Decillion Solutions Group, a NEC company today announced that it has signed a collaboration agreement with PT. Finnet Indonesia to offer SWIFTNet connectivity via Decillion's Service Bureau to financial instituitions.
Through the collaboration, Decillion Solutions and PT. Finnet Indonesia will manage and maintain these services over secured and reliable network infrastructure and telecommunications facilities in Singapore and Indonesia, offloading significant resources within financial institutions for better operational efficiencies. This will enable financial institutions in Indonesia to access SWIFTNet without having to maintain expensive software, hardware servers and communications links by themselves. Customers of the Finnet SWIFT Service Bureau will also enjoy 7x24 operations and state-of-the-art technology, which ensure full resilience, availability and operability.
The secured and managed Service Bureau provides users with a single "window" to access SWIFTNet services such as FIN messages, FIX for settlement processing in the Securities industry and other value-added services including inter-bank payment, message transformation and anti-money laundering checks.
"The key benefits of the Finnet SWIFT Service Bureau will be cost savings that our customers will enjoy when they outsource their SWIFT connectivity, without compromising operational efficiency, data security and business availability," said Mr. Thomas Lee, Group Managing Director, Decillion Solutions. "We anticipate annual savings of over 25% to 50% for institutions who sign up for the Finnet SWIFT Service Bureau."
To date, over 25 financial institutions are using the Decillion Service Bureau.
"This collaboration demonstrates Finnet's commitment for the financial industry in Indonesia," said Pak Budi Siswanto, President Director of PT. Finnet Indonesia. "Financial Institutions needs to focus on their core business and offloading these operations to trusted and world-class service providers. Indeed, we are pleased to play a significant role in helping the financial industry improve their business efficiency over the long term."