News from Sibos: SWIFT Extends Alliance Lite 2 to
business applications


SWIFT’s new “Alliance Lite 2 for Business applications” program allows selected providers to embed SWIFT Alliance Lite 2 connectivity into a single package with their value adding business applications. OpusCapita has been a part of the original pilot which was launched already in Dubai where Sibos was hosted in September 2013. Solution Manager Jukka Sallinen from OpusCapita has seen the market changing rapidly: “During my career working with bank connection technology for almost 10 years the shift to SWIFT based connections over direct bank connections hasn’t never been accelerating like this.”

OpusCapita has recently seen that in their customer base SWIFT has become a strategic choice even to mid-sized corporates whose business is very international. Implementing local banking protocols in the world where corporate payment and reporting have been harmonized into one ISO 20022 is more and more difficult to justify.  Harmonized way of connecting your banks also helps to harmonize the bank agreement process. And meanwhile according to statistics SWIFT traffic in all regions is showing double digit growth numbers.

“It is a paradigm Shift that we are experiencing. Unlike many industries one cannot say that banking industry as such has really been disrupted by innovations yet. But it feels that there is a large consensus that it will happen. And one small sign is that bank-to-corporate technology has largely become standardized and commoditized forcing traditional vendors into rapid evolution in order to survive.  For international corporate the right question is no longer can you afford to go to SWIFT, you should ask instead can you afford not to go to SWIFT.” Sallinen concludes.

OpusCapita has embedded Alliance Lite 2 as a part of its innovative purchase-to-pay, order-to-cash and cash management solutions for mid-sized and large corporates.  SWIFT Alliance Lite 2 connection is available directly from OpusCapita’s cloud solution also powered with SWIFT 3SKey authentication. The solution allows corporates to really focus on implementing harmonized and automated end-to-end financial processes.