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UBS introduces multibanking service for Swiss SMEs

UBS introduces multibanking service for Swiss SMEs

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."

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