Treasury Today Country Profiles in association with Citi

Press release: Innovative new service puts concept of virtual network bank into practice

11th September 2017 – Ettenheim. BELLIN, global leader in providing web-based treasury software and services for multinational corporations, welcomes another prominent industry figure to their team: SWIFT’s Sebastian Niemeyer joins BELLIN on September 1, 2017 and will introduce an innovative new service based on the concept of the Virtual Network Bank. As a Senior Sales Manager at SWIFT, Niemeyer was in charge of the BELLIN-SWIFT cooperation for several years before changing to the position of SWIFT Global Key Client Director for Deutsche Bank.

By embarking on the Virtual Network Bank concept, BELLIN is once again leading the industry and pioneering a new financial service. BELLIN’s mission is to create “global transparency in banking communication” by revolutionizing the bank onboarding process for corporate clients. BELLIN will provide access to a virtual bank network that includes suitable banks in any country and for any requirements. BELLIN sets up the administrative framework and introduces a completely standardized process that exceeds any traditional services provided in connection with technical onboarding or consulting. This creates maximum efficiency and will allow corporate clients to overcome a number of administrative challenges:

  • Use of standardized contracts negotiated by BELLIN, with the company as account holder
  • Standardized fees for complete transparency when it comes to costs
  • Standardized KYC questionnaires
  • One stop solution (facilitated by BELLIN)

Both corporate clients and banks are set to benefit from this offering. While the selection and onboarding of banks will become much more straightforward for corporates, banks will no longer need to deal with each customer individually and will gain access to an entirely new customer base. Sebastian Niemeyer comments on his move to BELLIN, “BELLIN’s Virtual Network Bank initiative is giving me the opportunity to not only work on a project with enormous potential but to be a part of it from the very start. Being able to set up an initiative like this from scratch, to create something, holds an enormous appeal for me.”

About Sebastian Niemeyer

Sebastian Niemeyer trained as a banker and became interested in correspondent banking, standardization in the financial industry as well as electronic banking for corporate clients early on. This enthusiasm prompted him to join SWIFT where he worked with multinational corporates and banks for 12 years. Since 2014, he had been responsible for the new corporate client segment, in particular for advice on how to best introduce a SWIFT connection, implementing compliance requirements and on bank master data maintenance products in EMEA (primarily GAS). Throughout his time at SWIFT, Sebastian Niemeyer was involved in efforts to enhance the SWIFT corporate client portfolio as well as in strategic initiatives aimed at this target group. This included the SWIFT Lite2 for Business Applications initiative, i.e. the full integration of SWIFT connections in vendor systems. This particular role put him in charge of the extremely successful cooperation between SWIFT and BELLIN. Niemeyer’s last position at SWIFT was that of SWIFT Global Key Client Director for Deutsche Bank.

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