Broadridge Signs First Corporate Client to Its SWIFT Service Bureau
Broadridge Financial Solutions, Inc. (NYSE: BR), formerly ADP Brokerage Services Group, has announced that Villeroy and Boch, the leading European home lifestyle brand, is the first corporate client to use its SWIFT Service Bureau. Broadridge is one of the first SWIFT service bureau providers to set up an infrastructure for corporate clients.
Corporates are able to use Broadridge’s SWIFT Service Bureau to connect to the SWIFT network in a number of ways: as a TRCO (Treasury Counterparty), in an MA-CUG (Member Administered - Closed User Group), or within SCORE (Standardised Corporate Environment). Villeroy and Boch will use the SWIFT Service Bureau for its corporate treasury department’s payments messaging and for connectivity with its banking partners using the SCORE approach.
The Broadridge SWIFT Service Bureau provides fast-track access to the SWIFT network for the full range of SWIFT messages including securities, treasury, derivatives, payments and cash management, all in a secure data centre environment along with a host of value-add services such as FileAct, message mapping, reformatting and white labelled web access.
“The Broadridge SWIFT Service Bureau gives us very quick access to SWIFT messaging capabilities for secure and standardised messaging, on a cost-effective basis,” said Dr. Markus Warncke, Villeroy and Boch’s Treasurer.
“We are delighted to welcome Villeroy and Boch as the first corporate client on our SWIFT Service Bureau. Our SWIFT Service Bureau, including our SWIFT Transaction Manager (STM), has been upgraded to cover the SWIFT standards, and to help meet the requirements and market needs of corporate clients. We have invested in our services to enable corporate usage either directly or via a firm’s banking partner,” said Andreas Günther, a Managing Director of Broadridge in Europe.
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