 Introduction
In today’s world corporates are seeking to reduce exposure to financial risk through tighter security and compliance measures, improving their global cash visibility whilst centralising and streamlining operations through automation.GlobalReach provides easy and cost effective access to the SWIFT network and the ability to transact with numerous banks around the globe who all communicate via a single industry recognised standard.
Who is SWIFT?
SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. SWIFT provides the international financial messaging network, standards and solutions employed by over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries.
What’s the benefits of SWIFT?
Utilising the service SWIFT offers helps to gain a better visibility of your global cash position by enabling your treasury to receive statements and balances from all its banks via a single channel. Using SWIFT, corporates can take advantage of dedicated and standardised message types and over 400 corporates are already doing so with 900 banks in 100 countries.
How do I connect?
GlobalReach is Decillion Group’s SWIFT service bureau’s located in both Sydney and Singapore. The service bureau’s are a fully outsourced solution allowing clients to connect to SWIFTNet, a private network, in a cost efficient and trouble free manner. This provides peace of mind and alleviates the need to worry about complex implementations, disaster recovery sites and ongoing maintenance.
Being a SWIFT partner and a service bureau provider Decillion Group is able to assist with each step; from joining the SWIFT community, ordering the correct components from SWIFT, implementing a configuration that meets with your requirements including straight through processing (STP) if required, providing user training and support through to service bureau maintenance and upgrades which all occur transparently to the user.
How does GlobalReach work?
GlobalReach delivers the messaging applications to a web browser on a standard office computer which connects to the service bureau via a secure VPN connection. This gives you the ability to manually enter and verify a message and keep track of what you have sent and received in the message file.
You can also specify automatic file transfer to exchange messages with your back office system if it can generate and read a SWIFT qualified message. If you are interested in the increased throughput, cost saving and increased accuracy benefits of STP but your back office system does not natively cater for SWIFT messages you can elect to employ the benefits of GlobalReach MAPS which can do the translations of incoming and outgoing
messages received at the service bureau.
For more information please contact your local Decillion office here or download our brochure from here
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