Following this announcement, Broadridge Financial Solutions integrated Swift SCORE+ services for Booking.com, aiming to optimise corporate payment connectivity, transparency, and efficiency.
In addition, the Broadridge solutions will operate through its established infrastructure that includes frictionless and secure Swift API connectivity and end-to-end payment lifecycle management. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, SCORE+ was developed to provide corporate institutions with a single Swift network connection for all banking partners and collaborators. Through the process of leveraging richer data coming from the ISO 20022 standards and real-time tracking, SCORE+ aims to provide multinational corporations with optimised payment visibility, regulatory compliance, and secure, streamlined financial operations.
As corporations managing multiple banking relationships are facing fragmented payment procedures, such as logging into various bank portals, they also need to deal with inconsistent formats and the process of navigating limited transaction visibility. With this in mind, Broadridge’s solution for SCORE+ will enable Booking.com to access multiple benefits, including a single multi-bank connectivity (One Swift-based connection will link the company to all banking partners for their automated payment flows and the process of eliminating the need for several online portals), real-time payment tracking (providing end-to-end visibility on both onbound and inbound transactions, reducing delays and operational risk), and automated exception handling (offering instant alerts on payment failures and the ability to resolve transaction issues in near-time). In addition, it will also provide real-time visibility towards end-beneficiary credit confirmations and returns timelines, as well as instant cash reporting (representing real-time financial insights that will optimise cash flow and liquidity management, improve decision making, and boost operational efficiency).
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