The BELLIN SWIFT Service for direct message exchange with banks via SWIFT now enables communications with the ING and KBC banks. Several customers have already begun using this channel to transmit their payments and enjoy harmonized banking connections. Payments are an integral part of the tm5 platform – BELLIN is the first and so far only treasury management system provider to integrate SWIFT directly into the application. After a successful pilot phase, BELLIN and SWIFT made their partnership official this September at Sibos 2013 in Dubai.
Application with Direct SWIFT Integration
Now, using SWIFT is very simple. Each customer receives their own SWIFT connection which can be used directly from the application, without requiring companies to establish their infrastructure themselves or to involve third parties.
Successful Implementation for the Dutch Van Gansewinkel Groep
At the DACT Annual Conference, the Netherlands-based Van Gansewinkel Groep presented how they use the BELLIN SWIFT Service for robust and secure straight-through processing of payment orders. The corporate group primarily processes financial transactions with ING and KBC. For Van Gansewinkel, it was crucial to have all the benefits of the SWIFT network with its global reach and associated services, but at the same time, they did not want the implementation to be a big project requiring much time and effort.
Due to the integration of SWIFT in tm5, a rapid and smooth implementation was possible. The BELLIN tm5 system went live one month after the project started. Including the time needed to reach agreements with all banks and to settle all formalities, it took just three months to successfully conclude the SWIFT project.