Fundamental announces seamless integration with SWIFT network
With increasing numbers of Banks, Custodians, and Brokers in the Financial Industry, it has become increasingly difficult for Investment Managers and third-party administrators to develop and maintain institution specific communication channels. FPM now offers the ability to seamlessly send and receive ISO standard SWIFT MT messages via SWIFT Alliance Lite2, a cloud solution offers bank-agnostic solutions enabling connectivity to thousands of financial institutions around the world. Messages supported by FPM include Broker confirmations for near real-time trade matching to allow sending T+0 settlement instructions. Also Settlement Instructions to Custodians, Banks statements for cash reconciliations and Custodian holdings for Script reconciliations.