As a SWIFT ASP, GTreasury will offer an integration of SWIFTs cloud-based solution for connectivity and messaging, Alliance Lite2, with GTreasurys application suite.
As a cloud-based service, Alliance Lite2 can enable an organization to connect directly to the SWIFT network. Alliance Lite2 supports all SWIFT message formats, standards (FIN) and file types (FileAct), as well as automated and manual exchange of messages and files.
Through this relationship, organizations will be able to rely on GTreasury for their SWIFT connectivity, and the accompanying functionality associated with translating and transmitting their SWIFT data including: receiving, processing, and analyzing bank statements for both prior day and current day; receiving and storing bank-based eStatements for reporting and auditing; initiating funds transfers and other payment activities through SWIFT membered financial institutions; global payment verification including bank lookups, OFAC checking and other anti-money laundering techniques and sending and receiving eBAM messages.
With both systems being cloud-based, customers will not need to install or maintain any extensive software or hardware at their site.
GTreasury’s modular system offers users a suite of solutions that for an organization’s cash and liquidity overview, manage exposures and risk, and automates all repetitive treasury processes.
In recent news, Barclays, a global financial services provider, has joined SWIFT’s Know Your Customer (KYC) Registry initiative to help develop a centralised utility to collect and distribute updated standardised KYC information.
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