Clarency taps Form3 for access to Swift network
Singapore-based payments firm Clarency has partnered with account-to-account (A2A) platform Form3 to provide it with direct access to the Swift network.
Clarency taps Form3 for access to the Swift network
With the new partnership Clarency’s international customers, which comprise financial institutions, challenger banks, remittance firms and small businesses, will be able to send and receive international payments on the Swift network.
Form3’s cloud-based application programming interface (API) will provide Clarency full access the Swift network, allowing the fintech to connect to more than 11,000 institutions.
Form3 says Clarency is the first customer of its “Swift-as-a-Service” solution, with a main benefit of the solution a reduction in operational costs and overheads, as well as allowing customers to “future proof their payment systems and remain compliant with new Swift messaging standards”.
Bob Blower, Clarency’s CEO designate, says Form3’s cloud platform “will expand our payment capabilities safely and reliably. The Swift integration is a key element of our move towards self-clearing”.
Clarency says it will offer customer access to Form3’s Swift-as-a-Service solution from May.
