SOURCE: BankServ

September 16, 2008 01:00 ET

BankServ Introduces SWIFT Service Bureau for Corporates to Enhance Payment and Treasury Operations

Innovative SWIFT Connectivity and Messaging Services Allow Fortune 500 Companies to Reduce Costs and Increase Security Related to Payments and Other International Financial Transactions

SAN FRANCISCO, CA--(Marketwire - September 16, 2008) - BankServ (, worldwide experts in electronic payments, today introduced its TurboSwift Corporate Suite, a fully-hosted electronic messaging solution that enables corporations worldwide to make international payments and other financial transactions more secure and less expensive. The TurboSwift Corporate Suite combines the power and speed of a SWIFT service bureau model with an all-in-one solution providing essential payment mapping and bulk messaging capabilities to improve operations and cash management.

The SWIFT network has become the industry standard for international payment messages and is used by financial institutions around the globe to efficiently exchange critical financial information in a secure and reliable environment. However, many non-bank companies do not have the know-how or a cost-effective means to access the SWIFT network, and therefore overspend when making daily payment and financial transactions. These companies often employ disparate systems and protocols for electronic messaging related to payment and financial transactions, introducing an additional cost burden and preventing them from automating and integrating financial messaging with critical back-office systems. The TurboSwift Corporate Suite allows corporations to access the SWIFT network without having to maintain their own connection -- gaining the benefits of SWIFT access with none of the headaches and costs.

"Unlike many banking institutions, corporations do not have the capacity to support SWIFT protocols and requirements and very few leverage the full power that SWIFT messaging can bring to their business," comments Mary Ellen Putnam, BankServ's Vice President and General Manager, International. "BankServ's TurboSwift Corporate Suite connects any corporation to SWIFT, removing the technical headaches and high costs associated with setting-up an in-house connection. The TurboSwift Corporate Suite also enables integration with existing front- and back-office systems related to critical payment and treasury operations."

Included with BankServ's Corporate Suite is a fully integrated set of applications, including:

--  TurboSwift™ -- connects your company directly with the SWIFT
    network and comes with tools that enable authorized employees to easily
    view, distribute, receive and manage messages. SWIFT-based standards, such
    as SWIFTNet Phase 2, are built into TurboSwift to maintain the highest
    security and reliability.
--  TurboFileAct -- a bulk messaging solution that reduces transaction
    costs and enables electronic transfer of any file type, including payment
    messages, check images, statements and securities information.
--  Payment Mapping -- automates the processing of financial messages by
    translating any message format, including SWIFT MT and EDI, into any other
    format required by virtually any front or back-office system.

By leveraging BankServ's leading SWIFT service bureau model, a corporation can gain the benefits of SWIFT access in a matter of weeks versus months or years. BankServ's dedicated support staff manages the system 24/7, making any necessary upgrades and handling disaster recovery when needed. This saves corporations the expense of having to maintain auxiliary disaster recovery facilities and hiring professional services needed to develop and operate the system.

Contact BankServ at +44 (0) 20-7562-7620 outside the United States or 415-277-9900 in the United States. Corporations attending SIBOS 2008 in Vienna between 15-19 September can visit BankServ's booth #B204 to discuss their specific needs and the innovative TurboSwift Corporate Suite offering.

About BankServ

Since 1996, BankServ has been developing and delivering leading-edge payments technology for financial institutions across the globe, including systems for Fedwire, SWIFT, internet payments, person-to-person payments, and Remote Deposit Capture. BankServ now provides over 400 companies in 52 countries with innovative electronic payments and SWIFT-certified technology solutions.