TreasuryOne uses Trustlink SWIFT BIC and hosted environment

Issued by Tegra Solutions
Pretoria, 28 Mar 2013

TreasuryOne, an outsourcing company delivering treasury management services to medium-sized and large corporates in South Africa, has partnered with leading African SWIFT service bureau Trustlink to deliver an automated confirmation matching service to customers. TreasuryOne's IT2 treasury management system will now be making use of Trustlink's Single Bank Identifier Code (BIC) solution, which provides a simple, cost-effective connection for TreasuryOne into the global SWIFT network.

TreasuryOne's IT2 solution provides corporates with a consolidated view of all treasury-related functions and market risks, including foreign exchange, liquidity planning, forecasting, investment management, integrated cash flow, commodity prices, interest rates and more. All transactional services within this system require a bank on either side to originate and fulfil transactions, as well as a means of communicating these transactions between parties. Previously, TreasuryOne was using a manual system, where its bankers would capture transactions and fax or e-mail these to the broker on the bank side. The deal would then have to be confirmed and sent back again via fax or e-mail. Trustlink's SWIFT BIC service automates this process for improved efficiency and risk management.

"This manual process is prone to human error, which poses a financial risk. By accessing the SWIFT network directly with our BIC, TreasuryOne is now able to use straight-through processing (STP) to electronically generate these transactional messages from IT2, send them to the bank brokers, and receive confirmation back through the same system. This confirmation is then automatically matched to their own system, which helps to mitigate risk and ensures that the thousands of transactions processed by TreasuryOne on a monthly basis are completed accurately and timeously," says Sean Ascott-Evans, Product Manager at Trustlink.

The Trustlink BIC solution not only enables TreasuryOne to drive down the risk associated with manual processing, but also enables the company to offer its customers direct access to SWIFT in a reliable, cost-effective manner. This opens up new services to customers, as well as facilitates better service delivery, and acts as a competitive differentiator for TreasuryOne.

"The decision to work with Trustlink to deliver this solution was a simple one, as they have a unique offering in Africa with their SWIFT BIC. This, along with our long-standing relationship with Trustlink, their excellent reputation and track record and our complementary solutions offering, delivered a winning combination," says Hennie de Klerk, CEO of Treasury One.

"Linking into the Trustlink BIC has enabled us to take our treasury management solution to the next level, offering a complete, world-class service to our customers. We are able to offer technology that very few treasury houses in South Africa provide, and through this merger of technologies, we are able to offer our customers additional services. The solution enables us to manage processes electronically and connect to all banks globally through a single standard on a single network. It can also be expanded to add payments, bank statements and more for greater value and enhanced functionality," he adds.

TreasuryOne's IT2 solution went live on the Trustlink SWIFT BIC in September 2012. TreasuryOne is currently providing automated confirmation matching services to a number of high-profile customers, including Business Connexion, Dawn, Impala Platinum, Aquarius Platinum and the Super Group Trading (Mauritius).

TreasuryOne

TreasuryOne was established in May 2000. The company's mission is to provide a broad range of best practice treasury services to organisations of all sizes and levels of complexity, and also to private individuals.

TreasuryOne delivers professional treasury services to clients as and when needed. All TreasuryOne offerings are fully scalable, so the client enjoys the benefit of expert, cost-effective advice and execution, without paying for unnecessary staff and system overheads in the specialist field of treasury. Its clients enjoy all the benefits of working with a highly qualified and experienced partner.

Its product offerings include outsourced treasury operations, exchange rate risk management, treasury management system, investment management, and consulting and training. Clients experience the value of enhanced treasury performance and reduced risk in today's demanding financial environment.

Trustlink

Trustlink has its roots in the Perago group of companies. It was established as an autonomous company in 2006, following the international expansion of the Perago group.

From these roots, Trustlink has shown consistent growth and has established itself as a leading player in providing B2B services. Trustlink provides innovative solutions and services that enable its customers to enhance information exchange and business process integration beyond the borders of the enterprise. Trustlink is the exclusive representative in sub-Saharan Africa for select suppliers that are all recognised global leaders in their respective fields. Using the products of its partners as well as its own in-house solutions, Trustlink develops and tailors integrated STP, B2B and EAI solutions. Its solutions serve to preserve systems integrity, improve cost efficiency, increase operational reliability and apply stringent security.

Trustlink was recently appointed as the SWIFT Business Partner for West, central and southern Africa. The appointment as Business Partner extends the portfolio of SWIFT products and services that Trustlink can offer to customers and also extends its reach into West Africa.

Trustlink also operates the leading SWIFT service bureau in Africa, having more than 75 customers in 16 countries. It has an enviable reputation for service delivery and reliability, having previously reached 288 days of uninterrupted service availability (ie 100% uptime).

Trustlink is a dynamic company with an established customer base that spans 28 countries in sub-Saharan Africa. Its customers include major financial institutions, central banks and prestigious corporate enterprises.

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