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Gresham Computing welcomes the Cable & Wireless agreement with Fundtech which enables SwiftNet access for Real Time Nostro

Gresham Computing plc welcomes the agreement between Cable & Wireless and Fundtech Inc announced 18th May to provide a SwiftNet gateway for the Cable & Wireless Real Time Nostro service.

Commenting on the agreement, Andrew Walton-Green, Chief Executive of Gresham Computing plc said, "This agreement is an important step forward. It enables SWIFT member banks to connect to the Real Time Nostro service and to capitalise on their recent investment in SwiftNet. The net result will be to simplify and speed up the integration of SWIFT messages containing nostro account information into the Cable & Wireless Real Time Nostro hub. SwiftNet is the industry standard, highly secure, IP based messaging service currently being implemented across the banking payments industry globally."

Claudia Cassinari, Senior Business Manager, Banking Markets and Business Solutions, Swift commented that "This agreement brings additional value to banks wishing to re-use their SwiftNet infrastructure. The ability to deliver information to the Cable & Wireless hub via the Swift network provides banks with greater flexibility and will extend the reach of the service. Real Time Nostro is a key industry initiative and this agreement facilitates the quicker adoption of this move to real time operations within the banking community."