Austrian Bank BAWAG Outsources SWIFT Infrastructure to VocaLinkBy Vocalink, PRNE
Monday, October 25, 2010
AMSTERDAM, October 26, 2010 - VocaLink, the international payments specialist, today
announced that BAWAG P.S.K., Austria's fifth largest bank, has successfully
outsourced its SWIFT infrastructure to the VocaLink SWIFT Service Bureau.
VocaLink have delivered this solution in partnership with BBP AG, one of the
world's largest SWIFT Service Bureaus operators.
VocaLink's SWIFT Service Bureau provides the BAWAG group a
comprehensive solution for processing high volumes of SWIFT FIN, FileAct and
Browse in a highly resilient, reliable, secure and cost effective
The Service Bureau's integration and conversion capabilities
are designed to simplify message routing to applications, thereby BAWAG
benefits from increased straight through processing rates and lower SWIFT
total cost of ownership.
Rainer Schamberger, responsible Manager for payment
transactions at BAWAG P.S.K., comments: "Since going live on the VocaLink
SWIFT Service Bureau, the single access to the payments world provides us
with business benefits on several levels. The expense of maintaining multiple
Merva interfaces in-house has been removed and consequently our customers
benefit from this investment in the form of low service charges. Furthermore,
the risk and inconvenience of having to manage multiple systems and supplier
relationships is eliminated."
Fred Bar, Managing Director for Euro Services at VocaLink,
adds: "Through our partnership with BBP, we are able to offer BAWAG a single
route to SWIFT services. This greatly reduces the operational overhead of
managing SWIFT internally by outsourcing to SWIFT certified specialists,
enabling BAWAG P.S.K. to better focus on their core business. As a result, we
are able to fulfil the highest requirements in terms of stability,
availability and security at the same time."
Notes to the editor
Any bank that offers SEPA services needs to ensure it can
reach any other SEPA compliant bank in the European Union for the core SEPA
Direct Debit by 1 November 2010. For banks outside the Euro zone, the
deadline is 1 November 2014. VocaLink has an innovative approach to reach
which is unique in the European market and draws on a network of partner
banks, interoperable CSMs and banks' own bilateral arrangements.
About BAWAG PSK
BAWAG P.S.K. ranks among the five largest banks in Austria and is the
leading retail bank for the middle-income market. We are a modern, service
oriented one-stop financial institution with excellent market know-how, a
wide service range for individual needs and innovative products, both for
retail and commercial customers. We report a balance sheet total of 42.8 bn
Euros and administer customer deposits of 22.2 bn Euros. With 150 BAWAG
branches, approximately 1,000 Post offices and 900 Post Partners, BAWAG
P.S.K. has the biggest centrally managed distribution network in Austria. 1.6
mn retail customers and 60,000 corporate customers trust in us. BAWAG P.S.K.
is the first address for Austrian payment transactions. In total the group
has approximately 4.900 employees. The BAWAG P.S.K. is 100% owned by a
consortium led by Cerberus Capital Management L.P, which includes the
Austrian Post AG, Generali Holding Vienna AG, Wustenrot Verwaltung- und
Dienstleistungen GmbH and leading Austrian industrialists.
VocaLink is a specialist payments partner to banks, their corporate
customers and government departments. We design and deliver smarter domestic
and international automated payments systems, and smarter ATM switching
solutions. In fact, our switching platform connects over 60,000 ATMs, the
world's busiest network, while our payments platform processes over 500
million payments per month.
Having pioneered electronic payments for over 40 years it's perhaps no
surprise that many major organisations have come to rely on our services.
For example, our Real-time Payments Platform is the central
infrastructure for the UK's Faster Payments Service, whilst we are working
with BGC, Sweden's leading payments provider, to provide outsourced
processing for the majority of Sweden's domestic payments.
We are very proud of our service delivery record. Our platforms operate
on never-fail technology to ensure total reliability and availability 24
hours a day allowing us to meet our customer needs.
In short, our smarter payments capabilities offer banks, corporates and
government departments reach throughout SEPA and beyond.
Vocalink has established a strategic partnership with BBP AG
one of the world's largest SWIFT service bureaus providers, BBP is a
subsidiary of Fundtech Ltd. (NASDAQ:FNDT).
For more information please see www.vocalink.com or
Deborah Souter VocaLink +44(0)870-920-8651 Elena Souter VocaLink +44(0)870-920-8637 Zoe Gray Hotwire (PR for VocaLink) +44(0)207-608-2500 / 4641 Inquiries regarding BAWAG P.S.K.: BAWAG P.S.K. Group Press Office Tel. +43(0)5-99-05-31210, e-mail: firstname.lastname@example.org
For more information please contact: Deborah Souter, VocaLink, +44(0)870-920-8651; Elena Souter, VocaLink, +44(0)870-920-8637; Zoe Gray, Hotwire (PR for VocaLink), +44(0)207-608-2500 / 4641; Inquiries regarding BAWAG P.S.K.: BAWAG P.S.K. Group Press Office, Tel. +43(0)5-99-05-31210, e-mail: presse at bawagpsk.com
Tags: Amsterdam, Netherlands, October 26, VocaLink