Automated reconciliation software program firm AutoRek has joined the Swift Accomplice Program.
The partnership will allow corporations to have higher integration between their operations and third-party information 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 information and supply higher integration between corporations’ operations and their third-party information sources. Leveraging its predefined catalog of API connections, AutoRek will eat messages immediately from the Swift community, making the reconciliation course of extra environment friendly and offering wider information administration. It will remove the necessity for AutoRek prospects to each supply and handle recordsdata and statements from the third-parties they’re working with. Futhermore, AutoRek will examine the creation of extra options to assist its prospects 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 stated. “As a member-owned group, we imagine this collaboration with Swift will permit us to realize 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 change 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 prospects in 200+ nations and territories.
AutoRek made its Finovate debut at FinovateEurope final yr. 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. “A few of the advantages embrace a major discount in price by way of automation of in any other case handbook and complicated enterprise processes, a rise in management over your information by way of elevated transparency so you may see and observe the whole lot that’s occurred to your information all through its lifespan inside the system, and an elevated potential to reveal compliance with monetary regulation,” Aslam defined.
Within the months since then, AutoRek has cast partnerships with J.P. Morgan Funds, world funds community Calastone, and French IT providers and consulting agency Capgemini. The corporate’s prospects 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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