Omikron’s MultiCash Transfer now has a direct connection to banks via the SWIFT network. This means that the use of the SWIFT network, via which virtually all banks worldwide can be reached, is now an additional option for multinational corporates to manage their payments processing.
Designed as a bank-independent platform for the optimal connection of corporates to their banks, MultiCash Transfer is now well established in many international payment factory solutions. In light of the changing world of electronic banking, MultiCash Transfer is constantly being optimised and enriched by new functionality.
On the basis of the SWIFT Alliance Lite interface, Omikron has now developed the add-on module ‘MultiCash SWIFT-connector’ for the solution. This provides fully automated exchange of data via SWIFT. All steps required for payment processing can now be integrated smoothly into the corporate workflow management. In addition, both the transfer of validated messages via the SWIFT-FIN service and the submission of pre-prepared files via SWIFT FileAct are available – depending on requirements and what the corporate’s banks supports. The modular concept of MultiCash solutions enables multiple communications options to be included within a single electronic banking platform. These include, alongside SWIFT, national communication standards such as EBICS, the established MCFT channel and bank-proprietary connections.
In a joint project with Omikron and SWIFT, a German savings and loan association has become the first to implement the MultiCash SWIFT-connector in MultiCash Transfer. The main goal was to exploit the benefits of a direct connection to the German Bundesbank for regular bulk payments and direct debits.
Gregor Opgen-Rhein, the responsible project manager at Omikron, said : “MultiCash Transfer provided a secure way to realise this connection in the corporate environment, while at the same time fully mirroring the internal authorisation hierarchy.”
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