SWIFT and Payment Services

As authorised SWIFT service bureau and SWIFT solution partner EFiS AG makes available production and backup machines for all incoming and outgoing SWIFT messages. From audit-proof, client-capable processing of transactions to the possibility of archiving, statistic evaluations etc. we make available the entire functionality for all SWIFT message types (FIN, FileAct and InterAct) and services.

Advantages which can be achieved by using SWIFT as a service of EFiS AG:

  • Reduction of operative costs for maintenance and operation of many in-house e-banking applications with additional staff and skill need.
  • Accelerated processing by using optimized processes with increased efficiency 
  • Increased safety of bank communication by working with experts
  • Consolidation of banking details, channels, applications and platforms generates savings
  • Volume increase cause no increased fixed costs. Significant reduction of transaction costs possible
  • AML and other compliance requirements can additionally be generated
  • Due to increasing regulation future quality and safety criteria can only be reached with high expenditure in self operation. Our automated and standardised processes reduce expenditure for internal audits.  

 Lower costs and reduced complexity and higher quality and safety ! 

Beside the pure connection to the SWIFT net we are offering module-based payment services like for example an entire payment factory for global enterprises.

The modules of the single levels can be individually combined and used.

As end-to-end solution vendor EFiS AG stands out clearly from the competition with its concept and the resulting variations:

  • modular service offer for quick implementation of additional and also individual requirements (from a basic SWIFT-connection to a complex payment factory)
  • EBICS connectivity
  • largest German SWIFT service bureau with customers from medium-sized companies, large international groups and important banks
  • fulfilment of highest safety standards and nearly 100% availability 
  • 7x24 support with high quality and trouble shooting competence
  • SWIFT certification of the highest levels
  • customer individual PCI certification possible
  • on-boarding support as optional part of the offer
  • support to fulfil extended compliance requirements
  • easy price model with the option to make costs variable
  • competent and quick project execution with experiences SWIFT-, ZV- and IT-specialists

Account statement service as example for an extended offer

Highlights

One of the most important questions of enterprise control is what liquidity is on which account. The EFiS account statement service makes this information available to the Treasury on a current basis.

  • availability of all electronic account statements
  • centralisation of information and transactions and additionally the option to integrate local affiliates into the structure
  • connection to all banks via SWIFT, EBICS or proprietary interfaces
  • no own BIC required, as the EFiS SWIFT BIC can be used as communication point to the banks
  • fulfilment of highest safety standards because of SWIFT certification and the option to have a  customized PCI certification.

The starting situation

Within the margin of continuously increasing trade business relations and the according banking contacts have multiplied.

The availability of account statements becomes more and more complex for many national and international banking accounts. It often requires a expensive application environment and the according know-how to keep it on the latest state. This challenge (continuous investments and the binding of resources) connected with a sometimes error-prone process of information collection induces many enterprises to think of another alternative. 

The solution

A internationally working SWIFT Service Bureau like EFiS AG offers the account statement service at a reasonable price. The statements of all accounts needed can be centrally collected and received. They are stored and sent to the enterprise for the periods defined. Furthermore, this application enables access to all account information prepared at any time.

The platform

The account statement service is a separate module of the EFiS Payment Factory and can be purchased as independent service. The following functionalities can be integrated into the account statement service:

  • deliver and sorting in one format, even when delivered by banks in different formats (for ex. camt MT conversion) 
  • extension for single transactions out of collective bookings for reconciliation purposes
  • transformation of text keys 
  • verification on completeness
  • distribution of the account statements per account to different systems
  • direct SAP connection