GTreasury becomes Swift Alliance Lite2 partner
07 May 2014 | 1644 views | 0
GTreasury is pleased to announce it is the first company in North America to be selected by SWIFT as an Application Service Provider (ASP).
As a SWIFT ASP, GTreasury will be able to offer an integration of SWIFT's cloud-based solution for connectivity and messaging, Alliance Lite2, with GTreasury's application suite.
As a secure cloud-based service, Alliance Lite2 is the simplest way for an organization to connect directly to the SWIFT network and has quickly become the solution of choice for mid-tier corporate treasuries. 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
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. Since GTreasury is not a service bureau, but a dedicated treasury solution, users will be able to eliminate IT needs and access their information hassle free. Orazio Pater, COO of GTreasury, stated "clients will be able to get to the root of their information and not have to worry about the technology providers. They will be able to rely on a single source for data transmission, storage, and translation services."
As the first organization to offer this service in North America, GTreasury is pioneering the coupling of SWIFT connectivity and standards, with treasury functionality. Matteo Monaco, Head of Corporate Sales, North America, SWIFT stated, "SWIFT is deligT is delighted to include GTreasury as part of our ASP program, which makes it even easier for corporate treasuries to efficiently process their payments, gain visibility on their cash positions and have easier access to their multi-bank relationships."
GTreasury has long been able to offer SWIFT based treasury solutions to the North American corporate treasury space, but for years the financial and technical restraints on the corporate space were too significant a barrier for most common treasuries. With this integration GTreasury will be able to offer simplified solutions for the common treasury department.