Expand Your Banking Reach

Fides Hybrid Service Model

April 21, 2020

Quickly Expand Your Banking Reach with the Fides Hybrid Service Model

We live in a society where many solutions are designed to be “one size fits all” — or at least, “one size fits most.” But the type of multi-bank connectivity that might work well for a company based in Switzerland that has three large banking partners in Switzerland, the UK and Germany may not work for a US-based company working with banks in the US or emerging countries.

That’s why clients rely on Fides to help them determine the perfect connectivity channels to meet their unique business requirements. With Fides’ hybrid service bureau solution, our 3,000+ clients can connect to more than 13,000 banks in 200 countries, through any channel.

The Fides Hybrid Service Model is a multi-network service option that allows corporate treasury teams to optimize and quickly expand their banking reach, with the added ability to integrate with third-party ERP, TMS, and other backend systems. Instead of being shoehorned into a solution that is “mostly” right for you, why not select one where you have more control?

Choose Your Own Adventure

Based on your needs and communication channel preferences, Fides will recommend, establish, and maintain the most effective multi-banking connectivity configuration for your business. This allows you to take advantage of the lowest networking and processing fees while obtaining the optimal connections to streamline messaging and payments.

Want to use SWIFT? No problem. Fides is the leading multibank connectivity-as-a-service SWIFT-Certified Service Bureau, supporting clients throughout the process of becoming SWIFT for Corporates members. And as an independently operated subsidiary of Credit Suisse, Fides can also extend uniquely connectivity to corporates who are not SWIFT SCORE members. Clients can choose the model that best meets their operational and financial needs: using their BIC, the CS/Fides BIC, or a combination.

The Fides Hybrid Service Model also extends beyond SWIFT. Your bank connections can be made via EBICS, H2H, other networks, APIs, or any combination of your choice. Fides can even work with tiny banks in emerging countries, where all communications are still made via FTP or email.

With Fides’ conversion services, you no longer need to worry about normalizing bank messaging formats. Instead, you can concentrate on other areas where you add value to your business. All the formats from all the banks are aggregated and converted for you.

Increased Security, Reduced Risk

Fides helps prevent payment fraud as well as protecting businesses against being used for money laundering and other financial crimes. For transaction processing continuity, sanction screening capabilities are included in our core solution, giving every client the ability to minimize the risk of blocked funds and liquidity loss. The Fides Hybrid Service Model improves the accuracy and consistency of your payment and transaction messages by validating and correcting all files prior to release. This ensures that your files are ISO compliant and bank-ready.

Belgian industrial company Etex relies on Fides’ powerful sanction filters to help it detect, prevent and mitigate payment fraud. While some organizations express concern about the chance of false positives, Etex Treasury Analyst Charline Renaud says it is worth it for Etex to reduce risk and have the security of knowing that no business is being conducted with sanctioned countries.

Fides also provides many other security features in addition to screening services. These include automated rule-based fraud detection, profiling and flagging based on payment history, compliance management, and more. Plus, you get the added security that comes from working with a company owned by a trusted, well-established Swiss bank.

Gain Time and Value

The Fides Hybrid Service Model makes corporate treasurers’ lives easier. Global banking coverage is ensured. Processes are optimized. Through aggregation, you gain transparency and visibility into your cash, increasing the accuracy of cash positioning and forecasting. By selecting the channels that work best for you, you can reduce the costs of maintaining individual connections (and with SWIFT, BIC and certification costs). And you also speed up your time-to-market, gaining the ability to make more connections, faster.

In addition to all the benefits you realize through hybrid bank connectivity, Fides offers you the freedom to choose how to access your customized solution. Fides can host and manage everything for you, you can log in through our easy-to-use Multibanking Suite web portals (perfect for distributed companies), or integrate with any TMS or ERP solution. But whichever option you choose, you’re guaranteed to gain time and value.

The Fides Difference

Fides is the world leader in multibank connectivity, payments and transaction communications. A market leader for more than a century, Fides is committed to the principles of Open Banking, making treasury and financial operations as efficient, transparent and secure as possible for all organizations.

Fides provides everything organizations need for efficient cash and liquidity management, all through a single platform — along with connectivity to more than 13,000 financial institutions through an unmatched range of methods and channels. Thousands of companies around the globe rely on Fides’ connectivity capabilities and comprehensive workflow, reporting, conversion, validation and security services, for their own businesses and for extending services to their clients.

Whether you access via the secure Fides Multibanking Suite or take advantage of our seamless integration with third-party ERP, TMS and other backend systems, Fides is the only platform you need.

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