Raymond James to use SWIFT’s Cash Reporting solution

Raymond James, a Tampa-based broker-dealer, has registered for SWIFT’s Cash Reporting solution.

Published on 18 September 2008
Left to right: Left to right: Stacy Rosenthal, Senior Business Manager, SWIFT. Elisabth Eriksen, Assistant Vice President, Raymond James. Matteo Monaco, Senior Relationship Manager, SWIFT
The service will allow Raymond James to receive account balances and transaction detail information from its main banks in XML message format.

The broker-dealer is also taking advantage of SWIFT’s Business Assessment Programme, looking at cash reporting and outbound payments. The plan is to analyse the flow of messages sent from the back office applications of Raymond James to its correspondent banks in a bid to improve straight-through processing and reduce exceptions.

Raymond James is also working with cash management solutions provider Bottomline Technologies. “We are trying to become bank-agnostic, and are leveraging Bottomline and SWIFT to improve speed, efficiency, and client service,” says Elizabeth Eriksen, assistant vice president, Raymond James.