OREANDA-NEWS. March 22, 2012. Bank Petrocommerce is the first in Russia to complete testing and to commence using a back-up channel of communication with the Bank of Russia — SWIFT-BEUP gateway.

The BEUP-SWIFT gateway is designed for communication between SWIFT (Society for World-Wide Interbank Financial Telecommunications) and real time gross settlement system (System of bank electronic urgent payments (BEUP) of the Bank of Russia).

For the time being, Bank Petrocommerce has completed all the necessary procedures for making outgoing/incoming payments through BEUP-SWIFT gateway if the main communication channel defaults.

"We are the first bank in Russia to connect to the SWIFT-BEUP back-up communication channel", said Natalia Kolobova, First Vice President of Bank Petrocommerce. "The involvement in this project evidences the Bank’s intention to ensure maximum security of the communication channels for our clients. Successful testing result, in its turn, confirms a high level of development and reliability of the Bank’s technologies".

Bank Petrocommerce has been taking part in the joint project with the Bank of Russia for creation of the back-up channel since 2010. The Bank has held various kinds of tests, including uploading of outgoing payments from the Bank’s automated system, receipt by SWIFT and further processing of incoming payments, manual drafting of SWIFT messages about changes in the Bank’s liquidity position and receipt of acknowledgment from the Bank of Russia.