As the first Alliance Lite2 business partner in North America, GTreasury has now augmented their offering by incorporating SWIFTRef data for their clients.
Adding SWIFTRef - a dynamic repository of SWIFT BIC codes - enables GTreasury users to look up BIC codes directly within GTreasury. Orazio Pater, COO of GTreasury stated, "By working with SWIFTRef data, our clients will be able to onboard and map their reporting banks and accounts into GTreasury with greater ease than in the past – this will help us load banking data quicker and give our clients faster insights and ROIs on their core banking functions."
In addition, GTreasury has incorporated this functionality into their Funds Transfer module, which now allows clients the ability to look up or reverse engineer routing codes for unknown or non-repetitive based payments. Pater comments, "The workflow functionality of our Funds Transfer module is second to none, and we now have the ability to confirm banks and routing codes, lookup and screen payments against OFAC and other watch lists, and do so all within the normal user's payment workflow."
CTMfile take: This is another example of how TMS suppliers are incorporating external systems and services which signficantly improves corporate treasury department’s operational efficiency by reducing mis-routed payments and rejects.
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