Multigate becomes Swift Business Application provider
A licensed financial services platform, Multigate, has announced its qualification as a SWIFTLite2 for Business Application Provider. This SWIFT certification validates Multigate’s business application and provides connectivity for its customers to thousands of financial institutions globally by leveraging the SWIFT network.
As a certified SWIFT Lite 2 Business Application Provider, Multigate seeks to address the treasury/cash management needs of African corporates, both regionally and globally and is also focused on enabling seamless processes for consolidating accounts for local or international payouts from any bank.
The SWIFT license will also extend Multigate’s capacity to offer standardised, safe, and secure services to its clients and partners with an overall objective of increasing revenue by efficiently maximising cash flows.
Co-Founder and CEO of Multigate, Eghosa Nehikhare, said: “Our goal as a company is to advance the African economy by enabling seamless and instant transactions for our customers and by simplifying the complexities of managing multiple banking portals onto a single platform.
“By leveraging the SWIFT network as a certified connectivity provider, we provide a secure treasury and liquidity management experience through our innovative digital platform governed by the highest regulatory standards.”
This also solidifies our adherence to global information security and market best practices and our compliance with global ISO messaging for our clients.
We are optimistic about the value we can offer to large corporations through SWIFT to expand to more international markets in the long term.”
According to Head of Corporates, Middle East, Turkey, and Africa at SWIFT, Mickael Thomas, “Having Multigate certified as the first L2BA provider in Africa is key for the adoption of SWIFT connectivity by the corporates within Africa. It also allows the Corporates to benefit from the Added Value of SWIFT fully.