EastNets unveils Swift connectivity solution

Dubai, May 23, 2010

EastNets, a leading provider of compliance and payments solutions, has launched a new service which supports entry-level connectivity to the Society for Worldwide Interbank Financial Telecommunication (Swift) network.

en.PaymentSafe enables low-volume users to process their financial messages seamlessly and at low cost. It leverages existing EastNets products that facilitate Swift Message creation, verification, authorisation and approval; Anti-Money Laundering checks; Reporting; Bank Identifier Codes (BIC) and International Bank Account Number (IBAN) Validation.

The solution runs on the EastNets Service Bureau (en.Service Bureau), a highly reliable managed service that connects more than 250 financial institutions to the Swift Network.

“en.PaymentSafe offers financial institutions, companies, funds distributors, investment managers and fund transfer agents low cost access to use the Swift messaging service,” said Hazem Mulhim, CEO, EastNets.

EastNets has over 25 years of experience in providing financial crime and regulatory protection, and enhancing payment processes to facilitate transparency, resiliency and enterprise control. Its payment solutions and services are used by more than 1,000 customers in 120 countries, he added.-TradeArabia News Service

Tags: EastNets | IT | Swift | compliance and payments solutions |