BankServ implements Swift for Corporates for BMC Software
05 October 2009 | 1791 views | 0
BankServ, worldwide experts in electronic payments, today announced the successful implementation of its new SWIFT Corporate Solution for BMC Software, a leading global provider of business service management solutions, located in Houston, Texas. The new SWIFT implementation will make international financial transactions less expensive, while improving both payment and treasury operations.
The most comprehensive solution available, BankServ's Corporate Solution was selected by BMC because it included all the software, hardware and services BMC needed to enable cost-effective integration between the SWIFT network and the company's back-office systems. BMC originally used multiple systems and protocols to transmit their payment and transactions to multiple international banks. According to Chet Fenner, BMC's Treasurer, "these systems were costly to maintain and didn't enable any sort of integration with our treasury management and enterprise resource planning system. We wanted to consolidate these systems by using the SWIFT network and gain better visibility and management of our cash flows and transactions."
The BankServ Corporate Solution is based on a service bureau model that includes all the essential operations and support services BMC needed without having to purchase and maintain any systems in-house. Professional project management and implementation services were provided throughout the project, as well as 24/7 technical support for ongoing upgrades, disaster recovery and essential maintenance requirements.
BankServ's integrated MessagePro payment mapping application is a critical component of the solution because it enables the exchange and straight-through-processing (STP) of any message format between any back-office system at a corporation and its banks. MessagePro takes each transaction, transforms the message format according to a specific bank's requirements and delivers it through SWIFT's FIN services for regular wire transfers or through SWIFT's FileAct services for all other formats, including XML, EDI, and I-File.
"BankServ is pleased to have worked so closely with BMC to resolve any issues and develop a cost-effective solution that will improve STP and treasury operations," comments Mary Ellen Putnam, BankServ's Vice President and General Manager, International. "This customer-relationship is critical to the success of the project."