AT&T Wins Swift Members

More than 280 members of the Society of Worldwide Interbank Financial Telecommunications (Swift) have picked AT&T for global VPN services

October 20, 2003

2 Min Read

WASHINGTON -- AT&T today announced that it has been awarded over 280 contracts by SWIFT (Society of Worldwide Interbank Financial Telecommunications) members for AT&T's managed network Internet Protocol Virtual Private Network Services (IP-VPN). SWIFT is the industry-owned cooperative that supplies secure messaging services to 7,500 financial institutions in nearly 200 countries.

The AT&T IP -- VPN network connects members to the SWIFT network that underpins SWIFTNet enabling SWIFT to provide international financial transactions between banks. These services help reduce costs, improve automation and manage risk. To date, AT&T has been selected by SWIFT members in more than 30 countries around the world, with over 100 contracts in Europe, Middle East and Africa, around 70 in Asia Pacific and around 100 in the United States, Canada and Latin America.

In the U.S., AT&T has secured more than 50 contracts from SWIFT members and has installed two backbone access points to SWIFTNet across the country. Financial institutions will utilize AT&T's managed network IP VPN network as the transport layer for the SWIFTNet messaging platform and to support SWIFTNet FIN and other applications. Additionally, remote access services enable connection to the network using dial-up connectivity. The U.S. headquarters are located in Culpepper, VA.

"A key factor in the selection of AT&T was its global footprint, operational excellence, cost-effective solutions, sound financial status and business synergy with SWIFT," said Mr. Didier Verstichel, head of Worldwide Networks, SWIFT.

AT&T has secured over 50 contracts in Europe, Middle East and Africa, around 70 in Asia Pacific and around 50 in Canada and Latin America. Many of the world's leading financial institutions have signed agreements with AT&T since its accreditation as a SWIFT preferred network provider.

Commenting on the success of the SWIFT relationship, Justin Sims, Senior Vice President for AT&T Global Services said, "SWIFT members need a reliable, scalable and truly global networking partner. I'm delighted that so many SWIFT members have chosen AT&T over such a short period of time. SWIFT members are telling us they value our truly global reach, flexibility in service delivery and security - both in terms of the quality and integrity of our network and our own position within the industry. Banks value our integrity and financial stability and are confident that we are a partner that is committed to meeting their needs."

AT&T became accredited as one of SWIFT's preferred network partners under a global agreement ( signed earlier this year -- part of the SWIFTNet migration program designed to upgrade the SWIFT network infrastructure using the latest IP technology.

AT&T Corp.

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