Fundtech Ltd., a maker of banking software for corporate cash management and foreign exchange, announced a partnership Monday with VocaLink Ltd., the provider of the central infrastructure for the British Faster Payments service, to provide Swift connectivity to banks and their corporate clients in Europe.
The partnership, an extension of VocaLink's service bureau, will provide a low-cost, hosted connectivity service to SwiftNet, the network operated by the Society for Worldwide Interbank Financial Telecommunication, Fundtech said.
Fundtech, of Jersey City, said it will manage its part of the partnership through its BBP AG unit, which has Swift service bureau operations in Baden, Switzerland.
"Hundreds of customers in over thirty countries around the world are currently benefiting from BBP's reliable, economical and scalable Swift service bureau," Per Trifunovic, BBP's chief executive, said in Fundtech's press release. "Our partnership with VocaLink allows us to expand upon this throughout Europe, bringing the benefits of outsourced Swift connectivity to a larger community of users."