Bankserv Africa forges relationship with Strateʼs SWIFT Services

BankservAfrica forges relationship with Strate SWIFT ServicesAfter a long-standing working relationship with the BankservAfrica group, we are excited to have Africaʼs largest automated payments clearing house join and utilise Strateʼs SWIFT infrastructure.

We believe that we offer one of the best SWIFT infrastructures in the world and are pleased to have more clients seeing the benefits and coming on board. BankservAfrica, through its BSVA Integrated Services business, will be utilising our SWIFT infrastructure to allow them to send and receive messages over the SWIFT network.

As South Africaʼs Central Securities Depository, we manage one of Africaʼs largest SWIFT infrastructures and are one of the top 2% of SWIFT users globally. Our SWIFT Bureau Service allows clients to save costs and ultimately bring new efficiencies to their own organisations.

An affordable solution for secure transactions

Dan van der Westhuizen, CEO for financial and technology solutions at BSVA Integrated Services (a member of the BankservAfrica group) explains that by joining Strateʼs SWIFT network, the cost of acquiring, upgrading and maintaining the hardware and software required to connect to SWIFT is shared between all bureau participants.

The BSVA SWIFT bureau provides our customers (in over 16 African countries) with an affordable low cost (outsourced) solution in order to send and receive messages on the SWIFT network. The SWIFT service bureau also ensures automation and standardisation of transactions using end-to-end solutions, leading to risk mitigation and increasing company service levels, all undertaken securely and reliably.”

Our SWIFT infrastructure currently carries the bulk of financial messages for the equity, money market, and bonds settlement systems as well as all of the JSE and brokersʼ messages. It provides full redundancy in the form of an on-site ‘hot-standby’ and an off-site Disaster Recovery infrastructure.

Strateʼs SWIFT infrastructure

Strate has the best SWIFT infrastructure in Africa, and due to our varied network connectivity options, we have the capacity to host new clients, bringing them all the associated benefits.

Among the benefits we provide, we also have a Premium Plus Partnership with SWIFT and a cost-effective and state-of-the-art IBM infrastructure. In addition, we offer 24/7 monitoring and support, which includes support of an on-call SWIFT engineer.

Clients who utilise the Strate SWIFT infrastructure will benefit from the reduction of costs in terms of acquiring, upgrading, and maintaining the hardware and software components required to connect to the SWIFT network as these are shared between all Bureau participants.

For more information on using Strateʼs SWIFT infrastructure, please contact Leigh Bevis on LeighB@strate.co.za, or 011 759 5466.

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