Uptake and customer experiences


In terms of banking clients, Bank of America is an example of a long-standing Bottomline relationship, extended in early 2011 through a new agreement to further enhance global treasury services with additional functionality for international payments and cash management. Bottomline still has a strong US base. Fifth Third Bank, for instance, has 10,000+ users across its banking network, managing wire initiation, foreign draft creation and cheque disbursement. For corporate payments, Bottomline sometimes competes


with the treasury management systems (TMSs) but Marcus Hughes, global head of marketing, felt this was because the corporate had not understood the strengths and positioning of each. Indeed, Bottomline forged a partnership with TMS provider, IT2 (now part of Wall Street Systems). Deutsche Bank uses WebSeries to underpin its outsourced


cheque generation service. It supports requesting, approving and printing cheques and remittance information locally, across multiple currencies and in a format to clear locally in a beneficiary’s country. On the Swift bureau side, there is a relatively large number


of corporates and banks using the platform. The bureau approach is relatively popular among lower-end participants and the globe has become populated with such facilities. In addition, Swift itself has made noises about providing such a facility itself, within the outsourcing aspect of its 2015 Strategy. An example recruit for the SMA-derived service bureau was Nationwide Building Society. Graham Evans, head of treasury operations, said taking this route over direct access was almost a ‘no-brainer’. The building society has a number of agent banks. Most of these – including its main bank, HSBC – offer a proprietary system for connectivity. It was becoming ever more clear that if Nationwide could create a secure link to Swift, it could reduce its massive re-keying effort. For Evans, this would take it on a path towards ‘managing our intra-day liquidity properly’. Around the time of this realisation, all UK-based financial institutions were facing up to the FSA’s new liquidity rules. Swift access, it seemed, would enable Nationwide to comply in the most cost-effective way by giving it a direct feed of real-time information on the status of all its payments and balances. Certainly it could have tried to take a feed from each of its proprietary bank systems, but this would have meant a bespoke connection for each one, explained Evans. ‘But if you take the Swift feed, every bank sends a standard message and you can build one interface to give one way of reading the data, and it all comes to you.’ Following a review of service bureaux, Nationwide chose SMA Financial to be its Swift partner. Project design work started in September 2009. ‘We went live with our first currency and agent bank in May 2010,’ said Evans. The follow- on phase saw Nationwide go live in early November 2010 with confirmations and matching, using SMA’s automated matching offering. This was based around SMA’s installation of Sungard’s Intellimatch product.


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By adopting an outsourced route to Swift access, Evans believed that Nationwide had managed to meet its needs quickly and relatively cheaply. ‘It just seemed to me that I was short-cutting a lot of problems by going to a company like SMA and, broadly speaking, that has proved to be the case.’ Another to sign up for the Swift service bureau has been


BNP Paribas, with its cash management division offering Swift connectivity to corporates. The white-labelled offering was to connect the bank’s UK and Ireland corporate client base to the global banking network, supporting all classifications of inbound and outbound messages, standards and formats. In late 2011, with the service not yet live, Hughes said the service would support BNP Paribas’ reach beyond France, with additional services around reconciliation, message reformatting and AML. ‘BNP realises ours is a proven model and are happy now to be offering that capability outside of France as well,’ he said. In early 2012, a project was initiated with Bottomline long-term partner, ANZ Bank, to develop a new mobile cash management solution, ANZ Transactive-Mobile. This mobile application was to be lodged with Apple in September and would ‘allow fast and secure access to real-time balance information, and approve payments on the go’, said Richard Busso, head of e-channels at ANZ. The mobile application was part of the ANZ Transactive cash management solution provided by Bottomline with WebSeries and Odecee (a domestic supplier) with its Velocedee mobile channel server. ANZ clients would be able to access their account balances, view previous and present day transactions, and approve or reject payments, said Busso. Although ANZ Transactive- Mobile would initially only be suitable for iPhone, iPad and iPod Touch mobile devices, the bank was planning to implement the application for non-Apple devices by 2013, as well as introduce this platform in key markets across Asia Pacific. In terms of Sterci-derived customers, Dexia in Belgium (which became Belfius Bank in 2012) was an example of a bank turning to Sterci for its SEPA and Target 2 requirements. It did so in the first half of 2007. The intention was to renew its messaging infrastructure to improve customer service, so the eventual project had a broader remit than solely SEPA/ Target 2. While Dexia was already a customer, there was a full selection process. A bank spokesperson cited the architecture and flexibility of GTExchange as reasons for the choice, so too the professional approach of the supplier. Dexia Banque Internationale a Luxembourg (now Banque Internationale a Luxembourg, or BIL) went the same way in 2007 with GTExchange. At the time of the selection, Dexia BIL had more than 20 institutions on its hosted Swift infrastructure (including


for SwiftNet Funds). With its Dexia Member


Concentrator service, Dexia BIL was offering connectivity to SwiftNet for corporates and other financial institutions. Sterci’s involvement in a number of Swift pilots, including SwiftNet Funds and Exceptions & Investigations, was seen by the bank as a positive sign. The solution was taken for SEPA and Target 2 but once more also to bring about an overall renewal of the bank’s messaging infrastructure. Basel-based Banque CIC replaced Sungard’s Mint with


Payment Systems & Suppliers Report | www.ibsintelligence.com


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