Thursday 15th March, 2012

SWIFT connectivity solution delivers efficiency and lower operational risk

Bottomline Technologies has announced that ITV, the largest commercial television network in the UK, has successfully implemented Bottomline’s SWIFT Access Service to improve its cash reporting and integrated end-to-end treasury processes. 

The service has enabled ITV to increase levels of treasury automation, improve efficiency and lower operational risk.

Bottomline’s SWIFT Access Service offers connectivity to the SWIFT network, helping corporations and financial institutions to streamline their payments processes and achieve lower costs, improve straight-through processing, tighten security and lessen operational risk in their cash management strategy. As a subscription and transaction-based Software as a Service (SaaS) solution, the platform enables rapid implementation and return on investment without requiring the customer to host software, develop costly internal infrastructure or hire internal SWIFT experts.

“The treasury project has enabled us to automate time consuming manual processes such as accounting and reconciliation and free up our resources to focus on resolving exceptions.  By adding SWIFT connectivity to our Treasury Management System we have benefited from greater operational efficiency and lower levels of risk.  It has allowed us to develop and roll out better treasury controls whilst improving the ease and convenience with which we make our payments”, explains Karen Fagan, Treasury Back Office Manager, ITV Plc.

Nigel Savory, Managing Director, Europe at Bottomline Technologies said, “A growing number of corporates are adopting a cloud-based approach to connecting with the SWIFT network via our SWIFT Access Service. This delivers the benefits of secure and resilient access to multiple bank relationships, with faster implementation, lower costs and in-house IT resource, while structuring transaction fees and subscriptions on a recurring basis. We are delighted to be working with ITV and look forward to supporting them on this platform for many years to come.”