Nomentia to offer clients Swift’s Business Connect service

By Gloria Methri

Nomentia, a treasury and cash management solutions provider, is one of the first vendors to provide Swift’s Business Connect service to its current and future clients. This service empowers Nomentia clients with Swift connectivity, supported by Nomentia’s comprehensive onboarding process.

Business Connect allows Nomentia to seamlessly integrate Swift connectivity with its 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.

“Through Business Connect, our customers can correspond with banks globally faster than ever,” said Tapani Oksala, Head of Partnerships 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.”

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, Nomenttia customers can benefit from embedded Swift connectivity seamlessly integrated into their operations. The company 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.