According to the agreement, all Bank of England account holders (including reserve account holders) will be able to access the SWIFT-based Enquiry Link service. The service is set to enable its users to monitor their financial activity, receive information about their account in the banks real time gross settlement (RTGS) processor, and, in certain circumstances, to transfer funds between accounts.
The SWIFT-based Enquiry Link service is supported by the Global Super Bureau, a platform offered by Simplex in partnership with Sterci, a Swiss provider of reconciliation and management services for financial data. The platform is set to ensure connectivity to the BoE Enquiry Link service and to enable institutions holding accounts in RTGS to participate as a settlement bank in any of the interbank funds transfer schemes for which the bank acts as settlement agent.
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