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ADP Wilco, a subsidiary of Automatic Data Processing, Inc., has announced that its Germany-based outsourcing service bureau for SWIFT messaging has been upgraded for SWIFTNet message processing. All user firms commenced live operations for the new SWIFTNet messaging in mid-November.
The upgrades were implemented centrally without any break in service and without any requirement for customers to deploy technical resources.
The upgrade to SWIFTNet enables ADP Wilco to support the latest version of messaging for all message types on the SWIFT network. It also enables ADP Wilco to deliver new services to its users, based on additional features that are facilitated through SWIFTNet.
The new services include advanced interactivity with the Deutsche Bundesbank's RTGSplus system, enabling real-time processing of euro payments transactions and extensive liquidity control options. Other new features include support for SWIFTNet FIX message formats, enabling full STP throughput from FIX-based order capture to SWIFT-based settlement with custodians.
The ADP Wilco SWIFT service bureau provides fast-track access to the SWIFT network for the full range of SWIFT messages including securities, treasury, derivatives, payments and cash management, all in an outsourcing environment. The service is backed by ADP Wilco's in-depth expertise that spans both SWIFT processing and securities operations, and includes central provision and management of IT infrastructure.
"Through our SWIFT service, we have demonstrated how outsourcing can deliver the benefits of a fast-track response to market changes such as SWIFTNet, backed by a cost-efficient, low risk operation that enables financial institutions to optimise their client services," said Volker Wombacher, Head of SWIFT Solutions & Services, ADP Wilco (Deutschland) GmbH.