BBP, a SWIFT service bureau and a division of Fundtech, a provider of software and services to banks, has partnered with VocaLink, a global provider of payment transaction, to deliver SWIFT connectivity solution to banks and their corporate clients throughout Europe. This new service is an extension of VocaLink’s Service Bureau, and will provide a low cost, hosted connectivity service to SWIFTNet.
Corporate customers will benefit by gaining access to their chosen payment service provider and banks through a single access point for all of their payments, regardless of the format. This approach allows companies to gain total visibility of their cash positions on accounts across the globe.
The partnership with BBP strengthens VocaLink’s core offering that provide its customers with high volume payments processing. The collaboration will also enable VocaLink to offer flexibility for designing efficient migration and payments consolidation strategies for banks, allowing them to comply with SEPA rules and to get the benefits of cost reduction and improved control.
Per Trifunovic, CEO of BBP, said: “Hundreds of customers in over thirty countries around the world are currently benefiting from BBP’s reliable, economical and scalable SWIFT service bureau. Our partnership with VocaLink allows us to expand upon this throughout Europe, bringing the benefits of outsourced SWIFT connectivity to a larger community of users.”
Fred Bar, 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 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 fulfill the highest requirements in terms of stability, availability and security at the same time.”
