Reliability and support ensure secure financial messaging over decades
What is our primary use case?
We use SWIFTnet FIN for almost everything, including international payments and sending files. It's essential for various financial messaging, such as file act, empty messages, and XML 2022.
What is most valuable?
The most valuable feature of SWIFTnet FIN is its reliability. For a bank, reliability is the most critical aspect. We also appreciate the extensive support facilities available worldwide. SWIFTnet FIN's services provide us with reliable connections to entities like European Central Bank, and we plan to join CLS as a direct member through SWIFTnet FIN. The store and forward feature, along with real-time messaging services, are crucial for our operations. Their security measures and compliance with CSP program ensure the highest safety standards. Audits and assessments by companies like KPMG and Ernst & Young further validate SWIFTnet FIN's reliability.
What needs improvement?
While SWIFTnet FIN is a robust system, there is room for minor improvements in scalability and installation complexity. Simplifying installation processes, especially for new users, could enhance its usability. Additionally, the integration of AI features, although not urgent, would be a beneficial future enhancement.
For how long have I used the solution?
Our organization has been using SWIFTnet FIN for more than twenty years.
What was my experience with deployment of the solution?
Deployment is quite straightforward though it might seem complicated from an outsider's perspective. However, with proper documentation and some experience, the installation process becomes manageable. We typically involve multiple team members during installation.
What do I think about the stability of the solution?
Stability has been excellent. There was a minor incident a few weeks ago, resolved within half an hour, highlighting the robustness of SWIFTnet FIN's systems.
What do I think about the scalability of the solution?
SWIFTnet FIN is fairly scalable, with a scalability rating around seven to eight. Although there's room for improvement, it generally meets our needs.
How are customer service and support?
SWIFTnet FIN provides excellent customer service and technical support. During recent HSM upgrades, they were very helpful in resolving new challenges swiftly, proving their commitment to customer support.
How would you rate customer service and support?
Positive
How was the initial setup?
The initial setup can be challenging for new users due to the complexity of the procedures. However, for experienced users, the detailed documentation provided by SWIFTnet FIN makes the process navigable.
What about the implementation team?
We involve a team of about four to eight people for software installations. Our administrators handle live site installations, while business analysts and developers manage other environments.
What was our ROI?
Quantifying ROI is challenging as administrators, but SWIFTnet FIN allows us to offer cost-effective services due to its reliability. Customers may choose services like store and forward or real-time messaging, potentially saving money.
What's my experience with pricing, setup cost, and licensing?
As a large bank, we find the pricing of SWIFTnet FIN services reasonable, considering the extensive array of services they provide. We do not find it expensive.
Which other solutions did I evaluate?
Our research into alternatives didn't yield any viable substitutes for SWIFTnet FIN.
What other advice do I have?
Overall, SWIFTnet FIN is a highly reliable system with excellent support and security measures. While it's not perfect in scalability and installation, the system aligns well with our needs. I rate it an eight or nine.
Which deployment model are you using for this solution?
On-premises
