SWIFT Service Bureau automates payment and statement reporting through a single connection – without the expense of an in-house system.
If your treasury or payables team uploads payment files to lots of different bank proprietary systems, then has to reconcile the statements, you know how long this can take.
Instead, you can access the SWIFT network through our parent bank The Royal Bank of Scotland. This gives you a single open channel to your multiple banks, providing the ability to automate your payments and statement reporting.
The results? Lower operational costs through increased efficiency and the chance to spot and resolve errors earlier in the process.
Cost-effective SWIFT connectivity
You'll gain all the benefits of connecting to SWIFT but without the expense. This will allow you to exchange data directly with your global banking partners without a major investment in infrastructure.
At the same time, there's no need for an in-house team of SWIFT experts to keep your service up and running.
Value-added services are also available, taking you beyond basic connectivity. For example, you can decide to automate your reconciliations processing and cash reporting.
The SWIFT Service Bureau doesn't just provide a means to send payment instructions to your banks.
You also gain total visibility of your cash positions on accounts across the globe, with virtually any bank.
Indeed, with the focus on cash visibility there has never been a better time to update your treasury and payment practices.
Automatic updates on your cash position
How long does it take you to check multiple account balances across the globe using individual proprietary systems?
Instead of this, your business could automate the process and receive a bespoke spreadsheet showing all your balances, or a file ready to import straight into your Treasury Management System (TMS) or Enterprise Resource Planning (ERP) system.
If you haven't found what you're looking for or have any additional questions please call us.
You might expect a bureau service to offer efficiency over flexibility. However, we have created a truly tailored service.
Automated to suit you
We will build our SWIFT Bureau solution to meet your specific needs. This includes inputting directly from your systems in your preferred formats. We will then convert the data to the requirements of other banks.
The result is simple - you simply carry on using the formats you prefer, keeping training costs to a minimum.
There’s also peace of mind and reduced risk. The bureau validates all payments before they’re sent to the bank, so you get all the benefits of straight-through processing including reduced risk and lower processing charges.
Our SWIFT Bureau service not only puts your business in control, giving you the detailed information you need to make truly informed decisions. At the same time, you only pay for the services and features you need.
• Improved control – take charge of liquidity management, through easy access to your global bank accounts
• Unified view - gain a single view of your financial position through transparency of all domestic and global accounts
• Simplify your processes – facilitate the consolidation of the volume of accounts, banking relationships and proprietary systems
• Regulation – centralised control and single processes make it simpler to demonstrate compliance with Sarbanes-Oxley requirements
• Transparent charging – for statement reporting and payment processing
As one of the world’s largest banks, we are well placed to give you the day-to-day support you need – backed with strong security.
• Keeping your data safe – all our processing takes place in a highly secure and reliable environment, with full data recovery
• Reduced risk – there’s no need to rely on multiple proprietary banking systems
• Simplify your support – reduce your reliance on proprietary systems
• Leave the updates to us – you will never have to worry about complying with the latest SWIFT rules
• Resolve issues fast - our format transformation service validates your payments before they travel over SWIFTNet to your banks, allowing for speedy resolution of any data issues
• No need to buy and maintain a SWIFT solution in-house, helping keep your costs down – we’ll even take care of all the SWIFT updates
• Streamlined implementation with a trusted partner, with a single contact and process
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