Tieto and Pohjola Bank Launch SWIFT Services for Businesses
Pohjola Bank and Tieto have launched a service enabling corporate customers to use Pohjola’s payment transfer services via the SWIFT network, which provides customers access to almost all banks around the world via one channel.
Banks and major institutions for transmitting payment and securities orders and reports have so far mostly used the SWIFT network. Now this new cost-efficient service is available to companies of all sizes. The number of the SWIFT network users totals roughly 10 000 companies, banks and other financial institutions worldwide.
“International corporations need banking services everywhere in the world and until the present day they have often had to build separate connections with several bank partners. Now a single channel enables connections without any need to buy and maintain standalone software. Such a connection can be linked as part of Pohjola’s services. We can provide the new service for our foreign customers too,” said Matias Huhtala, vice president, Pohjola Cash Management.
The service is based on the Tieto Payment Factory bank connectivity service, through which it is possible to send payment data to all banks in the world. Services are available to Pohjola’s customers via the SCORE channel.