18 August 2017
visit www.avoka.com

India's Yes Bank joins Swift network with BankServ

13 December 2004  |  1831 views  |  0 Source: Synergy Log-In Systems

YES BANK, India's new generation private sector bank, has gone live on the international SWIFT network, using TurboSWIFT, the robust and scalable SWIFT-approved interface device from BankServ International, in a record time of four months. With this, YES BANK can exchange international payments and other financial information on the global SWIFT network. The leading treasury software vendor, Synergy Log-In Systems have been the distributors for BankServ International products in India with six other banks using TurboSWIFT.

BankServ International won the YES BANK mandate amidst stiff competition and following an in-depth techno-business evaluation as its switch had the best functional fit with YES BANK's business and system requirements. Developed on web-technology TurboSWIFT is platform and database independent, facilitating convenient integration. Its scalable, open architecture is capable of processing up to 100,000 messages per day. TurboSWIFT is currently being used successfully by over 300 banking institutions worldwide including some of the largest and most prestigious global banks.

Announcing this, Mr. Rana Kapoor, MD and CEO, YES BANK (main promoter), said, "We chose TurboSWIFT for its proven track record, its processing speed, user friendly features and its highly scalable SWIFT message switch, which we can leverage further to maximize business efficiencies."

Mr. Sanjay Kumar, CEO of Synergy Log-In, the Indian distributors of BankServ International said, "This selection is an endorsement of the features of TurboSWIFT and our implementation and support capabilities. TurboSWIFT's flexibility and in-built STP (straight-through-processing) feature enable connection with all back-end retail or treasury solutions and route messages on any logical criteria. It's responsive features and context-sensitive help screen reduces training efforts facilitating early deployment."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.worldpaymentsreport.comdownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10098 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8378 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7820 views 0 | 1 tweets | 9 linkedin
PayPal buys Swift Financial to boost working capital bizPayPal buys Swift Financial to boost worki...
7770 views comments | 13 tweets | 7 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7737 views comments | 3 tweets | 7 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job