Alliance Connect Virtual

History

2022: Launch technology to connect SWIFT to banks' cloud environments

On April 28, 2022, Google introduced a reference architecture designed to help financial institutions implement SWIFT technology on the Google Cloud platform.

Google Cloud wants to position itself as an effective public cloud for financial institutions - especially when it comes to solutions for data analytics, machine learning and cybersecurity. In this regard, the technology giant introduced an architecture that will help financial institutions implement SWIFT technologies in their cloud environment.

Google has launched an architecture to connect SWIFT to banks' cloud environments

The reference architecture is a plan that simplifies the implementation of new technologies. Google is developing a project that will make it easier for financial institutions to connect their Google Cloud to SWIFT. The technology will become available at the end of 2022, Google said.

{{quote 'Typically, organizations need to either place SWIFT infrastructure equipment on-site or in co-location locations, or consume SWIFT services from external third parties, "explained Google Cloud solutions architect Chris Page. Alliance Connect Virtual is a new network connectivity solution that enables SWIFT clients to deploy traditional SWIFT VPN physical hardware connections as virtual devices in the public cloud. }} Google Cloud Reference Architecture is a blueprint for how Alliance Connect Virtual should work with Google Cloud. This diagram consists of various components. These include SWIFT products that can work in Google Cloud, as well as hardware components that financial institutions and companies can deploy on joint sites. Other components are private VPC networks with public firewalls for egress/egress traffic between SWIFT, SWIFT VPN and SWIFT applications.

The architecture includes various Google Cloud services. Encryption is used to protect sensitive data. The keys are managed by Google Cloud Key Management. Network services are provided by Google Cloud Interconnect.

According to the technology giant, organizations that will use the reference architecture will receive an appropriate basis for data analytics and machine learning services. This should increase operational efficiency and reduce data center costs. The reference architecture of SWIFT in Google Cloud will be available from August 2022.^[1]

Notes