21 August 2017
Find out more

ADP Wilco introduces ISO 20022 SwiftNet funds messaging service

27 June 2006  |  1979 views  |  0 Source: ADP Brokerage Services Group

Automatic Data Processing, Inc. (NYSE: ADP) subsidiary ADP Wilco has announced the availability of ISO 20022 SWIFT messaging for the funds industry through its SWIFT Service Bureau.

ADP Wilco's first user for the new standard, a Luxembourg-based fund manager, has commenced live operations through the bureau service.

SWIFTNet Funds messaging, based on the ISO 20022 standard, is a significant opportunity for market participants seeking to improve automation and communications across their fund operations. The message standard offers the benefits of reduced cost and lower operational risk throughout the investment funds processing cycle.

The new ISO 20022 messages are XML-based, which enables further benefits through the ease with which they can be updated, and their open design that supports a more straightforward approach to connectivity.

"The provision of ISO 20022 messaging with our SWIFT bureau is part of ADP's ongoing commitment to invest in its processing services and enable user firms to take advantage of new market initiatives in a timely and cost-effective manner," said Volker Wombacher, head of ADP Wilco's SWIFT bureau services.

ADP Wilco's SWIFT Service Bureau now has a customer base of 15 firms based in three countries.

Comments: (0)

Comment on this story (membership required)

Related company news


Related company information

Broadridge Financial Solutions

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.abe-eba.eudownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11153 views comments | 25 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9389 views comments | 22 tweets | 28 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9363 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9120 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8998 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job