Alliance Connect Virtual (ACV) is a software-based solution offered by Swift, the world's leading provider of secure financial messaging services. ACV is designed to enable financial institutions to connect to the Swift network in a Public Cloud environment. It means that hardware VPN boxes can be virtualized, for example, in Amazon Web Services (AWS).
Swift Alliance Connect Virtual comes in different flavors, depending on the connectivity type: Bronze, Silver, or Gold. It can also be deployed on the Public Cloud provider of your choice: AWS, Microsoft Azure, or Google Cloud. In this article aimed at individuals tasked with the installation and configuration of Alliance Connect Virtual, we will explore the tool's key benefits for institutions and cover what is required in order make use of it.
Benefits of using Swift Alliance Connect Virtual:
There are a number of advantages in using ACV to connect to the Swift network, including cost efficiency, scalability, alignment with compliance requirements, and even security. We'll consider each of these individually.
Cost Efficiency:
ACV allows financial institutions to connect to the Swift network without the need for dedicated hardware or physical infrastructure. This can lead to cost savings in terms of both initial setup and ongoing maintenance.
Scalability:
ACV is designed to be scalable, meaning that financial institutions can adjust their Swift connectivity capacity as their business needs evolve. This scalability can help organizations adapt to changing transaction volumes.
High Availability:
ACV offers high availability and redundancy features, ensuring that Swift connectivity remains reliable even in the event of hardware or network failures.
Security:
Swift places a strong emphasis on security, and ACV is no exception. It is designed to meet stringent security standards and compliance requirements, helping financial institutions protect sensitive financial data.
Remote Access:
ACV enables remote access (such as AWS Console) to Swift services, which is especially valuable in situations where employees need to work from different locations.
Integration:
ACV is often designed to integrate with a financial institution's existing systems, making it easier to incorporate Swift messaging into their operations.
Compliance:
Swift services, including ACV, often come with compliance features to help financial institutions adhere to regulatory requirements and reporting obligations.
Streamlined Operations:
By providing a virtualized and centralized environment for Swift connectivity, ACV can streamline operations and reduce the complexity of managing SWIFT connections.
Global Reach:
Swift is a global network used for secure and standardized messaging in the financial industry. By using ACV, financial institutions can connect to a vast network of other financial institutions and markets around the world.
How to deploy Alliance Connect Virtual
The following guide outlines the key prerequisites to set up the environment for the Alliance Connect Virtual within the AWS public cloud environment. It is intended for individuals tasked with the installation and configuration of Alliance Connect vSRX VPN instances.
Requirements
In order to be able to implement Alliance Connect Virtual, below requirements should be met:
- Set up the AWS account for the vSRX VPN instance. This step is essential before proceeding to place an order on swift.com, as the account number is necessary for the form.
- Order Alliance Connect Virtual Bronze on www.swift.com. Our experts can help with placing the order.
- Possess AWS Management Console access along with Administrator IAM privileges, enabling you to create VMs, manage associated objects, and configure Transaction Gateway.
- Establish a Virtual Private Cloud (VPC) dedicated to Swift applications, including SNL and other messaging applications. In this document, this VPC will be denoted as the APP VPC.
- Find "vSRX Next Generation Firewall (BYOL)" on AWS Marketplace, subscribe to it and accept the End User License Agreement.
- Ensure that your institution has a user who has access to swift.com and Shared Documents. This access is necessary to obtain the Cloud Infrastructure Definition (CID) file, which is used to create VPN connectivity in the cloud environment.
Objects created by CID files are as follows:
- Virtual Public Cloud (VPC)
- Elastic Compute Cloud (EC2) Instance
- DynamoDB table
- Virtual Public Cloud CIDR blocks
- Network Interface
- Subnet creation
- Route Table
- PrefixList
- Network Access Control List
- Amazon Security Groups
- AWS Key Management Service
- Roles for IAM => DynamoDB & KMS
- VPC Endpoint
- Internet Gateway
- Lambda Direct
- VPC Peering
- Transaction Gateway Attachments
CID File: The Instantiation Script
The infrastructure supporting Alliance Connect Virtual is established and set up using the CID (Cloud Infrastructure Definition) file provided by Swift. This CID file is a pre-configured CloudFormation (CFN) template that can be obtained by downloading it from swift.com after placing an order for Alliance Connect Virtual.
Upon availability for download, Swift sends an email notification to the user who initiated the e-order and the designated user (as specified on the e-order) with access to the CID file.
The designated user can subsequently log in to swift.com, visit the Shared Documents page, and initiate the CID file download by clicking on it.
Deployment
The deployment of the CID file can vary depending on the client’s infrastructure, the connectivity package, or specific requirements. Get in touch with our experts for explicit guidance on your specific deployment.
IntellectEU: Your Guide to Cloud Technologies
As the world moves ever more towards cloud-based infrastructure, financial institutions have an increasing number of tools to take advantage of. But discernment can itself be challenging. For that reason, working with an experienced Cloud Adoption partner can be invaluable.
IntellectEU has extensive expertise with Swift integration and cloud technologies, positioning the company perfectly to assist financial institutions in strategic decision making, technology selection, and practical implementation with these kinds of solutions. Speak with our experts today to learn more.
*Alliance Connect Virtual and Swift are trademarks of S.W.I.F.T. SC.
*Amazon, Amazon Web Services (AWS) and all related marks are trademarks of Amazon.com, Inc. or its affiliates.
