Radianz and TransactPlus take on SWIFT

Alliance will leverage IP-based global extranet for financial messaging, but will the banks buy it?

Radianz, a global network spun out of Reuters, and TransactPlus, a provider of transactional messaging services, have announced an alliance to provide an alternative to the ubiquitous financial messaging structure provided by SWIFT.

The alliance will see TransactPlus messaging services, using technology developed at JPMorgan, offered over Radianz's Internet Protocol IP-based extranet, RadianzNet. TransactPlus will be able to provide financial institutions that are connected to RadianzNet, a comprehensive solution to a range of information delivery needs, ranging from near real-time transaction delivery to bulk file movement, disaster recovery and transaction risk management. Additionally, customers will receive end-to-end service level commitments at levels that are unattainable over...

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