This week we have hit the100 BELLIN SWIFT Service clients mark! Congratulations to Xylem Europe GmbH in Schaffhausen, Switzerland, and to the BELLIN team who have helped get more companies connected to the SWIFT Network than any other provider!
BELLIN pioneered the Plug & Play solution directly integrated in our treasury management system tm5, standardizing worldwide banking communication and making it accessible to medium-sized companies. This technology has been recognized on several occasions, including at the FinTech Innovation Awards. BELLIN runs the entire BELLIN SWIFT Service infrastructure in our own dedicated data centers, making them available to our customers as a service. With BELLIN, communication via SWIFT has become straightforward, affordable and easy to use. We take care of the entire onboarding process and the configuration.
There are a number of reasons why the BELLIN SWIFT Service has become so popular: it spans the globe and provides businesses with a single point of entry to all banks worldwide who can send and process SWIFT messages. This mainly concerns payment orders submitted electronically and account statement data, making companies completely bank-independent in terms of cash management and payments. This is true for existing banking relationships and when it comes to being ready for future growth.
Companies receive their own SWIFT BIC (Business Identifier Code) and can communicate directly and without any limitations with third parties, independent of specific banks. BELLIN SWIFT Service users also benefit from a standardization of file formats, also contributing to their independence. SWIFT makes use of standardized FIN formats, such as MT101 for single payments or MT940 for account statements. FileAct enables members of the SWIFT Network to send any file and any payment format to their banks. In addition, the SWIFT connection can be used for other processes, such as the digital matching of treasury deals or digital trade finance.
Thanks to this high degree of standardization, small and medium-sized companies in particular benefit from a SWIFT connection, previously reserved to multinational groups.
Find out what BELLIN clients love about the BELLIN SWIFT Service in our Success Stories bellin.com/success-stories
Or watch the “A game plan for a successful treasury match” webinar with our client Brückner Group on BELLIN TV or YouTube youtube.com/watch?v=Br1czYmdW5c. Josef Huber, Group Treasurer at Brückner Group, Karsten Kiefer, Product Manager at BELLIN, and Mathias Schotte, SWIFT Senior Sales Manager Corporate & Asset Management Clients, discuss the multiple ways in which Brückner makes use of the BELLIN SWIFT Service to manage their treasury, incl. global payments, FX risk management and digital trade finance.