Product

BBP ServiceBureau – Comprehensive Outsourcing Service for Interbank, Compliance and Reconciliation

February 7, 2010

As an application service provider it offers financial institutions around the globe a series of interbank connections and transaction-related applications.

The focus is on providing secure and highly available connectivity to interbank networks like SWIFTNet,
SIC/euroSIC (SIX Interbank Clearing), SECOM (SIX SIS) and Euroclear CCI (via SWIFT Net). In addition, BBP provides high performance applications to check incoming and outgoing transactions in real-time against embargo lists.

To complete the programme, BBP offers a wide range of reconciliation services based on Smartstream Corona: cash & securities reconciliation and investigation. Message data is archived for ten years. Upon request, online access to the message data is available for the whole period. All banking systems can seamlessly be integrated and thus enable high STP rates.

The ServiceBureau complies with the strict outsourcing guidelines of the Federal Act on the Swiss Financial Market Supervisory Authority (FINMASA) which is reviewed through an annual audit.

The advantage of the ServiceBureau solution lies in the take-over of operations. BBP handles the complete operation of these applications, attending to technical problems, the implementation of new releases and updates, daily administration and monitoring of the communication lines, the operation of authentication devices and the execution and monitoring of data backups.