For this initiative, Google Cloud is creating a reference implementation of SWIFT components on Google Cloud to help mutual customers satisfy SWIFT security and operational requirements, increase operational efficiency, and accelerate adoption of cloud for their core payment applications. We expect the SWIFT on Google Cloud reference implementations to be generally available (GA) later in 2022 in parallel with SWIFT’s GA launch of the Alliance Connect Virtual products. Some of the many reasons why customers should consider SWIFT on Google Cloud as their preferred solution include:
1) Google Cloud’s security principles focus on a secure-by-design infrastructure, built-in protection, and global network that assists customers in keeping their organizations secure and compliant. Data is encrypted by default, at rest and in transit, to prevent access by any non-authorized entities.
2) Google Cloud currently has29 cloud regions, 88 zones, and 146 network edge locations connected via our private, software-defined, high-performance network across 200+ countries, helping our customers better serve their users around the globe.
3) Google Cloud’s serverless, highly scalable, and cost-effective multicloud data warehouse,BigQuery, enables customers to dynamically increase data from bytes to petabytes, with zero operational overhead. Customers can quickly gain business and operational insights about financial messages with real-time predictive analytics while relying on robust security, governance, and reliability controls for high-availability.
4) Google Cloud’sAI platform provides customers with one unified experience to create, deploy, and manage models over time, at scale. It is built with groundbreaking ML tools that enables customers to deploy models faster with MLOps pipeline tooling including configurable management of data and models.
5) Google Cloud is reducing environmental impact with thecleanest cloud in the industry. Google is carbon neutral today and runs smart, efficient data centers that are twice as energy efficient as a typical enterprise data center.
Now that you know some of the reasons customers choose Google Cloud, let’s explore some of the customer challenges we aim to solve by moving SWIFT components to the cloud.
Reducing data center operational costs is one of the key business drivers when customers migrate applications to the cloud. Customers want to run their technology on faster, more scalable, and more affordable infrastructure than their on-prem environments. Virtualized SWIFT components like the SWIFT VPN enable customers to run on optimized virtualization platforms and help customers avoid separate license agreements with hosting providers. These are all part of a customer’s broader cloud modernization and data center migration initiatives.Customers must deploy SWIFT components in secure and reliable infrastructure to process sensitive financial messages. SWIFT has created the Customer Security Controls Framework (CSCF) which consists of mandatory and advisory security controls for SWIFT users to meet those requirements. A few examples would be the principle of least privilege for physical, network, and application permissions to restrict unauthorized access; encrypting credentials and data in flight and at rest; and providing redundancy and fault tolerance for a highly available platform. These controls evolve over time to combat new and evolving threats and to implement new developments in cybersecurity.
Once customers are confident they can satisfy SWIFT’s security requirements and virtualize the components in a cloud environment, they can accelerate their adoption of cloud native services for their core platforms. This opens up the opportunity for customers to leverage new big data and machine learning technologies to help gain new insights and further analysis of the messaging data. Let’s see what the SWIFT components look like on Google Cloud.
The SWIFT on Google Cloud solution is a packaged, hybrid solution that’s a combination of SWIFT software in Google Cloud and SWIFT hardware components in a colocation facility. The solution can be broken into two logical components: SWIFT VPN or Alliance Connect Virtual and the corresponding SWIFT applications.