Automated reconciliation software program firm AutoRek has joined the Swift Accomplice Program.
The partnership will allow firms to have larger integration between their operations and third-party knowledge sources.
Scotland-based AutoRek made its Finovate debut at FinovateEurope 2023.
AutoRek, an automatic monetary controls platform based mostly in Scotland, has joined the Swift Accomplice Program. The transfer will improve the consolidation and reconciliation of monetary knowledge and supply larger integration between firms’ operations and their third-party knowledge sources. Leveraging its predefined catalog of API connections, AutoRek will devour messages straight from the Swift community, making the reconciliation course of extra environment friendly and offering wider knowledge administration. This can remove the necessity for AutoRek clients to each supply and handle recordsdata and statements from the third-parties they’re working with. Futhermore, AutoRek will examine the creation of further options to assist its clients maximize the corporate’s reference to the Swift community.
“AutoRek is on a mission to set the benchmark in belief for finance operations and controls,” AutoRek Head of Strategic Partnerships Alastair MacKenzie mentioned. “As a member-owned group, we consider this collaboration with Swift will enable us to achieve in-depth insights to assist meet the wants of the world’s main monetary providers corporations.”
SWIFT, which stands for Society for Worldwide Interbank Monetary Telecommunication, presents a community that permits monetary establishments to speak and alternate details about monetary transactions in a safe method. Launched in 1973 and owned by the banks and member establishments that use the messaging community, the Belgian-based cooperative connects greater than 11,500 banking and securities organizations, market infrastructures, and company clients in 200+ international locations and territories.
AutoRek made its Finovate debut at FinovateEurope final 12 months. On the convention, the corporate’s Kashif Aslam demonstrated how AutoRek’s know-how helps monetary establishments — together with banks, asset managers, insurers, and funds companies — handle high-volume reconciliation challenges. “Among the advantages embrace a major discount in value via automation of in any other case handbook and complicated enterprise processes, a rise in management over your knowledge via elevated transparency so you may see and observe every thing that’s occurred to your knowledge all through its lifespan throughout the system, and an elevated capacity to reveal compliance with monetary regulation,” Aslam defined.
Within the months since then, AutoRek has solid partnerships with J.P. Morgan Funds, world funds community Calastone, and French IT providers and consulting agency Capgemini. The corporate’s clients embrace fellow Finovate alums eToro and Marqeta.
Based in 1994, AutoRek is headquartered in Glasgow, Scotland. Gordon McHarg is CEO.
Picture by Richard Harris
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