SWIFT integration with SAP Multi Bank Connectivity allows single point of entry for all your banking relationships.
Multi-bank corporates often face cumbersome manual and error-prone steps associated with the execution and reconciliation of payments, order to cash applications, and order entry documents around accounts payable and accounts receivable functions.
There may have been ad hoc solutions that have filled the gap. Businesses, however, are looking for seamless workflows from payment generation to approvals, with visibility of updates in their back-end, and yet within the confines of a cost-effective but secure cloud environment.Why not make the most of your SAP ERP or S/4HANA environment by complementing it with SAP Multi-Bank Connectivity?
SAP and Swift recently forged a partnership enhancing SAP Multi-Bank Connectivity to address the challenges of multi-bank corporates. Swift is the world’s leading provider of secure financial messaging services. The partnership will offer corporate treasuries and finance operations a comprehensive and out-of-the-box integration with financial institutions, connecting to the SWIFT network of more than 11,000 financial institutions worldwide.
SAP Multi-Bank Connectivity combines the benefits of SAP ERP or S/4HANA with a seamless integration into the SWIFT network, providing a single and secure point of entry by which they can manage all their banking relationships.
SAP Multi-Bank Connectivity and Swift combination is a new integrated connectivity based on SAP Cloud Platform technology.
- It simplifies corporate-to-bank connectivity for SAP ERP (or S/4HANA) and TMS customers who need to connect with multiple banks.
- It provides access to multiple banks locally and worldwide.
- It lowers onboarding costs.
- It increases transparency and control.
- It imparts integrity and reliability as it is in a private cloud (SAP Cloud Platform) owned and managed by SAP.
- It is highly secure and partitioned per customer along with their network of banks.
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