UBS is rolling out a multibanking function that lets its SME clients in Switzerland make payments from their accounts with other providers from within the Swiss giant's E-Banking service.
Most Swiss companies have accounts with several banks, making it time-consuming to maintain an a overview of their liquidity situation, says UBS.
The new service - based on the Ebics and Swift standard interfaces - helps to address this problem and give smaller firms access to a technological infrastructure that would normally only be affordable to large corporations.
Andy Kollegger, head, corporate and institutional clients, international, UBS, says: "We have purposefully pushed forward the development of UBS Multibanking with selected clients.
"The result speaks for itself: we are the first bank in Switzerland to enable all corporate clients to make direct payments debited from accounts with third-party banks worldwide with just one E-Banking login - a feature that was considered inconceivable just a few years ago."