Fundtech (NASDAQ: FNDT), a market leader in global transaction banking solutions and operator of one of the world's largest Swift service bureaus, announced that its subsidiary BBP has received the SwiftReady Connectivity label.
This SWIFTReady label, which recognizes BBP as one of the 'best in class' shared connectivity providers, has currently been achieved by only four service bureaus in the world.
The SWIFTReady Connectivity label is based on in-depth inspection and audit by SWIFT specialists, and has been established to assist SWIFT customers in identifying shared infrastructure providers that host and operate their own connectivity. According to SWIFT the award: "recognizes providers that meet higher standards of resiliency and security to make it easier for users to identify the 'best in class' providers and have confidence that they meet very strict quality levels."
Peter Vermeulen, SWIFT's Business Development Manager, responsible for Service Bureaus said: "We congratulate Fundtech's BBP for achieving the SWIFTReady Connectivity label. It recognizes BBP among the shared infrastructure providers who offer greatest security and resiliency for end-users connecting to SWIFT."
"The SWIFTReady Connectivity label is a seal of approval from SWIFT that an organization has met their high standards for safety and soundness," says Nancy Atkinson, senior analyst at Aite Group. "As outsourcing non-core processing to service bureaus becomes more common, companies and financial institutions want assurances that their messages will be sent accurately, timely, securely, and with excellent recovery in the event of problems. Vendors with the SWIFTReady Connectivity label have been vetted by SWIFT, which is willing to provide such assurances."
According to Per Trifunovic, BBP Chief Executive: "Over the past 25 years BBP has consistently focused on delivering to the market the highest quality and reliability achievable. We are gratified that SWIFT has recognized our commitment to these high standards. As we seek to expand globally, we believe that this SWIFTReady Connectivity label will provide us with the credibility needed to be successful in these new geographies."