- EQPay (formally known as EQGlobal) to partner with SWIFT as a key enabler for enriching its customer value proposition
- Faster payment delivery to beneficiary accounts, real time tracking and notifications of payment status amongst major enhancements which Equiniti’s customers will benefit from
- Signing ceremony today at Sibos to formally present the partnership – all media invited (3pm/Q104)
EQPay the international payments division of Equiniti Group, is delighted to announce that it has partnered with SWIFT, the global provider of secure financial messaging services.
The partnership is announced at a time of significant investment for EQPay, a leading global business payment platform provider, as it enhances its customer experience though fast, flexible and reliable payments technology which operates with unrivalled accuracy.
The collaboration, which sees EQPay join SWIFT Alliance, will deliver clients a suite of products and services that include the widest and most cost-effective range of payment methods across a choice of speeds.
EQPay’s fast and accurate cross-border service - enhanced by SWIFT gpi technology - will also provide its customers with the ability to stop and recall payments and speed up the turnaround time for resolving failed or pending payments.
Customers will be able to search and view all the variables linked to a specific currency and payment method across all countries via a user-friendly interface, underpinned by the centralised, reliable resource of SWIFT Ref. It will also validate input data related to the payment method, beneficiary and corresponding bank details and provide real time feedback to customers to ensure all mandatory information is captured in the correct format. This will help achieve nearly a 100% straight through processing rate.
Through this partnership, EQPay will be able to transform the services it provides to all of its customers, in the UK and throughout the world.
Mark Churley (Managing Director of EQPay) and Cate Kemp (Head of UK, Ireland and Nordics at SWIFT) announce the partnership today through a signing ceremony at the annual Sibos event in London at 3pm on stand Q104.
Mark Churley, MD of EQPay, commented:
“Payments is at the core of our business and as a Group we are responsible for processing over £100 billion in value each year. We are delighted to be partnering with industry leaders SWIFT. This partnership provides us with new innovations which will transform our customer offering, domestically and internationally.”
“There will be tangible benefits to our customers with the speed of payments increasing, an improved customer experience with real-time tracking, responsive validation and insights into payment requirements and reduced time to resolve cases of failed or pending payments. We are investing heavily to maintain our market-leading proposition and this partnership is just the first step of many in this journey.”
Cate Kemp, Head of UK, Ireland and Nordics at SWIFT, commented:
“We are delighted to extend our relationship with Equiniti in what is such an exciting time for our industry. With gpi, we are transforming the speed, transparency and traceability of cross-border payments across the globe. By partnering and innovating with our customers we are able to offer client centric innovation and reduced friction enabling cross-border transactions that are as seamless and as real-time as domestic payments.”
For more information:
Temple Bar Advisory
Visit the Equiniti team at Stand Q104 at Sibos
Notes to Editor:
About Equiniti Group
Equiniti Group plc, an international technology-led services and payments specialist, provides non-discretionary payment and administration services to some of the world’s best-known brands and UK’s largest public-sector organisations.
It is the UK’s leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes.
Equiniti’s services, which are delivered by over 5,000 employees, benefit 36 million people in the UK, US and 120 other countries around the world.
EQPay is part of Intelligent Solutions - a trusted provider of innovative digital solutions - and is the trading name for Equiniti Global Payments Limited. Equiniti Global Payments Limited, trading as EQPay, delivers business payment services and is fully owned by Equiniti Group plc. Equiniti Global Payments Limited is regulated by the Financial Conduct Authority and is an approved E-Money License holder. It is a leading business payments platform provider that enables companies to make business payments to virtually anywhere in the world via its highly efficient and customer friendly proprietary platform backed by rigorous, trustworthy bank level security, safety and data protection.
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.
It provides a platform for messaging, standards for communicating and offers products and services to facilitate access and integration; identification, analysis and financial crime compliance.
SWIFT’s messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way.
Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.
SWIFT Connectivity - There are over 11,000 institutions connected to the SWIFT network across 200+ countries, processing the equivalent monetary value of the world’s GDP every three days.
SWIFT’s Global Payment Innovation (SWIFT gpi) - SWIFT gpi dramatically improves cross-border payments across the correspondent banking network. With SWIFT gpi, 50% of payments are credited within 30 minutes while payments can be tracked in real time via the SWIFT gpi Tracker.
Reference Data (SWIFTRef) - SWIFTRef is a single, standardised source of quality reference data and financial information.