Finastra and Anapaya raise security standards for digital transactions
Finastra's service bureau in Switzerland is leading the way as an industry pioneer, being the first of its kind in the financial services sector to offer SSFN for connecting its Total Messaging customers to SIX Group's Swiss financial market infrastructure.
Anapaya, a Swiss provider of network technology, enters into a partnership with Finastra a global provider of financial software applications and marketplaces. The partnership is designed to provide Swiss banks with access to the Secure Swiss Finance Network (SSFN). By deploying Anapaya's SCION (Scalability, Control, and Isolation on Next-generation Networks) solution, Finastra's SWIFT Service Bureau customers will benefit from a more resilient and secure data communications network, as will the SSFN, according to a media release.
SSFN replaces IPNet
The SSFN will replace the 20-year-old Finance IPNet as SIX Group's standard network solution in 2024. The SSFN is a controlled and secure network that enables connected banks to communicate with SIC and other financial market infrastructures. The network is based on SCION, the first "clean-slate" Internet architecture that provides route control, fault isolation and explicit trust information for end-to-end communications. "As cyber threats become more prevalent, strengthening security is of great importance for all institutions," said Andreas Helbling, Country Head, Switzerland at Finastra. "With SSFN, our customers in Switzerland can be confident that data exchange will be done with the highest level of security, performance and functionality. Anapaya's robust technology enables us to deliver our mission-critical services with added protection."
Higher security standards in response to cybercrime
Finastra is one of the largest global services companies and has a significant presence in Switzerland. It provides hosted SWIFT and direct connectivity to banks, clearing houses, local payment networks and beyond. SCION will support Total Messaging, Finastra's financial messaging platform that provides a gateway and workflow engine for market infrastructure, instant payments and payment service provider (PSP) connectivity. "Institutions no longer have guaranteed security on the traditional Internet - it simply doesn't have all the features needed to protect their data," said Martin Bosshardt, CEO of Anapaya. "We believe that SCION is the critical answer to today's cybercrime challenges. Finastra's decision to move to SSFN proves that well-known companies think so too."
