VocaLink, a payments specialist, has partnered with BBP, a Swiss SWIFT service bureau, to deliver a SWIFT connectivity solution to banks and their corporate customers throughout Europe.
The new service, which is an extension of VocaLink’s service bureau, will provide a viable, low-cost, hosted connectivity service to SWIFTNet. The service removes banks’ in-house operational costs of managing multiple bank relationships while enabling them to benefit from economies of scale. Corporate customers will also benefit by gaining easier access to their chosen payment service provider (PSP) and banks through a single access point for all of their payments, regardless of the format. This approach allows companies to gain total visibility of their cash positions on accounts across the globe.
Fred Bär, managing director for euro services and channels at VocaLink, said: “By offering SWIFT capabilities and standards with BBP, VocaLink’s customers will benefit from a single route to SWIFT. This greatly reduces the operational overhead of managing SWIFT internally by outsourcing to SWIFT certified specialists, enabling banks to focus on their core business. As a result, we are able to fulfil the highest requirements in terms of stability, availability and security at the same time.”
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