EastNets Launches en.PaymentSafe Solution for Convenient SWIFT Connectivity

Dubai, UAE - 25 May 2010

On-Demand Service Enables Low-Volume Users to Benefit from Secure, Low-Cost and Feature-Rich SWIFT Access

EastNets, a leading global provider of compliance and payments solutions and services, has launched en.PaymentSafe, a new service which supports entry-level connectivity to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
en.PaymentSafe enables low-volume users to process their financial messages seamlessly and at low cost. It leverages existing EastNets products that facilitate SWIFT Message creation, verification, authorization and approval; Anti-Money Laundering checks; Reporting; Bank Identifier Codes (BIC) and International Bank Account Number (IBAN) Validation. The solution runs on the EastNets Service Bureau (en.Service Bureau), a highly reliable managed service that connects more than 250 financial institutions to the SWIFT Network.

“en.PaymentSafe offers financial institutions, companies, funds distributors, investment managers and fund transfer agents low cost access to use the SWIFT messaging service. Organizations now have a convenient way to join the SWIFT community by entrusting their SWIFT and Anti-Money Laundering operations to our service run by seasoned and trusted specialized professionals,” said Hazem Mulhim, CEO, EastNets.

The new service is managed and maintained by a team of expert SWIFT-certified engineers. Customers enrolled for en.PaymentSafe only need a standard internet browser to access the service. en.PaymentSafe’s ‘on-demand’ model combines flexible, easy and fast deployment with low cost of ownership to make joining SWIFT easy.

EastNets has over 25 years of experience in providing financial crime and regulatory protection, and enhancing payment processes to facilitate transparency, resiliency and enterprise control. Its payment solutions and services are used by more than 1,000 customers in 120 countries.

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