Source: Finextra video: PacNet Services
PacNet Services is a company specialising in cross-border cheque and credit card processing. Managing director Paul Davis and senior developer Joerg Beekmann spoke to Finextra about their experiences of joining an MA-CUG sponsored by Barclays and using SMA Financial's bureau service.
In this video they cover:
- Administrative burdens that corporates face under the member administrated closed user group (MA-CUG) model for corporate access.
- How these could be addressed if Swift was able to handle bilateral contracts over its network rather than sending letters in the post between counterparties.
- How they plan to use FileAct for submission of transactions to the UK Faster Payments system.
- Further recommendations for improvements that could ease the burden of corporates seeking efficiency gains by using Swift.