Connection to S.W.I.F.T.




S.W.I.F.T. — Society for World-Wide Interbank Financial Telecommunications) is the leading international organization in the sphere of finance telecommunications. The main destinations of S.W.I.F.T. activity are provision of effective, reliable, confidential and secured from unauthorized access to telecommunication servicing for banks and implementation of works on forms and methods standardization of financial information exchange.

Brief information

S.W.I.F.T. is an international banking consortium with headquarters in Brussels — organization which carries financial responsibility for message transfer between users through its network. Messages content is determined and controlled by their senders and receivers— network users. It is important to note that SWIFT does not manage the assets or accounts of its clients and does not implement clearing and calculations on operations on behalf of client.
Any organization could be a SWIFT member according to SWIFT Board of Directors which carries on the same activity as other Member-companies and realizes transfer of international financial messages. With the assistance of National Group SWIFT Board of Directors defines requirements relevant to SWIFT Chart and local legislation of the country.

The procedure of new user connection to SWIFT system is made every month and divided into two parts :

1. Organizational (entering to SWIFT society in the definite category of user) :
— Filling and sending of entrance application to SWIFT (SWIFT Undertaking);
— Filling of entrance documents in electronic form (contract on software, order form for security equipment and etc.);
— Sending of bank readiness confirmation to SWIFT (Readiness Confirmation).

Here you can get more information.

2. Technical (organization of physical access of new user to SWIFT network) :
— Determination of user’s category;
— Preparation of documents package for sending to SWIFT;
— Development of hardware and software SWIFT system in financial organization and its direct connection to SWIFT system.

S.W.I.F.T. Advantages

— Reliability of messages transfer what is provided by network architecture, special order of messages sending and receiving due to «hot» reserving of each network elements;
— Network guarantees absolute security by multilevel combination of physical, technical and organizational secure methods, provides full safety and privacy of transferred data;
— Reduction of operational expenses in comparison with telex communication. For instance, price for one standard message (up to 325 byte) does not depend on distance but high intensity of exchanges decrease the cost so much that it becomes lower than cost of analogue transfers via telex or telegraph;
— Quick method of messages transfer to any place of the world. Time of message delivery is 20 minutes, it could be reduced to 1-5 minutes (urgent message) what exceeds the figures of separate communication channels. The message reaches the addressee more quickly due to reduction of intermediate stages in the network. So the similar transfer via telegraph takes approximately 90 minutes. In case when sender is switched with receiver in online mode data transfer is realized in less than 20 seconds;
— As all payment documents enter the system in standard form this enables automation of data processing and raise effectiveness of bank work. Fixation of implemented transactions gives an opportunity of full control (audit) over all instructions and daily automated report making;
— In view of international and credit turnover is more concentrated on SWIFT users the competitiveness of SWIFT bank-members is growing;
— SWIFT guarantees financial security to its members if due to the fault of the society the message was not delivered to the addressee during a day SWIFT is responsible for all direct and indirect costs which were made by the Client because of this delay.

Tariffs

 

Telecommunication access to S.W.I.F.T.

Service name One-time payment (manat) Monthly payment (manat) Note
  Access to S.W.I.F.T. system with 64K/8 K speed (end equipment price is not included)
1 650,00
795,00
 
Router management - equipment required for S.W.I.F.T. service
  CISCO 17xx
320,00
170,00
 
  CISCO 26xx
320,00
375,00
 
  VPN Box hot reserve saving  
36,00
 
  Modem hot reserve saving  
25,00
 
  Modem hot reserve saving  
36,00