To access the SWIFT network there are two alternatives:
The easiest way is to engage a SWIFT Service Bureau.
It is also possible to set up a SWIFT AL2 connection (direct linked to the SWIFT network).
WIELTEC can help you to make the right choice and implement the solution.
The EBICS communication channel is the standard in a number of countries.
It is the most cost efficient solution. We can explain you why!
The number of banks that offer EBICS is growing fast.
WIELTEC has the knowledge to connect your banks via EBICS.
A H2H channel is a bank-specific connection. This can be a disadvantage. It also needs to be maintained (e.g. security updates, new protocols).
Depending on your situation it can nevertheless make sense to set up a H2H connection.
WIELTEC has implemented many H2H connections.
The MCFT channel is a payment channel similar to EBICS.
The channel is offered by a wide range of banks in Eastern Europe.
Together with EBICS it's the most cost efficient solution.
WIELTEC can explain you why.
The choice of payment channels depends on various factors. For instance, a client with 20 banks, of which 16 can be connected via EBICS/MCFT would probably connect the remaining 4 via separate H2H-connections because this is most efficient set-up. Alternatively, a client with 20 banks of which only 5 can be connected via EBICS/MCFT would connect the rest via SWIFT.
In the end, it is the corporate who decides which channel is preferred and how channels can be combined efficiently. The payment factory must be as flexible as possible to support the corporate strategic goals, even with a change of banks.
Moving away from traditional electronic banking systems to a modern independent payment system is a challenge. It starts with an analysis and leads to a strategy.
Several operational and IT-specific questions need to be answered: which new digital services, channels and formats are offered by the bank, and what is the best operational approach for my company?
WIELTEC can help you to make the right choice!