This week BELLIN, leading global provider of web-based treasury software and services for multinational businesses, has hit the100 BELLIN SWIFT Service clients mark with Xylem Europe GmbH based in Schaffhausen, Switzerland. This is evidence of the great success of the industry-leading BELLIN/SWIFT collaboration and BELLIN’s pragmatic and solution-oriented approach. No other provider has enabled as many businesses to gain access to global banking communication via SWIFT as BELLIN.
BELLIN pioneered the Plug & Play solution directly integrated in their treasury management system tm5, standardizing worldwide banking communication and making it accessible to medium-sized companies. This technology has been recognized on several occasions, including at the FinTech Innovation Awards. BELLIN runs the entire BELLIN SWIFT Service infrastructure in their own dedicated data centers, making them available to customers as a service. With BELLIN, communication via SWIFT has become straightforward, affordable and easy to use. BELLIN takes care of the entire onboarding process and the configuration.
“Integrating the SWIFT Network into our treasury management system tm5 back in 2013 has unlocked new potential and empowered companies when it comes to banking communication. The fact that it is not just large but also small and medium-sized companies who benefit from this attractive solution is definitely worth mentioning. Recently onboarded clients illustrate this very well,” Martin Bellin, founder and CEO of BELLIN, is pleased to announce.
“We have seen a soaring number of BELLIN clients opt for the integrated SWIFT Service, clearly illustrating that there is great need for such an efficient solution. Over 100 companies across all continents now use the BELLIN SWIFT Service, making this one of the biggest successes SWIFT has ever seen in its corporate client offering,” adds Mathias Schotte, SWIFT Senior Sales Manager, Corporate & Asset Management Clients, CCE.
There are a number of reasons why the BELLIN SWIFT Service has become so popular: it spans the globe and provides businesses with a single point of entry to all banks worldwide who can send and process SWIFT messages. This mainly concerns payment orders submitted electronically and account statement data, making companies completely bank-independent in terms of cash management and payments. This is true for existing banking relationships and when it comes to being ready for future growth. Companies receive their own SWIFT BIC (Business Identifier Code) and can communicate directly and without any limitations with third parties, independent of specific banks. BELLIN SWIFT Service users also benefit from a standardization of file formats, also contributing to their independence. SWIFT makes use of standardized FIN formats, such as MT101 for single payments or MT940 for account statements. FileAct enables members of the SWIFT Network to send any file and any payment format to their banks. In addition, the SWIFT connection can be used for other processes, such as the digital matching of treasury deals or digital trade finance.
Thanks to this high degree of standardization, small and medium-sized companies in particular benefit from a SWIFT connection, previously reserved to multinational groups.
BELLIN is a global leader in providing innovative treasury solutions for multinational corporations. Founded by a treasurer, BELLIN has been exceeding expectations since 1998. With the fully integrated, web-based software tm5 as the centerpiece, BELLIN offers solutions for all corporate treasury requirements: be it in-house banking, global payments, cash management; netting, risk and receivables management or trade finance, topped off by services such as Treasury as a Service (TaaS), BELLIN SWIFT Service, BELLIN Matching Service or the reporting tool BELLIN Vantage. tm5 meets all compliance and reporting requirements at the touch of a button, mobile and in real time – for more than 22,000 companies with over 50,000 users in 150+ countries and counting.