Etihad to get payment gateway from Fundtech
Fundtech to provide payment gateway to connect Etihad to the SWIFT network
Etihad Airways has announced that it has selected transaction banking specialist Fundtech to provide it with a payments gateway that will enable connectivity to the SWIFT financial messaging network, to reduce risk and improve efficiency in sending and receiving payments and financial messages.
Etihad Airways will use Fundtech to connect both its treasury and commercial payments functions to the SWIFT network. In doing so, Etihad will lower its financial transaction costs, enhance its straight-through processing, and improve its cash visibility. It will also benefit from Fundtech's secure, highly reliable connection without having to develop and maintain its own in-house SWIFT infrastructure.
"Working with Fundtech, Etihad Airways will have greater visibility into cash on hand," said Adam Boukadida, Etihad's deputy treasurer. "This will provide powerful insight that will enable the optimization of working capital, while direct SWIFT connectivity will increase efficiency for the airline."
"I am delighted to add Etihad Airways to our list of clients," said Peter Reynolds, managing director, Europe, Middle East and Africa at Fundtech. "As a major and growing airline, they are joining over 270 corporations and financial institutions in more than 32 countries trusting their SWIFT access to Fundtech. The Middle East is a key region we are investing in throughout 2015 and beyond and having such a recognised regional brand as Etihad is significant."