Cambridge Solutions sets up SWIFT Business Continuity Planning Centre in Singapore

Cambridge Solutions Ltd has announced that the Company has expanded its rapidly growing 'SWIFT' (Society for Worldwide Interbank Financial Telecommunication) Service Bureau’ operations with the inauguration of a new SWIFT setup in Singapore. The expansion is in line with the Company's strategic Business Continuity Planning (BCP) and will enhance the Company's service offerings to its customers. SWIFT supplies secure messaging services and interface software to financial entities worldwide.

"Cambridge's SWIFT Service Bureau has been growing rapidly and with this new facility, we now have Disaster Recovery facilities that mitigate risks even at the country level. The Singapore facilities will help us serve our clients more effectively," said Dilip Keshu, Chief Strategy / Corporate Development Officer and President ITO Division, of the Company. The Company is among a select list of elite firms to be granted the prestigious designation of IHQ or 'International Headquarters Status' by the Government of Singapore.

The SWIFT Service Bureau which was launched in 2005 aims at increasing operational efficiency and global cost savings through the outsourcing of connectivity and data processing.

As business and service partners of SWIFT, the Company has been providing SWIFT sales, support and education services across a range of SWIFT products to over 150 banks in six countries in Asia. The demand for the SWIFT Service Bureau stems from the trend towards outsourcing of data processing. Moreover, the development of facilities management services and integrated banking solutions have further reinforced the need for such platforms which enable groups of smaller users to share the hardware and operating costs of their SWIFT connections.

SWIFT is an industry-owned co-operative, supplying secure, standardized messaging services and interface software to 7,650 financial institutions in over 200 countries.

Source : Equity Bulls

Keywords