Partnership will enable seamless treasury management connectivity with financial institutions
Brussels – 21 March 2018 - SWIFT is joining forces with SAP SE (NYSE: SAP) to offer treasurers a comprehensive, out-of-the-box integration with financial institutions, connecting to the SWIFT network of more than 11,000 financial institutions worldwide.
SAP Multi-Bank Connectivity, a new integrated connectivity solution based on SAP Cloud Platform technology, enables corporate-to-bank connectivity for SAP S/4HANA customers who need to connect with multiple banks, while lowering onboarding costs and increasing transparency and control. Companies can choose between an embedded connection to the SWIFT network, and bank connectivity through their usual banking partners.
Businesses require flexibility to establish relationships with multiple financial institutions. Multi-bank corporates often face challenges collecting, streamlining and implementing the integration of each bank partner. SAP Multi-Bank Connectivity combines the benefits of SAP S/4HANA, with a seamless integration into the SWIFT network, providing a single and secure point of entry by which they can manage all their banks’ relationships.
Christian Mnich, Senior Director, Solution Management Treasury, SAP says “With this partnership we can simplify bank connectivity for our clients, providing them with banking communication across multiple banks and countries. The embedded solution allows companies to accelerate project implementations and increase security standards by leveraging the secured shared infrastructure provided by SAP’s cloud platform.”
“The objective is to lower the barriers of entry that exist for corporates to reach all their banks globally”, adds Marc Delbaere, Head of Corporates and Supply Chain, SWIFT. “With the embedded SWIFT connectivity, corporates have direct access to all banks worldwide. This integrated solution is going to ease the lives of many corporate treasurers.”
The objective is to lower the barriers of entry that exist for corporates to reach all their banks globally. With the embedded SWIFT connectivity, corporates have direct access to all banks worldwide. This integrated solution is going to ease the lives of many corporate treasurers.
SWIFT is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. While SWIFT does not hold funds or manage accounts on behalf of customers, we enable our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world. As their trusted provider, we relentlessly pursue operational excellence; we support our community in addressing cyber threats; and we continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Our products and services support our community’s access and integration, business intelligence, reference data and financial crime compliance needs. SWIFT also brings the financial community together – at global, regional and local levels – to shape market practice, define standards and debate issues of mutual interest or concern. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.
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