Users of Swift’s Alliance product suite can be reassured that there is no plan to “rattle the cages”. Targeting corporate customers as an area for expansion is one of the key points of Swift’s 2015 strategy and acquiring SunGard’s AMH is adding “yet another arrow to the quiver”. “We will not launch a campaign to bring our existing corporate customers to the AMH, it is another portfolio item available for them when they wish to upgrade their existing systems,” Campos said. However, for corporate customers, who may not necessarily be exposed to similar quantities of transactions, the acquisition acts as a value-added service when upgrade time is due. Swift traditionally provides complete messaging solutions for financial institutions that experience high volumes of transactions on a daily basis. He explained that the acquisition would be a “significant addition” to Swift’s existing portfolio of messaging solutions and, rather than acting as a replacement, it is a new member of Swift’s family of products. “Our 2015 strategy calls for us to take steps towards providing our customers with specific solutions to cater for their needs,” said Campos. SunGard’s AMH product line management and staff will transfer to the new subsidiary led by Hans Cobben, global payments and messaging solutions vice-president of SunGard bank and corporations business. Lázaro Campos, chief executive of Swift, said the acquisition, which he described as a “combination of strategic intent and opportunity”, is scheduled to be finalised at about the same time as Swift’s annual Sibos conference, which will be held in the Dutch capital of Amsterdam this year.Ī new Swift subsidiary will be established in the cities of Mechelen in Belgium, Frankfurt in Germany and Zurich in Switzerland. The Society for Worldwide Interbank Financial Telecommunications (Swift) is in the process of acquiring SunGard’s Ambit Messaging Hub ( AMH).
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