Banks Offered Relief From SWIFTNet Migration Deadline
Biveroni Batschelet Partners AG (bbp), a Fundtech, company and provider of applications and managed services, has announced its plans to offer banks the ability to outsource the migration and management of the new SWIFTNet messaging service through its SWIFTNet ServiceBureau. SWIFTNet is S.W.I.F.T.’s comprehensive and integrated set of messaging services for the financial services industry. By leveraging bbp’s SWIFT ServiceBureau, financial institutions can seamlessly migrate to this new mandatory standard while focusing on their core business. Fundtech said: ‘As the first independent service bureau in Switzerland and the largest SWIFT service bureau in the world, bbp is well equipped to assist financial institutions with the migration.’ Through the bbp SWIFTNet ServiceBureau, bbp will migrate customers from their existing connection to the new TCP/IP connection. All changes will be managed by bbp ServiceBureau staff.