AccessPay announced on Monday an agreement with SWIFT that will allow the company to incorporate SWIFT connectivity into its cloud-based corporate payments and cash management platform.
As a result of the agreement, AccessPay will become the first in the market to offer financial institutions and corporations a cloud-based payments and cash management application with fully integrated SWIFT messaging connectivity.
“This latest initiative builds on the work we have already been doing with SWIFT over the last 18 months,” AccessPay CEO Ali Moiyed said. “In addition to producing timely and accurate views of cash positions, our solution will now also enable customers to communicate securely with banks all over the world with SWIFT financial messaging integrated seamlessly into our cloud-based platform.”
AccessPay is also seeking to integrate 3SKey—SWIFT’s multibank, multi-network and multi-application identity assurance and signing solution—into its application to allow for two-factor authorization at login, extended operational traceability and user access management.
“Combining a modern and feature-rich cloud-based payments and cash management application seamlessly with SWIFT’s new cloud-based interface – Alliance Lite2 – can deliver real benefits to the end customer,” Robert Schneider, the head of SWIFT’s corporate businesses in EMEA, said. “And by adding 3SKey on top, the customer can reap the full benefits of cloud-computing without compromising on security.”