Axletree Solutions SWIFT Service Bureau Welcomes Eight Leading Regional Banks

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Axletree Solutions, a leading provider of value-added SWIFT Connectivity services and solutions is pleased to welcome eight regional banks to their service bureau.

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Axletree Solutions announced today that eight leading regional banks in the United States joined its SWIFT Service Bureau. Moving along with the general trend in the industry, these banks replaced traditional in-premise SWIFT infrastructure with outsourced SaaS based SWIFT Connectivity through Axletree Solutions. By choosing a service bureau they substantially reduce the TCO while simultaneously increasing their efficiency, security and reliability.

Bank of Uruguay, Synovus, Bank of Houston, FirstBank Puerto Rico, American First National Bank, Hanmi Bank, Metro Bank and BCI Miami migrated to the outsourced mode of SWIFT Connectivity. Their move to a service bureau couldn’t have come at better time. All SWIFT users are expected to comply with a mandatory upgrade to a newer version of SWIFT’s Alliance 7 no later than March 2012. Migrations and upgrades place immense pressure on an already overwhelmed staff in the banks; by outsourcing their SWIFT operations to a service bureau they can now focus on their core services. For State-owned Banco República (BROU), Uruguay's largest banking institution, outsourcing their SWIFT connectivity to Axletree Service Bureau was a strategic decision. With limited IT resources, moderate SWIFT message volume and a mandatory SWIFT application migration, Banco Republica’s decision to outsource to Axletree saved them time, money, effort in addition to receiving critical disaster recovery and, on-going technical support provided by SWIFT certified engineers.

Axletree Solutions will provide hosting and SWIFT application maintenance services that include software upgrades, HOT Disaster Recovery, transaction processing of SWIFT messages, and 24x7x365 ongoing technical support delivered by SWIFT certified engineers. Axletree Solutions is a leader in providing SaaS based SWIFT connectivity services to banks and Fortune 500 corporations such as UPS, SYSCO, INEOS, American Express, Baker Hughes and Oxbow. It is widely recognized as the provider with the expertise in SWIFT messaging solutions and is the first in North America to receive SWIFT’s highest recognition for service bureaus- SWIFTReady Connectivity Best Practice Label.

“At Axletree we take great pride in what we do and how we deliver our services” said Mohan Murali, President Axletree Solutions. “We have always been at the forefront of adopting business processes that add value for our customers.” “As the first service bureau that is Alliance 7 compliant in the United States we have demonstrated that our customers’ come first and are insulated from major changes in the SWIFT environment that can impact their operations significantly.”

About Axletree Solutions
Axletree Solutions is the leading provider of SWIFT connectivity and treasury management solutions to banks and Fortune 500 corporations worldwide. Axletree combines expertise in banking communication with state of the art infrastructure to deliver cutting edge solutions that enable customers to improve efficiency and lower costs. Axletree Solutions has offices and data centers in New Jersey, Pennsylvania, Uruguay and Nassau, Bahamas. For information on Axletree Solutions please visit http://www.axletrees.com

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Archana Lalapet
Axletree Solutions
(732) 296-0001
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