16 August 2017
visit www.avoka.com

SMA signs Islamic Bank of Britain to SwiftAlliance Bureau Service

19 October 2004  |  1521 views  |  0 Source: SMA Consulting

New start-up bank The Islamic Bank of Britain is preparing to go-live on SWIFT via the Bureau as of Swift's December cutover and futures brokerage Refco Overseas Limited commence testing in the next few weeks, and hope to switch-off their existing SWIFTAlliance interface shortly.

SMA's Bureau Service is based around the SWIFTAlliance product family, and offers much more than SWIFT FIN connectivity, such as message re-formatting and access to SWIFTNet FileAct and Browse. It is one of the first 10 Bureaus to be awarded the new SWIFT Bureau accreditation label.

Stephen Hinds, AGM Head of Operations at Islamic Bank of Britain PLC says "As a start-up bank, we see no advantage in handling the purchase, installation and configuration of a SWIFT Interface ourselves, when we can use a company like SMA to manage all of our SWIFT connectivity issues on an outsource basis. At Islamic Bank of Britain, we prefer to concentrate our resources on establishing our core retail banking products and services, with SMA's Bureau Service competently handling the financial messaging side".

"As an SMA SystemCare and SWIFTAlliance Access customer of several years, we have decided to hand over our SWIFT responsibility lock-stock and barrel and connect via SMA's Bureau Service. We will have a more resilient solution, with more services available to our end-users, at a fraction of the cost" says Simon Tatam, Head of Treasury, Refco Overseas Limited.

"The SMA SWIFTAlliance Bureau is a natural extension of our outsource model" says Guy Griffiths, Director of Marketing at SMA, "and as a SWIFT Business Partner, it is a great way to increase SWIFT's endpoints and our own extensive customer base".

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.eudownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10903 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
9980 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9360 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9040 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8196 views comments | 6 tweets | 21 linkedin