SWIFT is providing the Hong Kong financial community with an enterprise messaging and gateway solution to the Hong Kong Faster Payments System (FPS) that aims to go live in September 2018. Several global and local banks in Hong Kong participating in FPS already rely on SWIFT for their domestic and cross-border payments.
The solution for the Hong Kong market will provide banks with the opportunity to leverage a single platform, Alliance Messaging Hub (AMH) to connect to FPS using ISO 20022-based financial messages. AMH is an orchestration layer that includes a gateway to FPS, as well as other gateways and APIs, allowing financial institutions to connect to other non-SWIFT networks. The solution is available with both real-time and batch processing capabilities, supporting the low latency and integration requirements of all financial institutions.