19 August 2017
visit www.avoka.com

GXS launches Swift Service Bureau

07 September 2010  |  3534 views  |  0 Source: GXS

GXS, the world's leading provider of business-to-business (B2B) e-commerce solutions, today announced that it is now a Swift Service Bureau provider.

The new service creates the world's largest "B2Bank" business network by establishing interoperability between the largest networks for financial transactions and B2B e-commerce across all continents, giving companies a single way to connect with banks, suppliers and customers.

The GXS SWIFT Service Bureau provides an outsourced IT service to manage a company's banking transactions, including payments, foreign exchange and securities processing, without the burden and costs of managing the associated technology infrastructure.

With today's increased focus on financial transparency, businesses are seeking better visibility and tighter integration with their banking partners. With the GXS SWIFT service, treasury groups can gain visibility to their cash positions across their banking relationships, improving liquidity management and working capital.

"Access to the SWIFT network gives corporate treasury groups two things that are on top of their lists these days: simplifying their banking transactions and improving transparency and control," said Susan Feinberg, senior research director, TowerGroup. "The ability to manage both banking services and B2B e-commerce through a single provider is a major advantage to businesses in today's challenging economic environment."

"Secure, reliable integration with financial institutions is mandatory for most businesses around the world," said David Pryce, head of partner and channel management, SWIFT Americas. "With 40,000 customers, GXS is a significant addition to the SWIFT partner network and we are delighted to work with them on this new service."

"At GXS, we're seeing a clear trend of companies rationalizing the number of banking relationships to improve Treasury operations," said Mark Mixter, senior global product manager for financial services, GXS. "As corporate treasurers look for efficiencies, they are often restructuring back office operations and using SWIFT Corporate Access to standardize their B2Bank integration channels."

 

Comments: (0)

Comment on this story (membership required)

Related blogs

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

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8400 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7565 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6680 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6233 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6096 views comments | 11 tweets | 9 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job