- Van Den Berg Consulting and Service – http://www.vdb.de/
SWIFT Service Bureau in Middle East:
- Premier label Service Bureaus = 0
- Standard label Service Bureaus = 2
- Allied Engineering Group – http://www.aeg-mea.com/
- Eastnets – http://www.eastnets.com/
Oh sh1t! Our Service Bureau is not listed above….
Then call them up, and ask why not! Perhaps they are mid-review with SWIFT, or have another reason (I’m curious to know what it is, so please share it anonymously in the comments below) or maybe the Bureau just hasn’t bothered — in which case, i would be very worried.