EastNets, a leading global provider of compliance and payments solutions, has been named the 2013 Kinetic Process Innovation Award winner for its en.Service Bureau solution deployed at Ansbacher Bahamas.

EastNets helped the bank reduce complexity, cost and risk related to payments and other international financial transactions through its Swift connectivity, a statement from the company said. Now in its 17th year, the awards programme recognises EastNets excellence in the financial technology applications and this year’s award is sponsored by High Tech Views, an online publication that reports on technology innovation.

Hazem Mulhim, CEO, EastNets, said: “This latest recognition reaffirms our steadfast commitment to develop and provide our customers with cutting-edge technologies that not only give them the confidence and security of being protected against risk but also help achieve more productivity and increased efficiencies in their operations.”

“The deployment of our en.Service Bureau solution at Ansbacher Bahamas has perfectly demonstrated the benefits of a fully hosted Swift connectivity solution that has helped the bank free up internal resources, reduce cost and offload the risk and liability associated with managing their connection to Swift.”

“Our partnership with EastNets therefore serves as a reaffirmation of our commitment to provide premium-quality financial services to our customers. We are very satisfied with the level of support that we have received from EastNets, from installation through to continuing professional support,” said Frank Thurston, head of IT at Ansbacher Bahamas.

The en.Service Bureau’s seamless connectivity to the Swift network helps Ansbacher banking operations maintain a competitive edge.  In addition, the en.Service Bureau significantly reduced the drain on Ansbacher internal resources and managed Swift’s frequent mandatory and costly upgrades. EastNets’ service model substantially saved the bank time in deployment and optimised operations. – TradeArabia News Service