TietoEnator will now use Cable & Wireless’ Real Time Nostro (RTN) direct service. The agreement will enable users of TietoEnator’s new ProLiquidity Bank solution to calculate liquidity positions in real time utilizing account data from Cable & Wireless RTN.
TietoEnator is implementing the new solution, ProLiquidity to facilitate worldwide correspondent and RTGS or other account relationship management. The service combines account balance management, automated funding and account/transaction matching features across all currencies.
By taking SWIFT standard cash reporting data from Cable & Wireless RTN combined with feeds from a number of other sources, ProLiquidity Bank will provide users with a consolidated view of their calculated and actual liquidity position at any given moment. The combined service provides clients with the benefits of real time access to cash transactions and associated balances, enabling control of cash projections and liquidity management, as well as eliminating delays inherent in current nostro reconciliation processes. Additionally, the funds transfer capabilities, fully integrated in the TietoEnator Payments Portfolio, automatically suggest actions that ensure funds shortages can be rectified and surplus funds can be utilized in the most efficient manner.
“As liquidity demands and controls increase the need for improved management information and support tools grows,” Patricia Pittomvils, sales director, TietoEnator said. “Multiple cut-off times and associated funding cycles during the day are becoming common making it increasingly difficult for widely used semi-manual solutions to provide the necessary information a Bank needs to make informed and timely decisions. Banks need to ensure they have sufficient liquidity available when and where they want it.”