Eurogiro members have used Swift's single window approach to network access to lower costs through technology rationalisation and connect with SwiftNet FileAct for cross-border bulk payments.
Eurogiro has set up a hub to connect the proprietary Eurogiro network with SwiftNet. The hub is administered through a SwiftNet closed user group (CUG) for Eurogiro members.
The idea is to enable Swift members of the Eurogiro community to operate one system platform while still maintaining Eurogiro service levels. For the Swift members of Eurogiro there are immediate cost savings - in hardware, software and maintenance - from operating through a single window.
The challenge now is to encourage non-Swift Eurogiro members to participate in the bigger Swift community.
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