Allevo announced that the Workers' Remittances feature of Allevo qPayIntegrator release 2.2 has received from SWIFT the conformance statement recognizing the application's readiness for SWIFT for Workers' Remittances 2010 & 2011.
The announcement demonstrates again the commitment Allevo has to providing solutions most closely aligned to the banking-financial industry trends and SWIFT market standards. qPayIntegrator Workers' Remittances feature has been designed by Allevo to assist banks in addressing person-to-person payments by reducing their time-to-market and securing their retail clients' funds transfers.
In order to successfully pass the technical and functional validations performed by SWIFT, Allevo, in conjunction with Microsoft, ported qPayIntegrator onto Microsoft BizTalk Accelerator for SWIFT, taking advantage of the technological lead and versatility of BizTalk to cover the entire business flow from funds collection to funds distribution.
"For many financial institutions with a broad global presence, particularly those in emerging economies, the workers' remittances implementation will provide the ability to service new client demographics for low cost global payments," says Karen Cone, general manager, Worldwide Financial Services, Microsoft Corp. "We are pleased to work with regional technology partners, such as Allevo, to help our joint customers achieve these goals on BizTalk Accelerator for SWIFT."
"We foresee huge potential for the banking business related to intermediating the collection, transfer and distribution, in-country or cross border, of the remittances," says Sorin Guiman, general manager, Allevo. "By working with Microsoft to achieve the conformance statement recognizing the application's readiness for SWIFT for Workers' Remittances 2010 and 2011, our customers are now able to significantly improve person-to-person payment services."
Join Allevo on stand C111 at Sibos 2011 for a demo and to discuss how Allevo can be of assistance in improving your business.