Fin-X, a subsidiary of BankservAfrica is a service bureau providing SWIFT connectivity to banks, broker dealers, fund managers, central depositaries, clearing houses and other financial institutions looking at outsourcing certain components of their connectivity to the SWIFT network.

Recognised by SWIFT as a SWIFT-registered service bureau, the bureau provides access to the SWIFT network on a shared cost basis. By sharing infrastructure and support costs associated with running a SWIFT network, Fin-X can reduce certain entry costs as well as ongoing costs associated with running a SWIFT network, including:

• Capital costs associated with the purchase of dedicated hardware and software
• Hardware maintenance costs
• Costs of “dedicated” computer staff to manage a SWIFT network
• System integration costs

Hidden costs such as training, skills transfer, support and downtimeIn addition, the bureau helps mitigate business continuity and disaster recovery risks by maintaining a full backup and a disaster recovery site. For banks and financial institutions already on the SWIFT network, connecting to SWIFTNet via the bureau service will enable them to better cope with ongoing developments currently undertaken by SWIFT.

As more institutions are moving toward outsourcing their non-core activities, the Fin-X bureau service gives you the freedom to focus on your core business and enjoy cost savings.