VocaLink has entered into a partnership with BBP AG to deliver SWIFT connectivity to banks and their corporate customers. The connectivity network will be used for routing payments and provide low cost, hosted connectivity service to SWIFTNet.
According to VocaLink, the service removes banks’ in-house operational costs of managing multiple bank relationships whilst enabling them to benefit from economies of scale. Corporate customers also benefit accessing their payment service provider and banks through a single access point for all of the payments, regardless of the format. It allows companies to gain total visibility of their cash positions.
The partnership with BBP offers its customers with high volume payments processing in a cost effective environment. It will also enable VocaLink to offer design efficient migration and payments consolidation strategies for banks.
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”
Per Trifunovic, CEO of BBP, said: “BBP operates the world’s number one SWIFT Service Bureau and has a solid track record of running faultless outsourced SWIFT services for over 200 customers in more than 30 countries worldwide.”
