ABB Capital is currently completing its pilot phase and plans to go live within several weeks. Biveroni Batschelet Partners (BBP) is a division of Fundtech, a provider of banking software and services.
According to BBP, ABB’s Group Treasury will replace its three existing e-banking applications with a single bank-independent Swift application that connects its three banks. ABB wants to streamline their processes and increase the security of their payments initiation process.
BBP said that many corporations are finding that using an independent SwiftNet solution eliminates the complexity of supporting multiple platforms, procedures and standards required in a multi-bank environment.
Per Trifunovic, CEO of BBP, said: We are delighted to have ABB as a client for our SwiftNet corporate access. ABB will benefit from simplifying its payment operations and will be better prepared to address the security threats that have become a greater factor in conducting financial transactions.