SCOR signs electronic payment instructions with Sterci’s 3SKey solution

Etienne Savatier

Etienne Savatier, International Director at Sterci.

Geneva – Sterci, international leader in financial messaging, has announced today that SCOR Paris Hub will use beginning of April Sterci’s 3SKey solution to sign its electronic payment instructions (SEPA, netting, international and forwarding instructions). The XML messages will be compliant with ISO 20022 and SEPA requirements.

3SKey is a SWIFT technology which allows corporates and financial institutions to sign and secure file transfers. To replace its ETEBAC protocol, SCOR has selected a solution incorporating the latest electronic signature technology to send XML files compliant with ISO 20022 and SEPA. Moreover the Sterci messaging platform is used by SCOR to generate all its SWIFT traffic from a central Hub. In addition, the use of a cloud hosting model within the Sterci Service Bureau allows SCOR to rely on an existing service maintained by experts and avoid them to manage the technical complexity of financial networks. The implementation of the 3SKey is an innovative project through which Sterci has been in a position to demonstrate its project integration abilities and its SWIFT expertise.

SCOR project director, Laurent Guéraud, said « The SWIFT 3SKey electronic signature implementation is the 3rd step of the Sterci project which has allowed us to put in place SWIFTNet connectivity, a global reconciliation solution covering bank account reconciliation, foreign exchange trade confirmations and investment portfolios of our investment management company. We are also using the Sterci GTFrame product to translate internal file formats into SWIFT and SEPA file formats for the entire SCOR group».
For Etienne Savatier, International Director at Sterci, adds « We are proud to have successfully supported SCOR during all this project. The confirmation of the SEPA migration End Date for February 2014 is a driver for new projects within the corporate market and Sterci is one of the few suppliers providing end-to-end solution like GTSuite including connectivity, formatting, reconciliation and 3SKey electronic signature. »

Sterci S.A. is the international leader in financial messaging. With more than 25 years experience in the SWIFT domain, Sterci continues to innovate, enabling its clients to improve their operational efficiency and their agility while reducing costs and risks. Large banking groups, financial institutions, central banks and corporate clients use the GTSuite product suite every day for their critical financial messaging, reconciliation and data management applications. With a global presence, Sterci has more than 300 clients across four continents including prestigious organisations such as Bank for International Settlements, Toronto Dominion, Euroclear, Lloyds Banking Group, HSBC, Clearstream, Dexia, Crédit Agricole, Saudi Arabian Monetary Agency, Swiss National Bank, BNP Paribas, Swissquote, Union Bancaire Privée, Julius Baer, Edmond de Rothschild Private Bank among others. Certified as ISO 9000 :2008 compliant by the Swiss Association for quality systems and SWS management, Sterci is an official SWIFT partner and its products are certified.
Headquarted in Geneva, Sterci has a direct presence in London, Brussels, Toronto, New York, Paris, Riyad, Signapore and Zurich.

About SCOR
Fith worldwide reinsurer SCOR has a balanced business model, with three powerful engines: SCOR Global Life (Life reinsurance), SCOR P & C (Non-Life) and SCOR Global Investments (asset management). Despite an uncertain and difficult environment, SCOR is keeping on track of its strategic plan “Strong Momentum V1.1” and its four pillars: goodwill strong risk controlled, highly diversified and effective protection of capital. With pro format revenues of EUR 8.6 billion in 2011 and net assets at 31 December of EUR 4.4 billion, SCOR continues to strengthen its position among the world’s leading reinsurers and the added value to its customers. With 41 teams on geographic locations spread over 5 continents, the Group offers its customers solutions with high added value, innovative, customized, and is committed to helping its customers over the long term.
SCOR is a multinational group whose structure 6 Hubs (Americas, Cologne, London, Paris, Singapore and Zurich), in place since 2008, reflects the multicultural and decentralized nature is ideal for reinsurance business.

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