SS&C Technologies (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced a new release of its GoWire application that gives clients real-time access to critical cash flow movements.
This latest version of GoWire allows SS&C GlobeOp fund administration clients to control and authorize cash wire payments via SS&C GlobeOp's secure web portal. GoWire supports a flexible authorized signatory policy, with multiple levels of authorizers, payment amount thresholds and wire purpose restrictions. GoWire provides SWIFT connectivity to top-tier prime brokers and custodians. Payment references from the financial institutions are made available via the portal for easy access and reference.
A New York-based financial advisor and asset manager and SS&C GlobeOp client said, "The GoWire automation process has made the wire approval process more streamlined. All the information we need to review and approve a payment can be found in one location. The system's dual approval capabilities allow us to maintain our comprehensive approval process without slowing us down. The system simplified and sped up the payment process."
GoWire adopts industry best practices regarding controls over the cash processes and enables a full view into all historic wires. Wire account details, such as prime broker/custodian accounts and payee accounts (investors, counterparties, fees, etc.), and a full audit history of events are accessible on the secure web portal and can be exported in Microsoft Excel or PDF formats.
"We are pleased to provide the most powerful wire automation tools for the alternative investment management industry," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "SS&C GlobeOp's experience with wire payments allows us to deliver an easy-to-use, non-invasive solution which can be used in any environment."