Scandent implements 1st SWIFT Bureau

Scandent Solutions Corporation today announced the successful launch of the first SWIFT (Society for Worldwide Interbank Financial Telecommunication) Service Bureau.

According to a release issued by Scandent to the BSE today, the Service Bureau is an extension of the on-going business and service partnership the company has with SWIFT.

"Through this partnership, the company has provided sales support and education services across a wide range of SWIFT products to over 150 banks. By leveraging its strong SWIFT expertise and customer relationships, the company commissioned the first-ever SWIFT Service Bureau with the approval from the board of directors of SWIFT, Belgium," the release added.

The SWIFT Service Bureau aims at increasing the operational efficiency and global cost savings through the outsourcing of connectivity and data processing, the release said.