Reval, a software and risk management services provider, has had its solutions suite integrated by SWIFT in a bid to help automate its automated cash and liquidity management across its global messaging network, according to a recent Reval statement.
More specifically, SWIFT will utilize Reval’s corporate cloud utility, part of its cloud platform, to help foster cohesiveness and connectivity with banking accounts worldwide, as part of the group’s messaging network. By extension, the agreement will also yield the same interlocking connectivity benefits on Reval’s end, albeit localized to its own respective clientele.
SWIFT’s decision to assimilate Reval’s cloud management capabilities follows a global initiative to revamp treasury risk management systems, thereby facilitating a more seamless banking infrastructure for firms.
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These sentiments were reiterated by Ed Adams, Head of Corporates – Americas & UK at SWIFT. “The combined offering of Reval and SWIFT’s Alliance Lite2 not only follows the global movement toward cloud-based solutions for treasury management systems, it also offers an easy, streamlined approach to global banking,” he noted.
“By capturing client requirements and providing training for mutual clients, we are making it easier for companies to join the SWIFT community, while leveraging the best-in-class treasury technology of Reval,” added Adams.
According to James Gilbert, Senior Vice President, Strategic Alliances at Reval, in a recent statement on the deal: “Our collaboration with SWIFT makes day-to-day operations much easier for companies that want a seamless treasury management experience. With the formal alliance between SWIFT and Reval, companies will have a mutually supported source of service for their bank connectivity needs.” Reval’s agreement with SWIFT rounds out its growing network of bank connectivity partners, bringing Reval clients more options for bank connections globally.
Reval is a New York-based software services provider that offers a plethora of comprehensive and integrated treasury and risk management solutions for institutional clients. The group primarily utilizes cloud-based software, helping provide tools to manage cash and financial risks.
SWIFT made headlines earlier this week after it launched its Change Request Forum (CRF), designed in part to provide a nexus for communal feedback and communication. The CRF utility is officially slated for a July 2016 release.