Luxembourg’s reputation as a centre of excellence for financial services […]
Luxembourg’s reputation as a centre of excellence for financial services and technology was given a further boost last Friday, when InterFIDUCIAIRE, the Luxembourg fiduciary, joined forces with B2 Partners, the Luxembourg based provider of financial messaging software and services, to launch the B2 Hub, an automated messaging service enabling financial institutions such as banks, clearing houses and fund companies to better process transactions, including trades and payments, as well as reports and financial data, to counterparties such as clients and regulators.
The service will utilise state of the art software, developed and launched last year by B2 Partners under the auspices of CTO Marc Binck, whose first-class track record includes the design of mission critical software platforms for automated Custody and Funds processing at international clearing houses and software vendors.
The B2 Hub will leverage on this platform expertise to provide cost effective, secure and highly flexible outsourced messaging services that are ideal for current market conditions, enabling levels of automation and access to the global financial community that would be hard for any single company to build internally and justify financially. The B2 Hub provides world-wide reach, across networks such as SWIFT, but will initially focus on helping the financial communities of Europe, the Middle-East and Africa. Commenting on the launch, Phil Boland, CEO of the B2 Hub said “I am delighted to have been invited to head up the B2 Hub team and to be part of this exciting new initiative. Initial market reaction has convinced us that the B2 Hub service will help our clients achieve the levels of automation and access to community that they need but could not previously costjustify under the financial constraints of the current market”.
B2 board member Jean-Marie Schockmel, representing partner InterFIDUCIAIRE, added: “The B2 Hub is another example of InterFIDUCIAIRE’s commitment to service excellence through the appropriate use of technology. We believe our four decades of experience will combine with that of B2 Partners to provide a first-class service to the Luxembourg financial community and beyond”.
Lab, the Luxembourg based vendor of outsourced IT and data vault services, will provide the blue-chip data centre facilities essential for running a high-value transaction network such as the B2 Hub, with the primary data centre in Contern and back-up data centre in Munsbach, thus ensuring users the very highest standards of service continuity. Bernard Moreau, Managing Director of Lab DataVault s.a., noted on Friday: “We are very pleased Lab was chosen to host the B2 Hub, a decision we believe was based not only on our high standards of service and facilities, but also on our flexible and cost-effective approach to engaging with the client”.