SWIFT and Isabel, a provider of professional electronic banking (e-banking) applications to corporates and small and medium-sized enterprises (SMEs) in Europe, are combining to offer Isabel e-banking applications exclusively over the SWIFT network.
The partnership will extend Isabel’s reach by allowing corporates to access the more than 9,500 financial institutions in 209 countries that connect to SWIFT’s network.
In a first phase, Isabel will offer its member banks the opportunity to use their current SWIFT connectivity to connect to Isabel’s payment solutions. Banks can reduce costs and increase operational efficiency by leveraging their connection to SWIFT’s network rather than maintaining proprietary connections. This will also lower the cost barrier for new local and international banks wishing to use Isabel’s payment solutions.
Ultimately, SWIFT connectivity to banks worldwide will create new business opportunities. Corporates worldwide will have access to Isabel’s professional web-based multi-banking e-banking application. This application is recognised for its cost effectiveness, its integration possibilities with enterprise resource planning (ERP) and accountancy software, and the possibility to operate in a secured environment with multiple users.
“This agreement is in line with our strategic goal to reduce total cost of ownership for our customers by extending the use of their SWIFT infrastructure and eliminating proprietary connectivity channels,” said Alain Raes, chief executive officer (CEO) Europe, Middle East and Africa (EMEA), SWIFT.
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