bbp ServiceBureau – the Fundtech subsidiary which dominates payments management in Switzerland – today announced plans to offer banks the ability to outsource the migration and management of the new SWIFTNet messaging service through its SWIFTNet ServiceBureau.
“By leveraging bbp’s SWIFT ServiceBureau, financial institutions can seamlessly migrate to this new mandatory standard while focusing on their core business,” says bbp. “As the first independent service bureau in Switzerland and the largest SWIFT service bureau in the world, bbp is well equipped to assist financial institutions with the migration.”
Through the bbp SWIFTNet ServiceBureau, bbp will transition customers from their existing connection to the new TCP/IP connection. All changes will be managed by the bbp ServiceBureau staff, in theory freeing customers from the attendant IT problems.
“The upcoming SWIFTnet FIN migration is an extremely important initiative for the financial services industry. It represents a major step forward.” adds Jon Biveroni, Chairman of bbp. “The SWIFT ServiceBureau delivers a highly competitive and proven lower cost solution in comparison to in-house SWIFT processing and management.”
Acccording to bbp, banks outsourcing SWIFT applications to bbp, which now include 95 banks in Europe, will enjoy minimal operational obligations, reduced maintenance and system support costs and un-interrupted daily business for them and their customers.
The bbp ServiceBureau also provides a 24/7 help desk and hotline, the handling of any technical problems, updates and support for all SWIFT modifications, daily administration of the communication lines, operation of authentication devices, as well as carrying out and monitoring back-up systems.
The migration from FIN over X.25 to FIN over IP and SWIFTNet began in August 2002 and will continue through the end of 2004, when S.W.I.F.T. will stop the support of the X.25 connection. bbp’s SWIFT ServiceBureau migration offer is available immediately to existing customers, as well as to approved SWIFT members.
Located in Baden, Switzerland, Biveroni Batschelet Partners AG (bbp) is a subsidiary of Fundtech. Founded in 1984, it specializes in developing interbank applications and middleware solutions. The company-operates the world’s largest SWIFT service bureau with a total of 60 Pan-European banks connected. S.W.I.F.T. has awarded bbp the designation of a “Provider of SWIFT Accredited Services” – its most coveted award. In addition, bbp has been named as an official supplier of RTGSplus by the German National Bank.