Bharat Coop Bank Adopts SWIFT Connection

by CXOtoday Staff    Feb 16, 2009

Bharat Cooperative Bank (Mumbai) recently partnered with Globsyn Infotech (formerly Synergy Log-In Systems) to connect to the SWIFT Network (Society for Worldwide Interbank Financial Telecommunication).

Commenting on the bank’s decision to opt for Globsyn Infotech as their payment solutions partner, Vivek Shanbhag, A. G. M., Bharat Co-operative Bank, said, "We opted for Globsyn Infotech as our SWIFT Interface provider after a thorough due diligence. We did a detailed functional and technical study of the products available and found TurboSWIFT a cost-effective SWIFT Interface meeting our Bank’s present and futuristic needs.

"Additionally, as we believe in relationships, our main focus is always to associate with vendors with remarkable support record. We did extensive reference checks with our contacts in the industry before deciding on Globsyn as our SWIFT interface provider."

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. This solution will help the bank’s branches across 30 cities in India connect to the SWIFT network using the TurboSWIFT suite from BankServ, USA.

Globsyn has implemented TurboSwift in nine banks so far in India. "Most banks that have received fresh Forex Licenses, in this fiscal, have chosen us as their Payment Solutions partner, which is not only a significant achievement, but goes a long way in proving the faith our customers put on us for mission-critical assignments," said Bikram Dasgupta, chairman, Globsyn Infotech.

Globsyn Infotech has been the Indian partner for Bankserv for over a decade now.