INVERSIS connects to the ESCB using TARGET2 Express™ and wins full approval from Banco de España
After an exhaustive collaboration between Inversis and Swissrisk consultants, Banco de España today has issued approval of the TARGET2 EXPRESS installation to Inversis.
With this approval, Inversis has achieved their two main objectives:
• A safe and reliable mechanism for the settlement of Euro payments on a real-time gross settlement basis, and
• To increase the efficiency of cross-border payments within the Euro area
As a participant in TARGET2, Inversis continues to maintain accounts and settle its domestic transactions at the Banco de España Settlement Service (SLBE). The TARGET2 Directory functionalities included in TARGET2 Express™, facilitates the use of the interlinking network to make cross-border payments between EU countries.
The TARGET2 solution improves efficiencies within Inversis’ Department of Settlement and Custody by automating exception handling instead of using manual operations. This frees Inversis’ staff to concentrate their international liquidity efforts on more productive work and manually resolve only exceptions that truly warrant human intervention.
In addition, the Financial Messaging solution provides Inversis’ with another tool to expand their Institutional Services, allowing them to better compete with large market players by offering more higher quality services to large institutional clients.
About Inversis Banco
Inversis Banco is Spain’s first independent financial services bank, institutionally supported by leading companies such as Caja Madrid, Caja de Ahorros del Mediterráneo, Indra, El Corte Inglés, Cajamar, Telefónica, Terra, and Banca March. Inversis Banco is not only an innovative on-line financial services firm; but also is providing global investment solutions to financial institutions around the world.
Dion - Powering Financial Solutions
Swissrisk is a European market leader of specialized banking software for Wealth Management, Insurance, Trading & Market Making and Financial Messaging & Workflow.