Broadridge scores first corporate client for Swift Service Bureau
02 October 2007 | 4086 views | 0
European lifestyle brand Villeroy and Boch has become the first corporate to sign up to the Swift Service Bureau offered by outsourcing provider Broadridge, formerly known as ADP Brokerage Services Group.
The corporate will use the service as the payments messaging system for its corporate treasury department and to provide connectivity with its banking partners using the Score model for corporate acess to SwiftNet.
Markus Warncke, Villeroy and Boch's treasurer, states: "The Broadridge Swift Service Bureau gives us very quick access to Swift messaging capabilities for secure and standardised messaging, on a cost-effective basis."
Among the banking community, Broadridge currently claims 26 clients for its SSB service, following a number of recent deals struck with financial institutions operating in the Eastern European market. Pioneer Investments in Prague is the latest firm to sign up for the Broadridge SSB.
Interest among smaller institutions and the new wave of non-banks to access Swiftnet has spawned a rash of investment in the Service Bureau business among thrid party technology vendors. Both ACI Worldwide and Sterling Commerce have unveiled new SSBs at the Swift conference in Boston this week.