RIX INstream Brings Automated Payments Controls and Settlement Solutions to the Swedish Central Bank
Naperville, Ill. — August 3, 2005 — Unitech Systems, Inc., the leading provider of automated information control solutions, has formed a partnership with BGC to resell a new service, RIX INstream that will automate the payment and settlement controls towards the Swedish Central Bank (Swedbank). The service will be launched to financial institutions in Sweden in the fourth quarter of 2005.
"RIX Instream will create automated information controls between the bank and BGC," says Elisabeth Johnson, Head of Clearing at Swedbank. "The service contained originally the settlement, but now has expanded to include monitoring and file management. RIX Instream captures the actual errors and when these occur, the bank receives real time alarms," Elisabeth Johnson concludes.
"Unitech Systems, Inc. is pleased to be partnering with BGC as part of an overall payments and controls solution to financial institutions in Sweden," said Dan Dopp, Managing Director of International Operations for Unitech Systems. "This is a model of how automated information controls can provide insight into the end-to-end payment process, even when spanning two organizations. We look forward to working with BGC in serving Swedbank and the many other financial institutions that will benefit from the RIX INstream solution."
About Unitech Systems, Inc.
Founded in 1982, Unitech Systems, Inc. is the leading provider of automated information control solutions. Unitech Systemsâ?? portfolio of controls helps companies comply with laws and regulations such as Sarbanes-Oxley by assuring that their processes – and the information that they contain – are accurate, consistent, and reliable. Unitech Systems serves hundreds of customers including 80 percent of the top ten financial services companies worldwide, and 70 percent of the top ten U.S. life insurance companies. The company maintains its home office in Naperville, Ill., and has regional offices in the U.S., Canada, Western Europe, and affiliates in Italy, Chile and Australia. For more information, call +1.630.505.1800 or visit www.unitechsys.com.
About BGC
BGC is an intermediary provider of solutions for payment and transaction information and also solutions for digital identifications. The company products create the pre-requisites for safe and effective business transactions for Swedish banks, corporations and authorities. BGC develops continuously new products to assure a product portfolio that can always satisfy the customer needs. BCG is owned by SEB, Svenska Handelsbanken, Swedbank, Danske Bank, SkandiaBanken, Lansforsakringar Bank, Kaupthing Bank of Nordea. Within the main product area, BGC every bank day mediates 17 billion SEK or 1,5 million payment assignments.
About Swedbank
Swedbank is one of the leading banking groups in the Nordic countries with total assets of SEK 1,004 billion, 4.2 million household customers and 225,000 corporate customers in its home market. Its own 496 branches and the 289 belonging to the independent and partly owned savings banks together constitute Swedenâ??s largest distribution network for financial products and services. The Group also holds a market-leading position in the Baltic countries of Estonia, Latvia and Lithuania through its Hansabank subsidiary. Swedbank customers are primarily households, SMEs, municipalities, country councils and a number of large corporations. The Group's services are focused on savings and asset management, residential mortgages and financing, payments and transfer services. For more information about Swedbank AB, please visit www.fsb.se.
