Booking.com Advances Corporate Payments with Broadridge's Service for Swift SCORE+, Enabling Real-Time Tracking and Efficiency
Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, today announced the successful live implementation of Swift SCORE+ services for Booking.com, achieving a milestone in advancing corporate payment connectivity, transparency, and efficiency. The Broadridge services operate through its established infrastructure that includes frictionless Swift API connectivity and end-to-end transaction lifecycle management.
SCORE+ is an evolution of Swift's Standardised Corporate Environment (SCORE), providing corporate institutions with a single Swift network connection for all banking partners. By leveraging richer data coming from the ISO 20022 standards and real-time tracking, SCORE+ provides multinational corporates like Booking.com with enhanced payment visibility, regulatory compliance, and streamlined financial operations.
'SCORE+ marks the most significant evolution for corporates since Swift first opened the doors to the corporate world in the early 2000s for payments and reporting between corporates and their banks. It allows corporates like Booking.com to track their significant transaction volume in real time and enhance payment efficiency across its global banking network, all while ensuring compliance with the latest regulatory standards,' said Kai Marzenell, Director, Swift Product Management at Broadridge. 'We're very proud to be enabling the innovation that is helping corporates modernize their payment infrastructure and drive efficiency and simplification in their operations.'
Corporates managing multiple banking relationships are facing fragmented payment processes such as logging into various bank portals, dealing with inconsistent formats, and navigating limited transaction visibility. With Broadridge's solution for SCORE+, Booking.com now benefits from: Single multi-bank connectivity: One Swift-based connection linking Booking.com to all banking partners for their automated payment flows and eliminating the need for multiple online portals.
Real-time payment tracking : End-to-end visibility on both outbound and inbound transactions, reducing delays and operational risk.
ISO 20022 compliance: Standardized richer payment data, ensuring regulatory alignment and enabling faster, more transparent transactions.
Automated exception handling: Instant alerts on payment failures and the ability to r esolve transaction issues in near time.
Real-time visibility towards end-beneficiary credit confirmations and returns timelines.
Instant cash reporting (imminent): Real-time financial insights that enhance cash flow and liquidity management, improve decision making, and boost operational efficiency.
'Booking's relationship with Broadridge dates back to almost a decade, starting with leveraging the standardized and secure Swift Gateway, via Broadridge, connecting all the banks across the globe,' said Athresh Sudhindra, Treasury Manager – Banking Technology, Booking.com. 'This is further enhanced with Broadridge's SCORE+ solution, allowing Booking to have near real-time tracking and settlement confirmation of cross-border payments. It has been a great overall experience partnering with Broadridge to improve operational efficiencies and ensuring greater visibility and tracking of cross-border payments.'
Booking.com was a pilot participant in Swift's Corporate Working Group, collaborating with Broadridge and Swift to refine and implement SCORE+ and payment tracking. The company played a key role in testing how the solution enhances cross-border payment standardization and multi-bank transaction tracking.
SCORE+ aligns with Swift's Cross-Border Payments and Reporting framework, ensuring corporates move beyond traditional banking to a modern, API-driven payment ecosystem. Broadridge is continuing to work with global enterprises to facilitate a smooth transition to ISO 20022, helping corporates future-proof their payment infrastructure.
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