IATA TREASURYlink Launched
IATA, the International Air Transport Association, has launched a new service, TREASURYLink to improve settlement systems in the airline sector. IATA said it would ‘provide scope for internal efficiencies through better access and control of settlement information between the DPCs and clearing banks’ as well as assisting in the reconciliation of hinge account activity. IATA TREASURYlink was successfully launched in the first pilot site in Singapore on 1 April, with the first payment made through the system to the airlines on 8 April 2002. The launch of IATA TREASURYlink in Australia is now planned by the end of June. IATA is working closely with alterna Technologies and Citibank to ensure the smooth implementation of this valuable tool that will provide robust functionality in the area of Treasury.