Treasury management firm Reval, which provides cloud-based cash management solutions, is now linking its corporates into the SWIFT network.
An announcement on Tuesday (April 19) said Reval is integrating its Cloud Platform into the SWIFT messaging network, allowing cash management processes to align with SWIFT’s service of facilitating corporate connections between bank accounts, offered through the Alliance Lite2 tool.
“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,” said SWIFT Head of Corporates for the Americas and U.K. Ed Adams in a statement.
The executive added that SWIFT is working to train clients and adhere to their requirements to ease the onboarding of businesses into its network. A partnership with Reval, Adams said, means those onboarded users can also benefit from automated treasury management solutions.
“Our collaboration with SWIFT makes day-to-day operations much easier for companies that want a seamless treasury management experience,” said Reval Senior Vice President of Strategic Alliances James Gilbert in another statement. “With the formal alliance between SWIFT and Reval, companies will have a mutually supported source of service for their bank connectivity needs.”
Reval first rolled out its Cloud Platform solution last year, a system to automate treasury management tasks, like payments, banking, trading and compliance, for its mid-market and large corporate client base. The solution integrates into local payment networks to facilitate global transacting, the company said at the time.