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October 23 2018

Sberbank and SWIFT sign memorandum of understanding at Sibos 2018

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During Sibos 2018, Sberbank and SWIFT signed a memorandum of understanding that extends the cooperation on the Alliance Messaging Hub (AMH), a financial messaging platform created by SWIFT.

The parties agreed to enter the second phase of their AMH implementation project, which aims to extend use of AMH to Sberbank’s subsidiaries that are not currently serviced by the bank’s HQ infrastructure, and to support ISO 20022 messaging. The first phase of the implementation of the AMH solution has been ongoing through the joint work of Sberbank and SWIFT experts since the parties signed the initial agreement in 2017.

Sberbank intends to use SWIFT AMH system as a technological solution to facilitate the centralisation and optimisation of processing Sberbank Group’s internal and external payment flows and other financial operations.

Sibos is an annual event organised by SWIFT that features conferences, presentations, panel discussions and exhibits. Sibos is attended by shareholders, members of the SWIFT community, national associations and partners. The event aims to discuss the most relevant issues facing the SWIFT community.

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Financial Services Risk & Compliance