HELSINKI, Aug. 15, 2024 /PRNewswire/ -- Nomentia, a European leader in treasury and cash management solutions, is becoming one of the first vendors to provide Swift's Business Connect service to its current and future clients. This service empowers Nomentia clients with seamless Swift connectivity, supported by Nomentia's dedicated and comprehensive onboarding process.

Business Connect allows Nomentia to seamlessly integrate Swift connectivity with our applications and cloud services, enabling secure transactions with the global financial community using Swift's Alliance Cloud interface. This embedded experience provides access to over 11,000 financial institutions globally, ensuring a rapid onboarding process and minimal maintenance. Additionally, Business Connect simplifies bank connectivity by offering access to Swift's extensive range of messaging solutions and innovative services available through Swift's API channel.

Nomentia offers an extensive portfolio of solutions for payments, cash management, treasury management, and risk management tailored for treasury and finance teams. A key offering, Nomentia Bank Connectivity as a Service, enables clients to connect with banks globally through direct and local connections (such as EBICS) and Swift Alliance Lite2 for Business. With Swift transitioning from Swift Alliance Lite2 for Business Applications to Business Connect on Alliance Cloud, Nomentia will be among the first treasury management system (TMS) vendors to provide this innovative solution.

By adopting Alliance Cloud through Business Connect, Nomentia customers can benefit from embedded Swift connectivity seamlessly integrated into their operations. Nomentia will oversee the entire implementation process, ensuring a smooth transition to Alliance Cloud, which offers enhanced capabilities, improved straight-through processing, global reach, and minimal maintenance requirements. By choosing Alliance Cloud through Business Connect, Nomentia clients will receive comprehensive services, including relationship management application (RMA) and Security Officer duties, eliminating the need for clients' employees to undergo Swift training or use the Alliance Cloud GUI. Additionally, Nomentia, through Swift, will simplify compliance by facilitating the mandatory Know Your Customer Security Attestation (KYC-SA) and annual independent assessments.

"Through Business Connect, our customers can correspond with banks globally faster than ever," says Tapani Oksala, Head of Partnership at Nomentia. "As financial operations grow increasingly complex, our goal is to provide turnkey bank connectivity solutions, allowing our clients to focus on their core business activities. By adopting Alliance Cloud through the new Business Connect service from Swift, accessing bank connectivity becomes seamless and fully managed by Nomentia."

FOR MORE INFORMATION, PLEASE CONTACT:

Tapani Oksala
Head of Partnerships, Nomentia
tapani.oksala@nomentia.com

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