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Pioneering SWIFT Corporate Access in Latin America

The Experiences of Belcorp

Belcorp is an independent beauty company based in Peru with forty years’ experience in producing high quality cosmetics. The company provides skin care, body care, makeup, fragrances, personal care, jewellery and clothing to discerning women, including a unique portfolio of internationally renowned brands, L’Bel, Esika and Cyzone, which are distributed across 15 countries in North, South and Central America. The firm designs its products at the Centre de Biodermatologie des Laboratoires Sérobiologiques in France and production takes place in Colombia. In 2007, Belcorp’s sales reached $1bn.

In 2007, Belcorp started to connect to its banks using SWIFTNet, one of the smaller firms to do so. In this interview, Helen Sanders talks to José Antonio Solís, Senior Treasurer of Belcorp about their reasons for doing so, and some of the experiences they have had.

Tell us about how you organise your treasury

When I joined the company seven years ago, I was tasked with centralising our treasury activities which had previously been spread across the countries in which we did business. We set up a Group Treasury function here at our headquarters in Peru which would provide treasury services across the Belcorp group.

We wanted a system through which we could connect to everybank. It needed to be highly secure and provide a consistent and automated approach to the transfer of data.