AccessPay has signed an agreement with Swift to incorporate Swift connectivity into AccessPay's cloud-based corporate payments hub and cash management platform.
The addition of Swift, the global financial messaging service, is designed to boost AccessPay's SEPA, Bacs (a U.K. electronic payment processing service) and direct debit management services. AccessPay will offer a cloud-based payments and cash management application with Swift's messaging connectivity fully integrated.
AcessPay is also building support for 3SKey, Swift's multi-bank, multi-network and multi-application identity assurance and signing product. Users of the AccessPay cloud product will be able to deploy access management and two-factor authentication at login.
"This latest initiative builds on the work we have already been doing with Swift over the last 18 months. In addition to producing timely and accurate views of cash positions, our solution will now also enable customers to communicate securely with banks all over the world with Swift financial messaging integrated seamlessly into our cloud-based platform," says Ali Moiyed, CEO of AccessPay, in an Oct. 21 press release.
Swift also recently partnered with Misys to improve the accuracy and consistency of payment transactions traveling through bank networks.