Bank of America Merrill Lynch reached an agreement with Las Vegas, Nev.-based BankServ to provide a SWIFT service bureau for B of A’s corporate customers. The white labeled service bureau will supply software, hardware, and integration and transformation services. B of A and BankServ say that the service bureau in conjunction with the bank’s treasury services will let companies access SWIFT connectivity at a lower cost than connecting directly.
SWIFT, the not-for-profit bank messaging consortium, is rolling out a digital signature product, 3SKey. SWIFT says the product will simplify life for corporate treasurers with multiple banks by letting them use a single personal digital identity to manage all their banking relationships. 3SKey is compatible with SWIFT’s electronic bank account management solution. The product will be available first in Europe.
Incisive, a Sunnyvale, Calif., company that focuses on minimizing spreadsheet risks, has launched a spreadsheet collaboration and control solution called Concourse. The new product stores spreadsheet projects in a repository that employs spreadsheet management best practices, according to the company. Incisive says Concourse will encourage employees using spreadsheets to do so correctly, while giving audit team members easy access. The Concourse repository can be on a local computer or local network, or be hosted in the cloud by Incisive.
American Express and SAP say they’re working on an integrated payment solution that will allow SAP customers to more easily adopt electronic payments. Companies that move to electronic payments currently must cope with a range of different systems and providers. American Express and SAP aim to provide a “plug and play” solution that lets companies integrate different payments solutions, cutting the time and cost of moving to electronic payments. The solution will be available in the first quarter of 2011, the companies say.
SymSoft, a Milwaukee company that provides governance, risk and compliance solutions, is now offering a ControlPanelGRC Access Certification Manager, which lets companies that use SAP comply with segregation of duties rules. SymSoft says the new product automates the work of reporting on which employees have access to certain roles of transactions.
The tax and accounting unit of Thomson Reuters, the financial information company, is launching OneSource Unclaimed Property, which will offer consulting and compliance services related to state unclaimed property laws. Thomson argues that many states are seeking to remedy deficits by becoming more aggressive in enforcing unclaimed property rules.