Broadridge Adds SAP System Interface to its SWIFT Service Bureau for Corporates
Broadridge Financial Solutions has announced a new interface service designed to enable corporate treasury operations to benefit from direct connectivity between their SAP systems and the SWIFT network for the purposes of treasury management and payments. The service is provided though Broadridge’s SWIFT Transaction Manager (STM), a web-based workflow and management control feature within Broadridge’s SWIFT Service Bureau. For treasury operations in the foreign exchange and money market areas, the service changes SAP files into the corresponding SWIFTNetFIN format for two-way connectivity with counterparties, including the automatic reconciliation of trade confirmations sent and received, online reporting of discrepancies, and management information reporting. The company has also developed a control and release function for SAP payment transfers for domestic and single euro payments area (SEPA) transactions via the SWIFTNet FileAct service. As part of this service, the enhanced SWIFT Header required for pricing according to the bulk payment tariff will also be generated automatically.