Visible AML

Products carrying the SWIFTAlliance plugin label (21/08/06)

The SWIFTAlliance Access plug-in label programme

The SWIFTAlliance Access plug-in label programme
Updated 15 June 2006

SWIFT Partner Solutions has a label programme to certify third-party products that are integrated in SWIFTAlliance, using the SWIFTAlliance Developers Toolkit (ADK). These products are developed by our partner companies. The SWIFTAlliance plug-in label is awarded to products that meet the following three conditions:
* the partner has submitted the project purpose and design to SWIFT for approval
* the partner is maintaining a development and support environment
* the product runs in a satisfactory manner in one or more live SWIFTAlliance Access user sites
Once these conditions are met, the product is fully integrated into SWIFTAlliance Access.

Each of the listed third-party products offers additional functionality, which is currently not available on SWIFTAlliance Access and not planned for implementation by SWIFT in the future. The products have been developed under the guidance of SWIFT to ensure adequate functionality within the SWIFTAlliance Access environment and to guarantee alignment with our quality and reliability standards.

Products carrying the SWIFTAlliance plug-in label.

FileAct case study: Reserve Bank of Zimbabwe

FileAct case study: Reserve Bank of Zimbabwe
Published on 6 June 2006

Anti-money laundering (AML) capabilities are an increasing focus of attention by central banks and regulatory authorities. Dr Gideon Gono, Governor of the Reserve Bank of Zimbabwe, explains how the local banking community’s SWIFTNet capabilities have been harnessed to support an innovative AML project. (...)

Enhancing SWIFT's interfaces & connectivity

Renewed focus on SWIFTAlliance add-ons line (TheSWIFTGlobe_Q3_2005)
The SWIFTAlliance interface portfolio includes a number of options, adapters and agents that provide specific additional functionality or make it easier for SWIFT users to integrate message flows with their own particular back-office systems. SWIFT is renewing its focus on this product line and has recently appointed a new Product Manager to oversee it: Paul Shetler. Shetler joins SWIFT from Microsoft, where he was Managing Director of the Financial Services Industry EMEA division. He will now use his expertise in retail banking, messaging, compliance and insurance to oversee the expansion of this important line of products for the benefit of all SWIFTAlliance users.
For more information, please contact paul.shetler@swift.com

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Swift sharpens commercial edge with new recruits
Financial messaging network Swift has plundered the banking and vendor community for new recruits in an effort to capitalise on the introduction of the IP-based SwiftNet system and drive a new five-year plan.
The recruitment drive is part of the Belgium-based co-operative's strategy to strengthen its commercial focus, particularly in product management and sales, says Swift CEO Leonard Schrank.

Swift's strategic evolution: provide greater cohesion between commercial activities and the market
"Now that the SwiftNet migration is complete, the spotlight is moving from our IT and operations to our commercial divisions," he states.

The company's executive committee is currently formulating a new five-year plan, dubbed Swift2010, which will be presented to the Swift Board and community by the end of 2006. (...)

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Enhancing SWIFT's interfaces and connectivity
Kosta Peric, Director of Interfaces and Connectivity Products, reporting to Kestens, has hired experienced leaders to evolve SWIFT’s connectivity and interface products. Paolo Bernini, who has extensive experience in business development and product management within the telecommunications sector, has worked for Telecom Italia, AT&T, Radianz and most recently Tiscali. As head of direct connectivity products, he is responsible for product management of all products needed to connect directly to SWIFTNet: the SWIFTNet Link, the connectivity packs, the VPN box, the hardware security module, and the secure IP network itself.

Paul Shetler joins SWIFT from Microsoft, where he was most recently Managing Director for the financial services industry at Microsoft EMEA. Shetler has also worked for Netfish Technologies (later IONA), where he also focused on their FS business, as well as at Oracle, where he was Senior Industry Director, responsible for their EAI and e-business strategy. Based in London, he will focus on the interface add-on business – the separately-charged options, agents and adapters of the SWIFTAlliance range of interface products - and will seek to broaden the business and technology offering in this fast-moving area.

Sibos 2005: compliance & AML

Sibos issues, Tuesday 06/09/05 (sibos 2006)

New strategic director calls for input from the SWIFT community on SWIFT2010
Gottfried Leibbrandt, SWIFT’s new director of strategy and development
"As far as transaction management tracking is concerned, says Leibbrandt, “we need to understand where we can realistically add value. What are people looking for? Can we, for example, make things easier in complex areas such as reference data and dealing with the company counterpart data needed for compliance with anti-money laundering regulations.” CIO Reach, Leibbrandt says, is about really reducing operational cost across the financial enterprise as banks’ IT systems become more middleware and architecture-driven “As more of the community deploy service-oriented architecture, SWIFT must see where it can play a role in standardising some of these services,” he says."

Transformation: Moving towards SWIFT2010
Leonard Schrank, CEO SWIFT
Leading to 2010
“Now that the community has all migrated to SWIFTNet, we need to focus on its real benefits in helping them cut the costs of interoperability, increase their automation in banking and securities processing, and help them manage their risk, especially in the new regulatory and compliance-oriented environment”

Other articles on AML
* KYC key to AML

SIBOS 2005 - Tools for AML

Special interest sessions in Copenhagen

Tools for Anti-Money Laundering (AML)

> Cross-market session
> Monday 5 September - 11:00-12:30
> Organised by: SWIFT

Several vendors specialise in analytical products for Anti-Money Laundering (AML), fraud detection and prevention, watch list management and operational risk management to combat and prevent financial crime. Some of these vendors have developed AML plug-ins for SWIFTAlliance Access. How are these tools being used? What are the key considerations? The following are some questions that will be addressed:

• When we find there are mistakes in a watch list what is the procedure to get them fixed?
• Is OFAC increasing its checks or are they concentrating on specific countries?
• Is SWIFT safer than other networks in terms of money laundering and anti terrorism?
• Are there flows exempted from OFAC screening?
• What are the obligations of financial institutions in terms of results?

Confirmed speakers:

• Frank Behlmer, Managing Director, Global Payment Services, Bank of New York
• Vincent Dupuis (moderator) AML Product Manager, Viveo COGNITIVE SYSTEMS
• Joseph Frank, Senior Vice President in charge of wire monitoring program, Compliance Risk Management,Anti-Money Laundering/OFAC, Bank of America
• Peter Haener, Attorney at law, Executive Director Compliance, UBS AG