Easily connect with multiple banks across the world using a single, secure, standardised global messaging platform.
Enjoy the extra performance of a secure, single channel to multi bank connectivity
Following an extended period of economic and financial turbulence, there has been an increased focus by global corporations on optimising working capital, ensuring holistic risk management and improving operational efficiencies.
Lack of cash visibility, operational inefficiencies, and reliance on disparate complex global multi-banking systems are some of the major weaknesses that have plagued corporate cash management since the financial crisis.
To address these challenges, it has become increasingly evident that a compelling solution is required, which allows corporate treasury and finance functions to administer multiple accounts across the various financial institutions with whom they have a banking relationship.
Challenges faced by Corporate Treasury and Finance Departments
- Streamlining multiple host-to-host banking connections
- Automating and integrating financial data gathering and reporting functionality
- Reducing complexities surrounding changing and varying security protocols, and
- Dealing with various disparate financial messaging formats
Swift for Corporates
Having recognised that organisations were increasingly conducting global trade and setting up overseas operations, SWIFT opened up its network in 1997 to allow corporations to send and receive secure interbank standardised financial messages.
Previously used to securely send transaction information primarily between banks, today almost 11,000 banking institutions and corporations in over 200 countries – including half of all Global Fortune 500 Companies – trust SWIFT to reliably communicate financial messages with speed, certainty and confidence on a daily basis.
See how the AccessPay solution can improve your business
AccessPay Swift Cloud Vs SWIFT Bureau
Tom & Terry compare AccessPay’s cloud-based SWIFT messaging platform with an expensive bureau service.
Straight Through Processing
Our Straight Through Processing video – a cure for those manual processing worries and woes!
Benefits of SWIFT for Corporate
Replaces multiple host-to-host banking channels with a single bank agnostic connection.
Standardised financial messaging
Rationalise financial processes and systems using a homogenous messaging format, which helps to synchronise banking connectivity between counterparties.
Automation of Financial Processes
Automate payment processing, bank account reconciliation, transactional data gathering and calculate daily cash positions on daily and intra-daily basis.
A single digital-token with strong authentication process to enable access to multiple banking partners through any channel.
SWIFT takes full liability for every message once they it has been accepted and has 99.999% network availability.
guarantees compliance with both domestic and international regulations through automation, standardisation and data transparency.
AccessPay is an innovative cloud-based multi-banking connectivity solution underpinned by SWIFT for Corporate functionality.
Treasury and finance professionals at some of the leading global corporations rely on our solution to gain centralised control over their global payments and multi-banking relationships, and benefit from seamless integration, Straight Through Processing and increased global cash visibility and reporting capabilities.
In addition to providing a connection to the SWIFT network, AccessPay also allows corporates to manage almost any type of local and international payment, including; Direct Debits, Bacs Payments, Faster Payments and SEPA Direct Debit & Credit Transfers.
Connect to multiple banks using a single, secure communication interface.
Switch banks easily with the omission of host-to-host banking connections.
Exchange information with multiple banks using standardised financial messages.
Reduce implementation lead times and cost associated with integrating disparate systems.
Single point of entry, replacing numerous access keys.
Straight Through Processing
Reduce complexity and increase staff efficiency with; no manual rekeying, no human error and no processing delays.
“Combining a modern and feature-rich cloud-based payments and cash management application seamlessly with SWIFT’s cloud-based interface – Alliance Lite2 – can deliver real benefits to the end customer. And by adding 3SKey on top, the customer can reap the full benefits of cloud-computing without compromising on security.”
Robert Schneider, head of SWIFT’s Corporates Business in EMEA
“AccessPay is the first partner in the UK to adopt the new SWIFT Alliance Lite 2 cloud solution – Essentially combining our cloud capability with theirs takes things very much beyond pure messaging and bank connectivity and instead provides the corporates and financial institutions with a full solution to manage their cash and payments.”
Neil Gray, SWIFT Director for Corporates