Fin-X is a Service Bureau providing SWIFT connectivity to banks, broker dealers, fund managers, central depositaries, clearinghouses and other financial institutions looking at outsourcing certain components of their connectivity to the SWIFT Network.

Recognised by SWIFT as a SWIFT-registered Service Bureau, the Bureau provides access to the SWIFT Network on a shared cost basis.

By sharing infrastructure and support costs associated with running a SWIFT Network, Fin-X can reduce certain entry costs as well as ongoing costs associated with running a SWIFT Network, including:

·  Capital costs associated with the purchase of dedicated hardware and software

·  Hardware maintenance costs

·  Costs of “dedicated” computer staff to manage a SWIFT network

·  System integration costs

·  Hidden costs such as training, skills transfer, support and downtime.

In addition, the bureau helps mitigate business continuity and disaster recovery risks by maintaining a full backup and a disaster recovery site.

For banks and financial institutions already on the SWIFT Network, connecting to SWIFTNet via the bureau service will enable to better cope with on-going developments currently undertaken by SWIFT:

·  the migration from FIN over X.25 to FIN over IP (SWIFTNet FIN). This migration started in August 2002 and ends in 2004 when SWIFT will stop the support of X.25 access. This migration is MANDATORY for all SWIFT customers. Please refer to www.swift.com for more details.

·  the required system upgrade for SWIFT members who independently operate on Merva, ST200 & ST400 (systems reliant on X.25). This migration will involve substantial hardware and software costs.

As more institutions are moving toward outsourcing their non-core activities, the bureau service gives you the freedom to focus on your core business and enjoy some cost savings.

For more detailed information on the Fin-X Service Bureau, please contact us further assistance.