Fundtech Signs 75th SWIFT for Corporates Client
Fundtech announced that US-based Walter Energy has become the company’s 75th SWIFT for Corporates client, representing a 50% increase in its corporate client list over the past year.
Walter Energy is a major metallurgical coal producer for the global steel industry with operations in US, Canada and UK. As part of its international expansion, the company added several multi-country banking relationships, resulting in the requirement for a seamless and simplified method of connecting to those banks in order to transfer funds and obtain balance information.
Fundtech said that Walter Energy’s SWIFT connection through its service bureau provides these benefits, helping to reduce operating costs and improve cash flow forecasting. By using SWIFT messaging standards the company will have a consolidated bank communications channel that integrates with its enterprise resource planning (ERP) and treasury management systems (TMS).