EastNets, a provider of compliance and payments solutions and services, has launched en.PaymentSafe, a new service which supports entry-level connectivity to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.

EastNets has claimed that en.PaymentSafe enables low-volume users to process their financial messages at low cost. It leverages existing EastNets products that facilitate SWIFT message creation, verification, authorization and approval; anti-money laundering checks; reporting; Bank Identifier Codes (BIC) and International Bank Account Number (IBAN) Validation.

The solution runs on the EastNets Service Bureau (en.Service Bureau), a service that connects more than 250 financial institutions to the SWIFT Network. Moreover, the new service is managed and maintained by a team of SWIFT-certified engineers. Customers enrolled for en.PaymentSafe need an internet browser to access the service.

Hazem Mulhim, CEO of EastNets, said: “en.PaymentSafe offers financial institutions, companies, funds distributors, investment managers and fund transfer agents low cost access to use the SWIFT messaging service. Organizations now have a convenient way to join the SWIFT community by entrusting their SWIFT and anti-money laundering operations to our service run by seasoned and trusted specialized professionals.”