Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Fragmented Hell or Integrated Heaven? The Corporate Perspective on Today's Banking and Transaction Options


News provided by

AccessPay

02 Dec, 2014, 07:15 GMT

Share this article

Share toX

Share this article

Share toX

This image opens in the lightbox
AccessPay Logo (PRNewsFoto/AccessPay)
This image opens in the lightbox
Fragmented hell or integrated heaven (PRNewsFoto/AccessPay)

LONDON, December 2, 2014 /PRNewswire/ --

Modern corporates rely on comprehensive, real-time financial information for their decision-making - but getting this information is a bit like negotiating endless multi-junction highway repairs, each one presenting a unique set of driving rules and demanding a different user response. Today's legacy corporate banking system is fragmented. And it can barely cope with the rigours and demands of modern business. But what's the alternative?  

Viewing real-time balances and transactions; conducting automated reconciliations; managing liquidity and transferring money proactively: these are the daily goals of corporate treasurers. But the way that modern banking processes have evolved makes these harder than ever to achieve.

     (Logo: http://photos.prnewswire.com/prnh/20141202/718686-a )
     (Photo: http://photos.prnewswire.com/prnh/20141202/718686-b )

Corporates need to make decisions and take actions based on a clear end-to-end global account visibility; but instead they face a constant struggle to manage the multiple links provided by their banks, including proprietary banking via the internet, host-to-host, fax link, etc.

And the reality of all this? Different log-on procedures; different protocols; different formats; and different message standards - disparate information accessed through fragmented portals which makes standardisation impossible.

So, what if we could use the benefits of hindsight to wind the clock back and reinvent the corporate banking matrix? What would it then  look like? 

Just think how much more time- and cost-efficient it would be to process financial transactions end-to-end without unwanted manual intervention, and to be able to automate payment generation, reporting and back-office workflows.

Well, it exists today and is fast becoming popular with corporate treasurers. It's called 'straight through processing', a system which provides an integrated, consolidated transaction journey from start to finish.

Straight through processing uses single-entry technology that cuts right through the tangled routes of today's vital financial transactions. By no longer having to meet the demands of multiple bank interfaces, corporates become bank agnostic; meanwhile automation delivers significant benefits, including:

  • Reduced error rates
  • Greater visibility of transactions and cash positions
  • Greater staff efficiency and productivity
  • Improved data availability, reliability and accuracy.

Who is adopting straight through processing? 

Many corporates wanting to seize the opportunities offered by today's new technologies are turning to SWIFT. SWIFT has extended its product offering beyond its traditional banking user base by providing a corporate solution powered by straight through processing.

In fact over 10% of SWIFT membership is now made up of around 1300 corporates, 40% of which are 'mid-tier' such as Clarks, Smythson and Burberry, each with an annual turnover of less than £1billion. And one of the reasons they opt for SWIFT's solution is its ability to rationalise and consolidate a number of different channels from multiple banks into a single point, with obvious benefits including:

  • One gateway, one network and one security standard
  • Lower costs and reduced risk
  • Improved control and improved compliance
  • Increased productivity and effective business continuity.

But there's more…

Reaching for heaven 

To get the most from straight through processing, the best option is to look 'upwards' into the cloud where there are even greater benefits to be derived from SWIFT's innovatory cloud-based option, Alliance Lite2. Extremely secure and reliable, the cloud-based connection allows for the exchange of all SWIFT messages and file types, comfortably managing the volume needs of most SWIFT customers.

The cloud is not only the easiest way to connect to SWIFT, but also offers a light footprint for end customers, and supports both manual and automated modes of operation. Alliance Lite2's secure financial messaging helps corporates to free up staff to focus on more profitable business opportunities.

How does SWIFT deliver the cloud-based service? 

SWIFT has chosen the specialist payment and cash management company AccessPay as the first Global Partner for Cloud Services. It is this collaboration which enables SWIFT's bank and corporate customers to access a secure and flexible cloud-based payment hub, delivering streamlined processes and productivity benefits through seamless connectivity.

It is incredible to think back just a few years when technology was barely even imaginable. But today it is not just possible; it is reality, reflecting and responding to increasingly complex business needs by delivering effortless, secure and efficient transaction processing. And with vastly superior powerful reporting and analytical tools included in this cost-effective solution, no forward thinking company need linger in a fragmented transaction hell any longer.  

About AccessPay  

AccessPay was the first SWIFT partner in the UK, allowing them to offer cloud-based payment and cash management applications fully integrated with SWIFT.

AccessPay uses next-generation 100% cloud-based technology to offer their clients secure, efficient and affordable solutions for Multi-Bank Cash Management, SWIFT, Bacs Payments, Direct Debit Management, Faster Payments and SEPA.

For more information about AccessPay, visit http://www.accesspay.com
Marketing Communications: Lauren King, Email: info@accesspay.com
Phone: +44(0)203-282-7152
Twitter: @Access_Pay
Hashtag: #AccessPay

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.