Earthport PLC EPO signs MoU with SECB Swiss Euro Clearing Bank
September 27 2016 - 2:01AM
RNS Non-Regulatory
TIDMEPO
Earthport PLC
27 September 2016
RNS Reach
27 September 2016
Earthport plc
("Earthport" or the "Company")
Earthport signs Memorandum of Understanding with SECB Swiss Euro
Clearing Bank to provide foreign payment services
Earthport (AIM: EPO.L), the leading payment network for
cross-border transactions, is pleased to announce that it has
signed a Memorandum of Understanding (MoU) with SECB Swiss Euro
Clearing Bank (SECB), in order to reach an agreement to provide
foreign payment services.
SECB Swiss Euro Clearing Bank is based in Frankfurt, Germany,
and is a significant bank in the region. It is Earthport's goal to
establish itself as a local service provider of cross-border
payments to banks in various countries and SECB would be
Earthport's first client in Germany.
Earthport provides clients with access to fast, secure and cost
effective payments to over 60 countries globally, through a single
contract, a single technical integration and a single service
relationship. SECB will have access to Earthport's full range of
low value cross-border payment capabilities to support it in
delivering an additional alternative to its current foreign
transaction mechanisms.
Marco Venturella, VP, Earthport said: "SECB is a significant
clearing bank in Germany and we are delighted they have chosen
Earthport as their service provider for foreign payments. To name
SECB as our first client in Germany demonstrates both our
commitment to evolving our German presence and that Earthport is
able to support firms in the region in boosting the efficiency,
security and cost-effectiveness of their cross-border
payments."
Roland Böff, CEO, SECB Swiss Euro Clearing Bank said: "We are
committed to providing our clients with a global payments service
in Euro that is secure, efficient and far reaching. With
Earthport's global network across over 60 countries and ease of
integration with our current mechanisms, it was an obvious choice
for us as we look to expand our service offering for foreign
transactions."
For further information, please contact:
Earthport plc 020 7220 9700
Hank Uberoi, Chief Executive Officer
Simon Adamiyatt, Chief Financial Officer
Panmure Gordon (Nomad and Joint Broker) 020 7886 2500
Dominic Morley / Charles Leigh-Pemberton
Newgate (Investor Relations)
Bob Huxford / Helena Bogle 020 7653 9850
About Earthport:
Earthport is a regulated cross-border payments company
facilitating compliant bank-to-bank payments across 60 countries in
more than 60 currencies through a global network of 'in-territory'
bank partners. Earthport's innovative model provides access to a
centralised global clearing 'hub' removing the complexity, cost and
delays typically associated with managing global payments across
many intermediaries. Through a single connection and a single
service relationship, Earthport's clients can send payments
directly to almost anywhere in the world more efficiently and
transparently than ever before. Headquartered in London, Earthport
is listed on the London Stock Exchange, regulated by the UK's
Financial Conduct Authority and a member of SWIFT.
About SECB Swiss Euro Clearing Bank
At home in Frankfurt / Germany, SECB Swiss Euro Clearing Bank is
a regulated German commercial bank that is exclusively specialized
in the processing of euro payment traffic and all related customer
services, as well as cash and collateral management. It primarily,
though not exclusively, provides its services to banks and
financial institutions from Switzerland and Liechtenstein.
The business purposes of SECB include providing the connection
to the most important euro clearing systems and the processing of
payment traffic in euro on a global basis, primarily for bank and
financial institutions from Switzerland and Liechtenstein, as well
as those from other countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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