ADP Wilco launches SWIFT Service Bureau in Switzerland

ADP Wilco, a subsidiary of Automatic Data Processing, Inc. (NYSE: ADP), has announced the launch of its SWIFT Service Bureau for banks and asset managers in Switzerland. The service provides fast-track access to the SWIFT network for the full range of SWIFT messages including securities, treasury, derivatives, payments and cash management, all in a serviced data centre environment.

The service is backed by ADP Wilco’s in-depth expertise that spans both SWIFT processing and securities operations, and includes central provision and management of IT infrastructure.

"Through our SWIFT service, we are able to deliver the benefits of scalable, low-cost processing; high levels of operational efficiency; fast-track access to the SWIFT network and a timely, well managed response to market changes such as SWIFTNet. This enables financial institutions to optimise their client services while minimising costs," said Tom Carey, Chief Operating Officer, ADP Wilco.

SWIFT Service Bureau users can also take advantage of ADP Wilco’s SWIFT Transaction Manager, an advanced workflow feature that enables users to monitor the full lifecycle of their messages via an up-to-date browser, and create, release and re-route messages in a controlled STP environment. Users without knowledge of SWIFT formats can input any type of message which is then automatically transformed into the appropriate SWIFT format.

ADP Wilco already has a well-established SWIFT bureau in Germany where it has experienced considerable growth with seven new customers taking up the service within the past year.

The SWIFT Service Bureau further extends ADP’s broad range of services for financial institutions domiciled in Switzerland which include a comprehensive transaction processing platform for private banking and asset management operations and a German tax processing solution for Swiss banks to service their German investors.

ADP Wilco is hosting launch events for Swiss financial services firms in Zurich on 10th May and in Geneva on 17th May 2005.

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