SAP SE is partnering with leading global provider of secure financial messaging services, SWIFT, on SAP Multi-Bank Connectivity to deliver comprehensive, out-of-the-box integration with the SWIFT financial network to SAP S/4HANA customers who need to connect with multiple financial institutions easily, reliably, and securely to keep up with the ever-increasing speed of business.
Based on SAP Cloud Platform technology, SAP Multi-Bank Connectivity is an integrated connectivity solution available either through an organisation’s usual banking partners or as an embedded connection to the SWIFT network, which consists of more than 11,000 financial institutions in more than 200 countries worldwide.
SAP Multi-Bank Connectivity combines the benefits of SAP S/4HANA with those of the SWIFT network to help organisations establish and maintain relationships with multiple financial institutions, while lowering onboarding costs, and increasing both transparency and control.
“With this partnership we can simplify bank connectivity for our clients, providing them with banking communication across multiple banks and countries,” said Christian Mnich, senior director, solution management treasury, SAP.
“The embedded solution allows companies to accelerate project implementations and increase security standards by leveraging the secured shared infrastructure provided by SAP’s cloud platform,” he said.
“The objective is to lower the barriers of entry that exist for corporates to reach all their banks globally,” said Marc Delbaere, head of corporates and supply chain, SWIFT. “This integrated solution is going to ease the lives of many corporate treasurers,” he said.
Headquartered in Belgium, SWIFT is a member-owned cooperative and the world’s leading provider of secure financial messaging services. SWIFT provides its community with a platform for messaging and standards for communicating, offering products and services to facilitate access and integration, identification, analysis, and regulatory compliance.