SIBS’s gateway and switching services are supported by the configuration of a data store, with the necessary information to data’s conversion and routing between two different entities, minimizing the need to adjust both entities’ systems. 

SWIFT Service Bureau  – Safer, faster and economic Interbanking Communications.

SIBS SWIFT Service Bureau increased SIBS services portfolio for Banks, allowing the centralization of messages exchanged with financial institutions all over the world in a secure and fast way.

By hiring SWIFT Service Bureau, banks can reduce the investments in hardware platforms, software licenses, communications and security components’ management, assuring total autonomy to their clients regarding the choice of the most appropriate SWIFT services to their businesses.

SIBS’ SWIFT clients have acess to a solid platform with high processing capacity (around 30.000 messages/day)
Through this platform, SIBS assures the Connection Services to SWIFT, TARGET2, EBA Step2 and SEPA CT, the technical and operational support and the disaster recovery infrastructure.

The services also include technical management of communications regarding SEPA.

Almost 30 worldwide institutions have hired SWIFT Service Bureau that processes around five million messages per year.

Target 2

SIBS, together with Banco de Portugal, assures Real Time Gross Settlement system (RTGS), a system that inter-connects banks to the central bank.

SIBS was responsible for the development of RTGS security solution, as well as for the interface software used by all the participant institutions.

In 1999, SPGT, together with its congeners from the EU and European Central Banks, established the European system of interbanking transfers - TARGET. This system was used to perform single monetary policy operations between institutions from member countries.

The replacement of TARGET by TARGET2 was defined in October 2002 by the ECB, with new functionalities according to participants’ business needs. The system was launched by the end of 2007.

TARGET 2 advantages lay on its unique platform, with harmonized and efficient interfaces, procedures and prices for the EURO zone, providing the latest transactions processing  mechanisms and cash management.

For more information on this subject go to: www.ecb.int/paym/target/target2.