22 October 2017
visit www.atos.net

SMA signs Islamic Bank of Britain to SwiftAlliance Bureau Service

19 October 2004  |  1549 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.atos.netvisit www.vasco.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10445 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9950 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9051 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8127 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7900 views comments | 10 tweets | 22 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job