RBS launches Swift service bureau for corporates

RBS launches Swift service bureau for corporates

Royal Bank of Scotland has launched a Swift service bureau for corporates that require an outsourced service for connecting to the interbank network.

RBS says the new service will provide companies with direct connectivity to Swift but without the costs and management overheads associated with full Swift membership.

Gary Wright, head of international cash management and product development, global transaction services, RBS says customer feedback shows that corporates want to make better use of the Swift network and are looking to use existing banking relationships to achieve this.

"This service allows corporates to focus operational and IT staff on managing and growing their core business," says Wright.

RBS says the service bureau will be powered and managed by its technology partner Simplex Consulting.

The system delivers all Swift data processing and connectivity in a secure, reliable and resilient environment with full back-up, disaster recovery, systems maintenance, infrastructure upgrades and on-going support with real-time monitoring and contingency.

In addition to connectivity, the bureau service manages messaging and business functionality normally provided by in-house applications, such as message reformatting, says the bank.

RBS will be showcasing the new service at this year's Sibos in Vienna, which kicks off on 15 September. Finextra will be in Vienna as Swift's official online news provider and you can get all the latest news and access interactive Web 2.0 services at SibosOnline.

Corporates attending Sibos last year called on banks to do more to standardise, streamline and support access to interbank Swift services for companies of all sizes, not just the big multi-nationals.

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