SWIFT AMH (Alliance Messaging Hub) Vocabulary

 Core Concepts

• SWIFT: Society for Worldwide Interbank Financial Telecommunication. A global provider of secure financial messaging services.  
• AMH: Alliance Messaging Hub. A cloud-based messaging platform developed by SWIFT.
• API: Application Programming Interface. A set of rules and protocols that allows different software applications to communicate with each other.  
• Integration: Connecting different systems and applications together to enable data exchange and workflow automation.
• Messaging: The exchange of information between different parties, typically using electronic means.
• Channels: Communication pathways used to send and receive messages (e.g., APIs, file transfers).
• Workflows: A sequence of automated steps or tasks that are executed in a specific order.
• Onboarding: The process of integrating a new system or application with the AMH.
• Configuration: The process of setting up and customizing the AMH to meet specific business requirements.
• Monitoring: The process of observing and tracking the performance and status of the AMH and its integrations.
• Troubleshooting: Identifying and resolving issues that may arise with the AMH or its integrations.

Technical Terms

• REST APIs: Representational State Transfer APIs, a common architectural style for designing APIs.
• JSON: JavaScript Object Notation, a lightweight data-interchange format.
• XML: Extensible Markup Language, a markup language for encoding documents in a format that is both human-readable and machine-readable.  
• SOAP: Simple Object Access Protocol, a messaging protocol specification for exchanging structured information in a decentralized, distributed environment.
• Authentication: The process of verifying the identity of a user or system.
• Authorization: The process of granting or denying access to specific resources or functionalities.
• Encryption: The process of converting data into a secret code to prevent unauthorized access.
• Security: The measures taken to protect the confidentiality, integrity, and availability of data.

Business Benefits

• Improved Efficiency: Automation of manual processes, faster transaction processing times.
• Reduced Costs: Lower operational costs, reduced reliance on manual intervention.
• Enhanced Agility: Faster time-to-market for new products and services.
• Increased Transparency: Greater visibility into transactions and operational processes.
• Improved Compliance: Easier adherence to regulatory requirements.
• Better Customer Experience: Faster and more efficient customer service.

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