New Jersey-based EasyLink has released a suite of transaction transformation, management and delivery services that allows Swift member firms to connect to non-Swift banks and commercial customers using existing message and payments processing systems.
The package, called EasyLink Financial Transaction Services (FTS), will enable Swift member firms to use the same technology for transactions with both smaller non-Swift banks and with larger counterparts who use the Swift network.
The package applies intelligent routeing software to bridge the gap between Swift standards as applied through existing gateway applications and other communication techniques such as fax, telex and EDI. Non-Swift banks and commercial customers can continue to send and receive transactions using the communications and data formats of their choice.
EasyLink says FTS will eliminate slow and costly manual processes such as the re-keying of data to get information from one system into the other.
Henry Bayard, vice president, strategic initiatives, EasyLink Services, says: "EasyLink Financial Transaction Services enables more flexible and efficient processing of critical information and transactions, and their respective operations, between institutions of all sizes."