The South African market makes its financial payments and securities related transactions with speed, certainty and confidence through the SWIFT network.
Over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries exchange millions of standardised financial messages every day over SWIFT. Following the introduction of ISO 15022 message standards, South Africa was the first community to roll out the new and improved messages over the SWIFT network 12 years ago.
Strate manages one of Africa’s largest SWIFT infrastructure. As one of the top 2 % of SWIFT users in the world, our centralised SWIFT services allow market players to save costs and ultimately bring new efficiencies to their own organisations. Strate provides some of the following benefits:
- A Premium Plus Partnership with SWIFT;
- Cost-effective infrastructure and state-of-the-art IBM platform;
- 24/7 monitoring and support, with direct support that includes an on-call SWIFT certified engineer;
- Easy connectivity to Strate participants and other SWIFT users;
- Shared connectivity with a host of users, thereby providing an extraordinarily cost-effective service;
- Scalable SWIFT services, rendering them readily accessible to a range of users; and
- Various SWIFT products eg. SWIFT Alliance Messenger and SWIFT Alliance Gateway.
Strate Gateway Services
The Strate Gateway Service offering provides the South African financial market Participants with an alternative to send and receive ISO15022 format messages directly to and from Strate, without utilising the SWIFT network, thereby realising cost savings. This Network used is a secure and private network that uses state of the art infrastructure. At the heart of the Strate Gateway Services lies Strate's Gateway and Tracker Applications. The Gateway application processes and routes messages to and from the required Strate target application while the Tracker application stores a copy of the messages processed by the Gateway application on a database that resides on the Strate high availability infrastructure. The messages are stored for a period of 5 years and thereafter archived. These applications were developed and are maintained by Strate's development team. Additional functionality is periodically added to the application to satisfy the clients requirements and to enhance Strate's service offering.