National Grid selects Bottomline’s SWIFT Access Service for cloud-based SWIFT connectivity
SWIFT connectivity solution delivers greater security and efficiency for Treasury payments
PORTSMOUTH, NH and LONDON, UK –October 29, 2012 – Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that National Grid, an international electricity and gas corporation, has increased processing security and efficiency for its treasury payments by selecting Bottomline’s cloud-based SWIFT Access Service. SWIFT Access Service has enabled National Grid to manage cash more effectively while reducing operational risk.
SWIFT Access Service offers a reliable, efficient and cost effective alternative to in-house SWIFT connections for corporations and financial institutions. It delivers the enhanced security required for high value payment operations alongside significant efficiency and cost benefits. Delivered as a subscription-based Software as a Service (SaaS) solution, SWIFT Access Service facilitates rapid on-boarding to SWIFT and shorter deployment timescales, ensuring more rapid realization of business benefits.
“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 plc. “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.”
“Enhancing visibility and rapid access to cash is a vital goal for any business,” said Nigel Savory, Managing Director, Europe at 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.”