Financial data integration specialist Volante Technologies has joined the SwiftRef partner programme, allowing its users to connect to the payments reference data utility and access datasets and query tools required to make timely and accurate payments.
The companies have worked together for some years, with Volante technology offering transformation between messaging formats for over 70 domestic and international standards including Swift messaging standards. The decision to join SwiftRef gives Volante users a single source of payments reference data and is designed to help them reduce costs, improve straight through processing and get closer to being compliant with the requirements of the Single Euro Payments Area that come into force on February 1, 2014.
Swift initiated the SwiftRef reference data utility early last year and has since built out its content and frequency, most recently upgrading the platform from monthly to daily updates of reference data directories – SwiftRef developments are here – and planning managed services.
The Volante service is available immediately and is expected to be taken up by a diverse set of organisations including buy-side and sell-side capital market institutions, banks, corporate treasuries and exchanges.
Allan Spalding, EMEA partners director at Volante, explains: “With ever increasing regulation facing the financial services industry, firms are under added pressure to produce payments more efficiently and generate regulatory reports required under SEPA, MiFID II and other industry regulations. Through our partnership with Swift, Volante’s clients will be able to streamline this process and reduce the risks and complexity associated with managing payments reference data.”