BRUSSELS - The Society for Worldwide Interbank Financial Telecommunication has agreed to subcontract its network operations to the telecommunications firm Global Crossing.
Swift said the $300 million agreement, announced Tuesday, will let it concentrate on its core messaging services and leave development and operation of its network infrastructure to Global. It also means the society can give its clients one-stop shopping for local access; premises equipment; and broadband, Internet, and virtual private network services.
Joe Eng, the society's chief information officer, said Swift will design, implement, test, and manage the network with Global Crossing, but its customers "will continue to have a single provider, a single network, and a single point of contact.
