Synergy's MessageMaker integrated with BankServ's TurboSwift

Source: BankServ

BankServ, worldwide experts in electronic payments, announced today a strategic partnership with Synergy Financial Systems, leading supplier of SWIFT messaging systems, that will see Synergy's MessageMaker product integrated with BankServ's TurboSwift.

The co-branded offering will give institutions further opportunities to increase STP and lower operational costs. The two companies also plan to explore closer sales and marketing co-operation.

The benefits to financial institutions of transmitting messages over the SWIFT network are well known, however there are costs and complexity issues that have to be considered, particularly where volumes are low. An additional challenge is that as SWIFT introduces new services the need for systems that can cope with new and evolving standards grows. BankServ's TurboSwift is trusted by hundreds of companies worldwide to manage their international messaging needs. The partnership with Synergy will enhance the value that BankServ provides to current and prospective clients by making new SWIFT services such as Cash Reporting, Exceptions and Investigations available.

MessageMaker is advanced browser based technology for message entry and release. It offers manual creation of SWIFT messages with full validation against the XML library of SWIFT messages and ISO15022/20022 standards. The integration of MessageMaker with TurboSwift provides even easier message creation, validation and routing for SWIFT messages. The new offering provides financial institutions with the ability to use international messaging standards and automate payments, thus improving profitability and service levels within domestic and international payments.

Synergy joins the ranks of BankServ partners that include SWIFT, Fiserv and The Bancorp Bank. Speaking about the partnership with BankServ, Michael Butterworth, Director, Synergy Financial Systems commented, "There is a real need for effective solutions around SWIFT connectivity and messaging, that can be deployed quickly and cost effectively. This is BankServ's core area of experience, they are recognised experts in SWIFT messaging and their TurboSwift product already has global penetration. The combination of TurboSwift and MessageMaker will cut thhe time required for message creation, increase accuracy and reduce operational risk."

"MessageMaker is in use at a number of Tier one banks and there are clear benefits to working closely with a well respected partner such as Synergy. They bring both messaging expertise and a proven track record of innovation in the payments industry and it was a logical step to explore closer working ties. This partnership opens up a number of exciting opportunities and we look forward to building a long term mutually beneficial relationship," said Mary Ellen Putnam, Vice President of International Business, BankServ.

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