SOURCE: BankServ

BankServ Experts in Electronic Payments

November 23, 2010 08:00 ET

BankServ SWIFT Service Bureau Captures 85% of Ecuador Banking Market

Benefits Include Reduced Operating Costs, Critical Disaster Recovery Support, and In-Country Data Control

LAS VEGAS, NV--(Marketwire - November 23, 2010) - BankServ announced today that BusinessWare, its long-time business partner in Ecuador, has converted 85% of the total 25 banks in Ecuador to BankServ's outsourced solution for international financial message processing on the SWIFT Network. By replacing their previous in-house SWIFT connection with the BankServ TurboGateway Service Bureau solution, the banks have substantially reduced operating costs while simultaneously increasing their security and reliability levels.

Banco de Guayaquil, one of the largest banks in Ecuador that takes pride in providing high-quality service, is one bank that made the conversion. In 2009, BusinessWare presented Banco de Guayaquil management with a business case outlining 40% annual cost savings by converting its licensed SWIFT approach to the BankServ TurboGateway Service Bureau. Banco de Guayaquil was able to use a local instance of the BankServ TurboSwift interface to gain straight-through access to the SWIFT network and maintain in-country data control. But by outsourcing the actual connection to SWIFT through BankServ's Service Bureau, Banco de Guayaquil saved time, labor and costs versus having to operate the SWIFT connection themselves in-house. BankServ's TurboGateway Service Bureau also provided the critical disaster recovery services the bank needed to ensure a highly reliable and secure SWIFT operation and BusinessWare ensures cost-effective implementation and ongoing support services.

According to Clemente Calderon, Vice President of Systems and Technology, Banco de Guayaquil, "Without the BankServ TurboGateway Service Bureau, we would have been burdened by much higher costs for our SWIFT connection, and would have duplicated our investment in order to establish our own disaster recovery service for SWIFT. BankServ has saved us time and effort by providing both of these things for us in their Service Bureau solution."

Patricio Sanchez, CEO of BusinessWare, adds, "It's quite easy to prove to banks and corporations why the BankServ TurboGateway Service Bureau is the best SWIFT option. We just show the substantial reduction in costs and in­creased benefits versus a direct connection. We can also show that BankServ offers the highest level of security and reliability. BankServ is SAS 70 Type II compliant and one of the few non-bank companies that is regulated and annually audited by US bank authorities (FFIEC, OCC, FRB, FDIC, OTS)."

Contact BankServ at +44 (0) 20 7562 7820 outside the United States or (415) 632-1874 in the United States. To find a local distributor, visit www.bankservinternational.com.

About BankServ
Since 1996, BankServ has been developing and delivering leading-edge electronic payments and messaging solutions for over 500 financial institutions and corporations across the globe. BankServ works with distributors in over 52 countries worldwide to provide both local representation and a superior technology offering. For more information, visit www.bankservinternational.com.

About Banco de Guayaquil
Banco de Guayaquil was founded in 1923, and is the parent company of Banco de Guayaquil Espana in Spain and Banco de Guayaquil Panama. Its headquarters is located in Ecuador, where they operate over 130 branches and 680 ATMs throughout the country. More information about Banco de Guayaquil can be found at www.bancoguayaquil.com.

About BusinessWare
BusinessWare Cia. Ltda. was founded in 1999, and has since become a leading provider of SWIFT systems and services. BusinessWare has been BankServ's business partner for over 10 years and currently operates in Bolivia, Colombia, Ecuador, Panama, Paraguay, Peru and Miami, USA. More information about BusinessWare can be found at www.businesswarecorp.com.