New York, NEW YORK – October 25, 2010 - EastNets, a leading global provider of compliance and payments solutions, announced today that Pinnacle Solutions had selected the Company’s SWIFT Service Bureau to host their Synergy banking and trade services solution. EastNets SWIFT Service Bureau will provide the strategic platform to offer cost-effective “Software as a Service” (SaaS) banking and SWIFT connectivity to financial institutions worldwide.
Pinnacle’s web-based suite of integrated banking applications currently operates in more than twenty countries worldwide, and is now available, powered by EastNets SWIFT Service Bureau, as an outsourced SaaS alternative, providing customers with a more cost-effective, hassle-free and flexible solution. Synergy, powered by EastNets, offers businesses the following key capabilities:
- Full back-office and customer front-end support for Letters of Credit processing;
- Complete back-office handling of loans and deposits;
- Inbound and outbound SWIFT payments and messages; and
- DDA/Nostro accounts processing.
“We are delighted to have selected EastNets’ market leading SWIFT Service Bureau to host our core banking and trade service offering,” said Ralph Carbone, President of Pinnacle Solutions Incorporated. “The company’s proven track record, broad geographic reach, and strong SWIFT expertise made EastNets the right choice.”
“Outsourcing solutions and business processes provides an opportunity for financial institutions to increase their profitability by reducing costs, improving operational workflow, and controlling risk,” said Hazem Mulhim, CEO of EastNets. “With Synergy, powered by EastNets, financial institutions and corporate treasuries will have fast, effective and affordable access to SWIFT connectivity and a premiere banking and trade services environment.”
EastNets provides both a fully-managed hosting facility as well as a shared environment – both complete with disaster recovery and FileAct support. en.Service Bureau is SWIFT recognized and offers around the clock availability of its services and contingency environment. Institutions can immediately benefit from Synergy with fast time-to-live, low-cost monthly fees for the software solution and the IT infrastructure. With no capital investment, Synergy is the affordable “big-bank” solution.
About Pinnacle Solutions
Pinnacle Solutions Incorporated (PSI) is serving international financial institutions since 1992. PSI delivers consultancy and software solutions in the areas of payments, trade services, cash management (DDA and Nostro), foreign exchange, money markets, lending and credit facilities, customer risk management and systems integration. Synergy is PSI’s suite of banking applications providing back-office support for payments, SWIFT messaging, DDA/Nostro accounts, loans and deposits, trade services, bank customer LC front-end and multi-bank corporate LC. Synergy is operational in over twenty countries. For more information please visit http://www.psi-nj.com/.
EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporates around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services, training and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, please visit http://www.eastnets.com/.