Source: Nordea
Nordea's implementation of the Standardised Corporate Environment (SCORE) service has been successfully tested with a customer.
This will help companies to significantly reduce time spent on maintaining multiple bank systems and connection points.
SCORE is a new SWIFT service that gives companies access to the SWIFTNet messaging system and it will help companies to significantly reduce time spent on maintaining multiple bank systems and connection points. Nordea will be among the first banks in the world delivering the service.
SCORE enables the corporate customer to create a simple, secure and reliable communications platform to transmit financial messages to all of its cooperating banks around the globe. Accessing SWIFTNet services will reduce connectivity costs, harmonise and enhance security protocols, and facilitate data integration and straight-through-processing.
By implementing SCORE, Nordea will be in a far better position to meet customer expectations on enhanced connectivity. The go-live date for the first client will be mid March 2007. To be eligible for the SCORE model, companies must be listed on a regulated stock exchange within a FATF country. In order to provide companies not eligible for SCORE with a possibility to connect via the SWIFTNet, Nordea has also implemented SWIFT's service for closed user groups, MA-CUG. The same services within Nordea will be available for both SCORE and MA-CUG customers.
Luc Meurant, Head of Corporate Access Programme, SWIFT said: "More than 180 corporate already leverage SWIFT to communicate with their financial institutions. Our new SCORE service brings significant additional benefits: easier access and higher levels of standardisation".