Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, has today announced that its flagship treasury and cash management solution, Wallstreet Suite, has achieved the following two SWIFTReady certifications for 2007:
- SWIFTReady for Corporates - Treasury
- SWIFTReady for Corporates - Cash Management
Wallstreet worked closely with SWIFT, the global messaging network, to help form the requirements for the new SWIFTReady for Corporates label. Earning these labels verifies that the system can serve corporates requirements for SWIFT connectivity in treasury and cash management. Cross-asset Wallstreet Suite achieved this accolade after undergoing and passing two phases of stringent testing. SWIFT connectivity will help corporates streamline bank connectivity through one interface to all banking partners. Banks also benefit from having fewer interfaces to corporates. They can also use the interface they already have to SWIFT for their corporate customers.
The Treasury integration SWIFTReady label is for business applications that are capable of processing and exchanging treasury management related flows. The Cash Management label is for solutions capable of processing and exchanging cash management flows.
"We are delighted to see Wallstreet obtaining both our Treasury and Cash Management labels," said Luc Meurant, head of Corporate Access Programme at SWIFT. "Wallstreet Suite and SWIFT are a natural fit. Together they deliver increased flexibility and capacity, reduced cost and risk, as well as higher levels of straight-through-processing to our common clients."
Having both labels is an extra benefit for the corporate clients of Wallstreet Suite as they can now concentrate all bank communication traffic through one system. Wallstreet Suite SWIFTNet connectivity automates processes, eliminating the need for manual intervention. It enables corporates to reduce the cost and effort of establishing counterparty connections - increasing capacity to connect to new banking partners. It also allows them to add or change partners without having to change business processes or technology. Furthermore, it is highly secure as unauthorised parties are unable to interfere w with the sending and receiving of messages.
"By integrating SWIFTNet into their processes through Wallstreet Suite, our clients can connect to multiple financial service providers and deliver payments worldwide - vastly improving their internal efficiencies," said Joergen Jensen, director of product management at Wallstreet. "All corporates should now be demanding this connectivity of their cash and treasury management systems and the business advantages it brings."