MUMBAI, INDIA: Globsyn Infotech Limited, a technology company with domain expertise in Payments Solutions and services has tied up with The Bharat co-operative Bank (Mumbai) Ltd,  a Co-Operative Bank to connect to the SWIFT Network (Society for Worldwide Interbank Financial Telecommunication). The Globsyn TurboSwift product will help the customers aiming for FOREX Transactions to connect to SWIFT network using the TurboSWIFT suite, says a press note.

V. S. Shanbhag, AGM & Head Forex, The Bharat co-operative Bank (Mumbai) Ltd said, “We have seen a steep increase in the volume of Forex business and wanted an owned private SWIFT connection which evidently became a part of the bank's growth strategy. It was then we opted for Globsyn Infotech Limited as our SWIFT Interface provider after a thorough due diligence. We did a detailed functional and technical study of the products available and found TurboSWIFT be a cost effective SWIFT Interface meeting our Bank's present and futuristic needs. Additionally, as we believe in relationships, our main focus is always to associate with vendors with remarkable support record.” 

Bikram Dasgupta, Chairman & CEO, Globsyn Infotech Limited said, “We are proud to be associated with The Bharat Co-Operative Bank for this strategically important project, which clearly indicates the requirement in the Indian Banking Sector for secure and effective operations in SWIFT transactions.”

TurboSwift is a certified messaging interface (CBT) used at various banks around the world for secure messaging of international funds transfer (Forex), conforming to the SWIFT standard, the company says.  "SWIFT is the industry-owned co-operative, which provides secure, standardised messaging services and interface software to over 8,100 financial institutions in 208 countries and territories. SWIFT members include banks, broker-dealers and investment managers."