Synlog connects SVC Bank to SWIFT

All the SVC branches in 13 cities were connected to the SWIFT network by Synlog using the TurboSWIFT suite from BankServ, US, a statement here said.     

"The bank has taken the decision to have its forex operations with contemporary infrastructure so as to render excellent and efficient customer-service," SVC Bank's CEO Shrinivas D Joshi said.      SWIFT direct connectivity is one such step in this direction which is a worldwide financial messaging system, well-known for its effectiveness and confidentiality, he said.      

"There is a clear requirement in the Indian market for effective and efficient SWIFT messaging solutions and Bankserv's product are a perfect fit to solve this need," Synlog's Chairman Bikram Dasgupta said.     

TurboSWIFT is a full-featured and certified messaging interface (CBT) used at various banks around the world for secure messaging of international funds transfer (forex), conforming to the SWIFT standard.     

SWIFT is the industry-owned co-operative, which provides secure, standardised messaging services and interface software to over 8,100 financial institutions in 208 countries and territories.     

SWIFT members, include banks, broker-dealers and investment managers.