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MANCHESTER - Finseta, an international payments and alternative banking provider, has implemented AccessPay’s SWIFT connectivity solution to process cross-border payments, according to a press release issued Tuesday.
The implementation, completed in six months, creates integration between Finseta’s digital currency exchange platform FXPal and Barclays Bank. The project involved a four-way collaboration between Finseta, AccessPay, Barclays and SWIFT.
The solution provides end-to-end workflow automation, real-time visibility of payment status, and transaction reconciliation capabilities. According to the companies, the system validates, processes and monitors payment files in real time.
"AccessPay did the heavy lifting involved in implementing SWIFT connectivity. The quick route to go-live has meant that we can start realising the benefits sooner than if we built the solution in-house," said Declan Jones, Chief Product Officer at Finseta.
Tom Livock, Head of Enterprise Sales at AccessPay, described the implementation as "one of the smoothest and fastest" SWIFT projects he has been involved with over the past twelve years.
Finseta plans to use the SWIFT connectivity solution globally for all its customers, including high-net-worth individuals, large institutions and corporate clients.
The company operates in over 165 countries handling 150 currencies and is regulated by the Financial Conduct Authority in the UK, the Financial Transactions and Reports Analysis Centre in Canada, and the Dubai Financial Services Authority.
AccessPay, founded in 2012 and headquartered in Manchester, provides bank integration solutions that connect back-office systems to banks for automated financial data flow.
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