Ascent connects with Afex FX layer

Source: Afex

AFEX, one of the world's largest non-bank providers of global payment and risk management solutions, has partnered with Ascent Software, to enhance its award-winning straight-through processing pre-payment and post-payment software, Trident Connect.

Used by financial services firms globally, Trident Connect is designed to electronically automate the manual process of preparing, validating and approving local and international payments, eliminating operational risk by routing payments through the organisation’s signatory workflow and compliance processes. It also integrates with multiple banks directly or via SWIFT to execute payment instructions and download transactional data, performing a three-way reconciliation between the banks, itself and the accounting system.

The partnership between AFEX and Ascent simplifies this process further by incorporating real-time foreign exchange to the straight-through payment process through AFEX’s API, making it even easier for organisations that need to carry out a significant number of payments, locally and internationally each day.

“Trident Connect helps firms in the finance and fiduciary sectors to reduce risk, ensure compliance and improve efficiency through the automation of payment processes,” said Joseph Sultana, CEO of Ascent Software. “We are delighted to be able to incorporate AFEX’s foreign exchange capabilities into our software which enhances the platform’s abilities and ultimately helps simplify what can be a time-consuming and error prone operation.”

“Trident Connect is a great system for firms with extensive and complex payment requirements,” said Wayne Mitchell, General Manager EMEA for AFEX. “We are excited to be able to integrate our FX and international payments capabilities into the platform, making it an even more comprehensive and compelling solution for its client base.”

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