LONDON and VIENNA, September 17 /PRNewswire/ -- VocaLink, the payment transaction specialist, has joined SWIFT's partnership programme. This commercial agreement will enable the two companies to share market intelligence, develop joint sales and marketing plans and work together on new products and services. It will also give VocaLink access to SWIFT's extensive customer base, including over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries.
Marion King, chief executive officer at VocaLink, commented: "We are delighted to join the SWIFT partnership programme. SWIFT provides a vital link between the global banking community and our transaction processing services. As one of its largest transaction customers, we already work together very closely. This partnership deepens and strengthens our existing relationship and demonstrates our belief that SWIFT is the transport layer of choice."
VocaLink is already one of the largest users of the SWIFTNet FileAct service, forecast to route over two billion transactions in 2008 and double this in the next three years. The alliance will enable the two companies to develop new products and services, joint sales and marketing plans and share market intelligence, as well as giving VocaLink access to SWIFT's extensive customer base.
SWIFT and VocaLink are also planning to bring SWIFT Transmission Service (STS) to a wider market. STS was created by VocaLink to offer its customers the popular SWIFTNet messaging service for financial institutions. The service enables banks to access Bacs processing and to make bulk payments of standing orders to the UK Faster Payments Service. The broader commercial offering of STS will be attractive to businesses wanting to submit Bacs payments over SWIFT as well as for bureaux and software providers.
Marion King added: "This is an excellent opportunity for both VocaLink and SWIFT to bring an attractive channel to a wider market. STS was added to our portfolio in 2007 as an alternative strategic connectivity channel for international banks. Due to high demand, we are now making it available as a stand alone service. This agreement strengthens our partnership with SWIFT and demonstrates our belief that SWIFT is the transport layer of choice."
Patrik Neutjens, Head of Partner Management at SWIFT, said: "We are pleased to welcome VocaLink to the SWIFT partnership programme. VocaLink is an important company to work with in the financial services sector and this collaboration will bring added value to SWIFT customers."
Notes to Editors
1. STS uses SWIFT's strategic messaging solutions SWIFTNet FileAct and SWIFTNet FIN. It also has FileAct capability for TARGET2, which is a flexible and low cost way for businesses to securely and reliably transfer files. STS is mainly used to exchange batches of structured financial messages and large reports and is particularly suitable for bulk payments.
2. SWIFTNet enables individual, richly featured messaging which requires the highest levels of security and resilience, including validation to ensure messages conform to SWIFT message standards, delivery monitoring and prioritisation, message storage and retrieval.
VocaLink is a specialist provider of transaction services to banks, their corporate customers and Government departments. It processes domestic and international automated payments and provides ATM switching solutions. On a peak day, the VocaLink automated payment platform processes over 90 million transactions and over half a billion in a month. Its switching platform connects the world's busiest ATM network of over 60,000 ATMs. Its Real-Time Payments platform provides the central infrastructure for the UK Faster Payments service. VocaLink is working with BGC to provide outsourced processing for the majority of Sweden's domestic payments.
Having pioneered electronic payments for over four decades, many of the world's top banks and their corporate customers rely on VocaLink to meet their transaction needs. Its processing services offer banks reach throughout the Single Euro Payments Area (SEPA) and beyond; and are complemented by value-added services that leverage industry expertise and technical capabilities.
Please visit http://www.vocalink.com for more information
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For further information please contact: Gerald Cross at the JJ Group, +44(0)1865-343100 or firstname.lastname@example.org ; Kevin Monks at VocaLink, +44(0)870-920-8574 or email@example.com ; Deborah Souter at VocaLink, +44(0)870-920-8651 or firstname.lastname@example.org .
For further information please contact: Gerald Cross at the JJ Group, +44(0)1865-343100 or email@example.com ; Kevin Monks at VocaLink, +44(0)870-920-8574 or firstname.lastname@example.org ; Deborah Souter at VocaLink, +44(0)870-920-8651 or email@example.com.