What is the purpose of Swift India?
Building best-in-class secure and standard messaging system for digitising the financial ecosystem in India.
We’re building the best-in-class secure and standard messaging system for digitising the financial ecosystem in India.
Through shared resources and capital, Swift India functions with the objective of enabling the harmonised exchange of structured financial information between domestic participants in the domestic Indian community. By doing this we’re able to reduce costs and risks, expand the reach of automated, standardised, and secure exchange of information, and enable innovation, interoperability, and open new markets for our community.
Swift India’s priorities are defined and guided by the Indian financial industry, our customers, and shareholders. In fulfilling our mission, we adopt a consultative approach, ensuring key stakeholder views are systematically sought and reflected in our actions. Swift India Solution Working Groups are an example by which the Company consults with our community, to shape market practices, standards and design of our channel to best meet your needs.
Bringing together innovation and interoperability
The Indian financial community is comprised of a variety of actors and agents, consisting of regulators, government agencies, banks, non-banking financial institutions, payments and securities market infrastructures, exchanges, repositories, corporate and retail customers, and their respective service providers.
To ensure timely execution of safe and secure transactions in this ecosystem, Swift India provides a highly reliable, secure, and efficient financial messaging platform for the domestic market. This domestic messaging platform enables the structured exchange of information with the following key features:
Message Types
- Real-time and bulk messages
- File transfer of structured and unstructured information
Security
- Role-based access control
- Maker-checker controls
- 3 layers of asymmetric encryption to ensure integrity, authenticity and confidentiality
- Hardware security modules
- Support for local Controller of Certifying Authorities (CCA) licensed public key infrastructure (PKI)
International and domestic standards:
- Support for international ISO 15022 (MT) and ISO 20022 (MX) message formats, including domestic to international message transformation
- Support for local market practices and flows
- Support for local addressing schemes such as the Indian Financial System Codes (IFSC)
Value-added message features
- Guaranteed delivery
- Delivery confirmation and non-delivery warning
- Broadcast messages
- Syntax and rule-book message validation
- Store-and-forward for when counterparties are not online
Back-office integration for straight-through-processing
- Message transformation
- Multiple protocols (including SOAP, MQ, file transfer, etc)
- Custom workflows
Premium support
- Standard 24/7 online and phone support
- Native support by back-office certified partners and services providers across Core Banking System, Treasury System, Cash Management Systems, Retail and Corporate Banking Systems. Payments Middleware and Enterprise Resource Planning Systems.
- Other premium support features such as onsite support, proactive network monitoring and health checks, coordinated business continuity exercises, and others. Visit Support & Training for more information.
To find out more about our services refer to Products and Services or Contact Us.
To order Swift India services refer to Ordering.