Tieto Adds SWIFTNet Connectivity to Corporate Payment Gateway

Tieto, a financial value chain service provider, will add SWIFTNet connectivity to its payment gateway for corporates. The Tieto Payment Gateway speeds up and simplifies corporate access to banks by combining value added services, such as message reformatting and data enrichment, with single point of connectivity. It will be complemented with a Swift service bureau allowing corporate customers to centralize their bank connectivity globally leading to significant operational efficiencies and cost savings.

Currently, the service allows corporates access to all banks in the Nordic region. During Spring 2010, the service will be further enhanced with SWIFTNet connectivity, which will significantly increase the number of banks that can be reached via the service. This allows corporates to further simplify their bank connectivity and gain additional benefits such as improved visibility of all cash positions and improved automation, leading to better cash and liquidity management as well as easier regulatory compliance.

Alain Raes, chief executive officer (CEO), Europe, Middle East and Africa (EMEA) at SWIFT, said: “I am very pleased with the initiative of Tieto, a strong regional partner, to create one of the first SWIFT service bureaus with a main focus on corporates. Using a service bureau has become the preferred way of connecting to SWIFTNet for many of our new customers. The Nordic region with many multi-national players shows a big interest in our services. This initiative is making it easier for them to join SWIFT.”


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