Fortis Bank says it has added new reporting features to its Global Custody Communicator, the tool which enables the bank’s non-SWIFT clients to communicate with their in-house systems without manual intervention.
“The primary objective of the development of Global Custody Communicator was to establish a flexible interface to our customers’ portfolio management systems, allowing them to export and import files without any intervention into and from their own systems,” explains Fortis. “As a result, customers do not have to input data separately, thereby decreasing failures due to a lack of accuracy and drastically reducing operational risks. Global Custody Communicator enables any of our clients’ portfolio management systems to communicate with Fortis Bank Information Banking. We have now built interfaces with the following systems: Mabel, Advent and Altair.”
The standard SWIFT format being used for instructions, confirmations and reports will be communicated in either the so-called comma-separated value (CSV) or Text lay-out, which Fortis says underscores the flexibility of Global Custody Communicator. Fortis recently made Global Custody Communicator ISO 15022-compliant, resulting in our capability to communicate trade confirmations and settlement instructions and confirmations; settlement status reports; reconciliation reports; and corporate action reports. For Belgian clients, Global Custody Communicator also provides so-called CODA files, a Belgian standard for daily statements.