27 September 2016
("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
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