Financial Technology

Financial Technology

October 30, 2012

National Grid Selects Bottomline's SWIFT Access Service

Bottomline Technologies (News - Alert), a provider of cloud-based payment, invoice and banking solutions, recently announced that its cloud-based SWIFT Access Service has been selected by National Grid, an international electricity and gas corporation. The service has helped the organization increase processing security and efficiency for its treasury payments.

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“Access to accurate and timely balance and transaction reporting data, greater security and operational efficiency helped build the business case for us to choose a cloud-based SWIFT Service Bureau model,” explains Mark Flawn, assistant treasurer, National Grid. “This fits with the strategic initiative at National Grid to use remotely hosted solutions where possible. We are able to achieve better results by using a cloud platform, as it removes the overhead of maintaining the infrastructure on our own servers which in turn frees up both our Treasury and IT resources.”

SWIFT Access Service helps organizations gain visibility and control of their global “cashscape” while reducing costs and optimizing working capital. With SWIFT Access Service, the customers can access the complete suite of SWIFT products and services, as well as integrated global and cross-border payment options from Bottomline. They can also get technical and operational support from a dedicated, accredited service bureau comprised of the largest number of SWIFT-certified experts.

“Enhancing visibility and rapid access to cash is a vital goal for any business,” said Nigel Savory, managing director, Europe, Bottomline Technologies. “We are delighted to be able to help National Grid and our other customers achieve this goal through our SWIFT Access Service, as well as a range of value-added payments and cash management solutions which enable our customers to leverage their investment in SWIFT for an even greater on-going return on investment.”

In related news, Norm DeLuca, Bottomline's managing director, Banking and Financial Services, has been named to Global Finance magazine's 2012 "Who's Who in Treasury and Cash Management." Mr. DeLuca is responsible for Bottomline's suite of market-leading transaction banking solutions.

Edited by Rachel Ramsey

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