Fundtech’s BBP subsidiary, which operates a large SWIFT service bureau, has become a certified SAP service partner. This new certification enables connections between businesses that use the SAP enterprise resource planning (ERP) application and the SWIFT network. Almost half of BBP’s 50 SWIFT for Corporates clients use SAP and benefit from increased straight-through processing (STP), improving the speed, reliability, and efficiency of their connection to banks.
As an SAP services partner, BBP offers the skills and experience needed in integrating SAP ERP with the SWIFT network. BBP has seen strong growth of its SWIFT for Corporates business as companies seek to reduce operating costs and have greater flexibility in their banking relationships. With a SWIFT connection, corporations use one standard interface to send and receive information to all of their banks, eliminating the expense and complexity of multiple proprietary bank connections.
“Post-financial crisis, corporates require greater flexibility with their banking relationships and improved methods to cater to new customer and regulator demands,” said Nancy Atkinson, senior analyst, Aite Group. “IT budgets remain under scrutiny, so the real challenge for corporates is maintaining cost-efficiency while delivering expert customer support and access to a global network of banks. SWIFT and BBP bridge this gap by providing a single, standardised connection between financial institutions and corporates around the world.”
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