BMO selected Pelican as a part of its North American payment modernisation initiative, which includes payment industry changes to high value payments. As a result of the implementation of Pelican’s solution, customers of the bank will benefit from higher STP rates allowing payments to be processed more quickly and reach beneficiary accounts faster.
Pelican’s solution allows financial institutions to target a 95%+ rate in their STP capabilities, with the ability to support both current and future SWIFT message formats.
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