IT2 Treasury Solutions has again been certified with the SWIFTReady for Corporates Treasury label. The label, annually revalidated, certifies IT2’s compatibility and compliance with SWIFT’s messaging standards and its platform for providing corporates with a single channel of access to financial services.
“Financial connectivity has never been more important to corporates, as they seek to achieve STP [straight-through processing], efficiency and control,” explained Paul Higdon, chief technology officer (CTO), IT2 Treasury Solutions. “Robust, automated messaging workflows reduce cost and risk, optimise liquidity management, and strengthen security. IT2 is designed to integrate seamlessly, providing SWIFT-enabled real time connectivity out of the box.”
Higdon noted two new developments in IT2 technologies that use the SWIFT XML messaging standards and infrastructure. “IT2 can be deployed as a single, functionally complete TMS [treasury management system], or as a solution that addresses specific, functional requirements for SWIFT connectivity, such as bulk payments and eBAM [electronic bank account management] messaging.”
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.
A global survey of 200 corporate treasurers by Temenos and Ovum shows that many expect at least some banking services to relocate away from London.