Arizon moves financial messaging to Bottomline’s cloud solution
Also banking on the cloud…
Arizon Sourcing has migrated its financial messaging traffic to Bottomline Technologies’ cloud-based solution GTExchange, hosted in Switzerland.
Arizon, a joint venture between Raiffeisen Group and Avaloq, says the cloud offers cost transparency and cost reduction.
On top of this, the Bottomline Swiss Service Bureau will support all of Arizon’s domestic (SIC) and cross-border (Swift) transactions.
The bureau processes an average of 600,000 daily payments, rising to two million at peak. At those levels, Bottomline says it is “potentially the largest number of transactions being conducted on the cloud by a single bank”.
Markus Beck, head of business technology at Arizon, says the bureau was a “key step in both providing us with greater resiliency, flexibility and security, and reducing transaction costs for our customers”.
Arizon has been in operation since 1 January 2015 and employs around 260 people in Switzerland. Its mandate is to migrate all Raiffeisen banks to a new platform by the end of 2017. Arizon has taken over operational responsibility for all back office administration processes, such as payments, securities, central bank functions and trust administration.
Two launches
There have been two separate and recent developments for Bottomline.
It launched its Universal Aggregator for payments and the accreditation of its “Faster Payment” processing capability. Bottomline Universal Aggregator has been designed to give banks, corporates, governments and non-financial banking institutions an “easy plug-in” to an array of payment clearing and settlement systems around the world.
It also launched a new payments gateway solution, Direct FPS Service. The company says the service aims to help challenger banks gain access to the UK payments market, as well as enable any organisation wishing to make “quick” payments to their customers or suppliers.
