VocaLink announces strategic partnership with Bankgirocentralen BGC AB

   

London, 11 October 2007: VocaLink, the transaction specialist, and Bankgirocentralen BGC AB (BGC), the Swedish payment processor today announced plans to launch a strategic partnership.   
 
The partnership will generate economies of scale that permit more cost effective payment services for BGC’s customers. BGC will also be able to offer a broader range of products, as well as faster delivery of new products at lower prices. The Swedish bankgiro system will also be in a position to handle an increased range of currencies. The collaboration will cover the entire bankgiro system and its payment products, including Autogirot. BGC will retain its current role and responsibilities to Swedish banks, firms and public agencies.

VocaLink has been developing a range of products and services including Corporate Access (a secure access through a single channel to shared services for banks and their customers) and the Euro Clearing & Settlement Mechanism (Euro CSM) which will process SEPA Credit Transfers and SEPA Direct Debit. VocaLink will work with BGC to provide payment services and handle the processing of its domestic automated payment schemes.

Marion King, chief executive officer at VocaLink says: “This is an exciting opportunity for VocaLink. We are delighted to be working with BGC to determine their future processing strategy. We believe that our experience to date processing in excess of 8 billion transactions per year and already handling 15% of Europe’s automated payments demonstrates our suitability for an organisation with the scale of BGC. This relationship is further testament to our investment in our infrastructure in support of our European growth strategy”.

“Collaboration with VocaLink will allow BGC to offer a strong, highly competitive range of products,” says Eva Gidlöf, CEO of BGC. “We will also be able to efficiently meet the new EU requirements and future-proof the Swedish bankgiro system. We are very pleased with the chance to work with VocaLink, which is among the leading European payment service providers, and which offers the same high level of quality and security as BGC.”

To view the Bankgirocentralen BGC AB website, please click here.