Hunting PLC Extends IT2 Implementation for SWIFT Connectivity
Hunting PLC has extended its IT2 Treasury Solutions contractual agreement to include two-way SWIFT connectivity, as part of its strategic project to extend treasury efficiency via cost effective automation and straight-through processing (STP).
Hunting is an established IT2 client, using the system to manage funding, FX hedging, interest rate exposures, cash management and investment and bank relationships.
Hunting’s recent treasury automation project determined that using SWIFT for the import of worldwide bank balance and transaction statements, and for the export of payments, was the best available solution for achieving efficient STP connectivity with Hunting’s banks. On the SWIFT side, both Barclays Commercial, their lead cash Management Bank and SMA Financial, their chosen SWIFT Bureau, are playing a big part in supporting the project.