SWIFT – MA-CUG Services
Get a direct access to your account through SWIFT network, to benefit from the widespread access with standard financial messages.
The channel enables clients to access their bank accounts for inquiry and transaction services through the standard SWIFT network protocol. Companies connected to the Bank through SWIFT network are able to receive financial services (e.g. payments, treasury and reporting) from all their financial institutions through a single, highly secure, standardized communication platform.
This enables them to manage multiple banking relationships, conduct cash management operations, and establish a central management for banking services.
Key Characteristics and Benefits:
- Seamless integration between Corporate financial system and Al Rajhi payment system through a highly secured, reliable and scalable platform/network SWIFT standard connection.
- Supports single and bulk (file-based) transaction execution.
- Leverage on consistent, accurate and timely information to achieve higher level of cash visibility across accounts and banks.
- Automated reconciliation reports to efficiently manage your settlement process.
- Minimize risk by adopting highly secure, reliable communication channel to execute your financial transactions.
- Gain better control over treasury, cash management, bulk transfers, and settlement operations via standardization.
- Between the company’s internal accounts within Al Rajhi Bank.
- Transfer to beneficiaries within Al Rajhi Bank accounts, local banks & international banks.
- Statements of Company Accounts.
- Execute Payroll files.
- Use of message types for payment transactions, foreign exchange, money market, securities, precious metals, and trade finance.
- No dependence on specific e-banking solutions.
- Full financial overview thanks to centralization of account and safekeeping account information.