Correspondent Banking Suite
Correspondent Banking Suite, the SWIFT Cloud-based solution
Banks have to deal with an increasing pressure on minimising operational costs while keeping their SWIFT infrastructure up-to-date in terms of technology and security. Additionally, regulatory constraints combined with the current security context makes it more relevant than ever to know your correspondents. You need to be able to track your payments, ensure trouble-free payments processing, strengthen your defences against cyber threats and financial crime and get access to data for further analysis.
The Correspondent Banking Suite is a new SWIFT offering combining the best of our products and services to help small to medium banks active in correspondent banking address these challenges.
The new service offering consists of three packs – The Basic Pack, The Compliance Pack and the Business Data Pack - that can be combined and range from getting cloud-based secure interface to the SWIFT network to additional compliance services or to getting access to business data.
Issue payments to/from correspondents that you know
The Basic Pack includes:
- Lite2 - migration services and monthly subscription and peace of mind
- Lite2 – Direct Link subscription (excluding Integration Services)
- KYC registry, including on-boarding and consumption
The Basic Pack can be combined with any of the 2 following additional packs
Strengthen your defences against cyber threats and financial crimes
The Compliance Pack includes:
- Sanctions screening – Copy version
- Name screening (sanctions lists, ownership research, PEP)
- Daily validation report – single customer
- Implementation services
Business Data Pack
Your correspondent banking traffic and payments reference data
The Business Data Pack includes:
- Bankers World Online
- BI - Network management Dashboard
SWIFT GPI will be included in the Correspondent Banking Suite in 2018.