RBS SWIFT Bureau Launched

The Royal Bank of Scotland announces the RBS SWIFT Service Bureau for corporates that require an outsourced service for connecting to the SWIFT network. The new service will form part of RBS’s extensive range of proven banking solutions to help corporate customers manage their payments needs. It will be of interest to companies who require direct connectivity to SWIFT - for example, those with high volumes of international payments or multiple banking relationships - but without the costs and management overheads of full SWIFT membership. It is unique in offering this service via a direct relationship with a trusted banking partner.

The RBS SWIFT Service Bureau will deliver all SWIFT data processing and connectivity in a secure, reliable and resilient environment with full backup, disaster recovery, systems maintenance, infrastructure upgrades and on-going support with real-time monitoring and contingency. In addition to connectivity, the bureau service also manages messaging and business functionality normally provided by in-house applications, such as message reformatting to comply with current and ongoing SWIFT standards and data enrichment and repair to increase Straight Through Processing (STP) rates. The service will deliver this functionality from a single secure connection, whilst customers still have full control and management of their SWIFT messages.

The bureau offers users a flexible, cost effective solution that provides one route to a real-time, intra-day view of all cash positions, enabling better cash and liquidity management. It will allow users to take advantage of value added services and SWIFT Business Solutions such as cash management, reconciliation and reporting.

Gary Wright, Head of International Cash Management and Product Development, Global Transaction Services, RBS says:

“Customer feedback showed that corporates want to make better use of the SWIFT network and are looking to leverage their existing banking relationships to achieve this. RBS is a trusted partner that can support all on-going connectivity needs. This service allows corporates to focus operational and IT staff on managing and growing their core business secure in the knowledge that SWIFT connectivity, along with their other banking services, is provided by the UK’s largest corporate bank.”

The RBS SWIFT Service Bureau will be powered by technology partner Simplex Consulting. David Reeve, Chief Executive Officer, Simplex Consulting comments:

“Corporates increasingly view management of SWIFT connectivity as part of their overall banking strategy. There is a clear need in the market for a service bureau for corporates that combines the reliability of a trusted bank such as RBS and proven service bureau technology from Simplex. This offering enables corporates to fully realise the benefits to be gained from using the SWIFT network.”

Charles River in Japan Expansion

Charles River Development, (Charles River), an award-winning provider of financial software and services to the global investment management community, and Omgeo, a leading provider of post-execution trade management services, have expanded efforts to provide mutual clients in Japan with a full front- to back-office straight-through processing (STP) solution to automate processing of domestic and international trades, including settlement of Japanese equities. Japanese investment firms can leverage the Charles River Investment Management System (Charles River IMS) for global electronic trading via FIX (Financial Information eXchange) via the secure and private Charles River FIX Network. They can also link directly from Charles River IMS to Omgeo’s suite of products, including its Omgeo Central Trade Manager (Omgeo CTM), for trade matching

"We are expanding our regional presence and enhancing partner relationships to accommodate growing demand in Japan for Charles River’s products and services," said Cameron Field, Managing Director-Asia Pacific, Charles River Development. "As a member of Charles River’s Partner Integration Certification Program, Omgeo has a joint commitment with Charles River, which we are strengthening, to support mutual clients in Japan with integrated and seamless real-time trade matching."

Charles River was the first vendor to link directly to Omgeo CTM, and offers interfaces to Omgeo’s Oasys Global and Trade Match products through its Charles River Post-Trade module. Nearly 20 clients worldwide, including several in Japan, use Charles River IMS to link directly to Omgeo CTM. Charles River serves 18 clients in Japan, including three of country’s leading investment firms, who use Charles River IMS for domestic and international portfolio management, trading and compliance.

"Japan is an extremely important market for Omgeo. We are committed to helping clients achieve the efficiencies of true STP by partnering with leading service providers such as Charles River in the region," said David Estrada, Representative Director, Omgeo. "We have had a very close working relationship for many years, and we are excited to help our mutual clients go from strength to strength in their trade processing capabilities."