Swift, the provider of global secure financial messaging services, and Isabel, the provider of professional eBanking applications to 110,000 corporates and SMEs in Europe, are combining their strengths to offer Isabel eBanking applications exclusively over the SWIFT network.
The ultimate objective of this partnership is to extend Isabel's reach by allowing corporates to access the more than 9,500 financial institutions in 209 countries that connect to SWIFT's network.
Stepped approach to increased value
In a first phase, Isabel will offer its member banks the opportunity to use their current SWIFT connectivity to connect to Isabel's payment solutions. Banks can reduce costs and increase operational efficiency by leveraging their connection to SWIFT's network rather than maintaining proprietary connections. This will also lower the cost barrier for new local and international banks wishing to use Isabel's payment solutions.
Ultimately, SWIFT connectivity to banks worldwide will create new business opportunities. Corporates worldwide will have access to Isabel's professional web-based multi-banking eBanking application. This application is recognised for its cost effectiveness, its advanced integration possibilities with ERP and accountancy software, and the possibility to operate in a completely secured environment with multiple users.
"This agreement is in line with our strategic goal to reduce Total Cost of Ownership (TCO) for our customers by extending the use of their SWIFT infrastructure and eliminating proprietary connectivity channels," said Alain Raes, CEO Europe, Middle East and Africa, SWIFT.
"SWIFT connectivity to banks boosts the reach of our eBanking application," said Philippe R. Dubois CEO of Isabel. "Corporates world-wide will have a professional and user-friendly access to thousands of banks."