Ivobank, an online banking service specialising in online payments and money transfer services, has become a participant in Swift's Workers' Remittances pilot and is working on a solution with its messaging systems supplier, Aqua Global.
As a result of the project, the supplier’s e2gen Integrated Payments Processing System is being enhanced with the XML message support for Swift’s initiative. The solution will be integrated with the bank’s core banking system, Fiserv CBS’s ICBS.
The current work between Ivobank and Aqua Global is the latest in a series of innovative projects between the two companies. The bank’s remit is to offer faster and cheaper cross-border and online payments, initially for customers in the UK, Spain, Ireland and Canada, with France, Italy and Germany added since then. The bank selected Aqua Global and its e2gen solution at the outset and, over two years, has introduced a range of payment solutions via the platform. This includes processing for Ivobank’s virtual card product, local clearing including receipt and payments via Bacs, and all incoming and outgoing Swift messages. The bank was one of the first in the UK to offer a Sepa compliant payment solution. Read More