The Bank of England (BoE) has formally accredited Simplex, a global transaction services provider, as a provider of SWIFT-based Enquiry Link solutions for the central bank. All account holders (including reserve account holders) must have access to the secure, SWIFT-based Enquiry Link service, owned by the BoE. This enables account holders to monitor activity on, and receive information about, their account(s) in the bank’s real-time gross settlement (RTGS) processor, and in certain circumstances to transfer funds between accounts.
The Global Super Bureau – jointly provided by UK-based Simplex and Swiss-partners Sterci – is a global platform providing best-in-class solutions including a full suite of transformation, reconciliation and management services for financial data, enabling straight-through processing (STP) in a network and bank agnostic environment.
The Global Transaction Platform delivers an architected solution for the BoE. It provides fully secure connectivity to the BoE Enquiry Link service and enables institutions holding accounts in RTGS to participate as a settlement bank in any of the interbank funds transfer schemes for which the bank acts as settlement agent; and/or as a member of the bank’s Reserves Scheme (which since 2006 has been part of the operational framework for delivering the Bank’s monetary policy decisions).
Philip Walsh, chief executive officer (CEO) of Simplex, said: “The Band of England accreditation for the Simplex/Sterci Global Transaction Platform Enquiry Link solution demonstrates yet again Simplex’s market positioning in offering superior compliance solutions and transaction services to the world’s largest and most demanding customers.”
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