SOURCE: EastNets

EastNets

September 19, 2011 13:06 ET

EastNets Awarded 2011 SWIFT Conformance Statement for en.MoRe Mobile Remittance Solution

EastNets Presents Banking Success Stories and Compelling en.MoRe Applications at Sibos 2011 in Canada

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - Sep 19, 2011) - EastNets, a global provider of compliance and payment solutions, has been awarded the SWIFTReady -- workers remittance conformance label for 2011 by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

As the first application in the workers' remittances program to offer a mobile remittance functionality, EastNets demonstrated en.MoRe operating with real time remittance between a Telco operator and a receiving bank.

"The SWIFT certification for the en.MoRe mobile remittance solution validates EastNets' commitment to deliver great-value solutions that satisfy the needs of our customers. We expect en.MoRE to benefit millions of migrant workers who regularly conduct remittances to their home countries, especially those residing in Europe, the Middle East and the Americas. EastNets will leverage its network of Mobile Operators globally to allow the maximum number of people to take advantage of this genuinely convenient, fast and secure mobile remittance solution," said Hazem Mulhim, CEO, EastNets.

A partnership agreement was signed earlier this year with BICS (Belgacom International Carrier Services) to provide Mobile Money Transfer services to millions of migrant workers worldwide. BICS operates an international network, with over 550 direct connections, including more than 250 routes to mobile operators, in more than 170 countries.

The first pilot implementation of the en.MoRe mobile remittance solution was completed successfully in cooperation with BICS starting the first Mobile Money Transfer corridor between Qatar and Pakistan.

EastNets will present case studies and discuss the impact of Mobile Money Transfer in changing the developing communities during its participation at Sibos 2011. Mobile Money is becoming an essential part in the everyday life of people in Africa and Asia, and is considered to be the fastest growing technology after social media.

Sibos 2011, organized by SWIFT, occurs September 19-23, 2011 at the Metro Toronto Convention Centre (MTCC) in Toronto, Canada. The conference gathers banking and financial experts and leaders from around the world to network, do business and talk extensively about financial fraud and other key industry issues. More information on Sibos 2011 and EastNets' participation can be viewed at http://www.sibos.com/.

About EastNets

EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporations around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, please visit www.eastnets.com.

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