SWIFT and RBS Form Partnership for Asia-Pacific Corporates
Financial messaging services provider SWIFT and The Royal Bank of Scotland (RBS) have formed a strategic partnership to offer multinational corporates (MNCs) and large corporates across Asia Pacific a customised solution to simplify their working capital needs.
RBS will provide corporate clients with an integrated suite of working capital solutions, utilising the connection of SWIFT’s new networks, SWIFT Alliance Lite2 and SWIFT Alliance Converter. The solution will allow corporates to conduct their liquidity, domestic and cross border payables and receivables, as well as manage their import and export documents for their trade transactions.
RBS added that the partnership with SWIFT “will ensure a seamless migration for corporates from their propriety connectivity channels to the SWIFT network, with additional cost benefits for corporates. “
SWIFT Alliance Lite2, a cloud-based connectivity solution, enables corporates to send and receive all types of files and SWIFT messages. The newly launched Alliance Converter is an integration product that enables companies’ back-office systems to connect to SWIFT using Alliance Lite2.
“Many of our clients have told us that they are interested in obtaining bank services through multi-bank platforms, but are concerned about cost and integration, naturally,” said Manfred Schmoelz, head of transaction services, RBS Asia Pacific.
“We have been focusing on delivering working capital solutions to our clients using both our own proprietary and third party bank-agnostic platforms, having achieved several trade transaction firsts in the market.”
Eddie Haddad, director, Asia Pacific, SWIFT added: “We are pleased to partner with RBS in supporting Asia Pacific corporates who are utilising the SWIFT network to gain maximum efficiency from their financial and treasury operations. Improved visibility on cash positions and bank exposure as well as increased automation all result in higher productivity and better decision making for the corporates.
“We see that a growing number of Asia Pacific corporates from various industries and across geographies are moving this way, and will continue to extend and enrich our offering for corporates using SWIFT.”