Walter Energy becomes Fundtech's 75th SWIFT for corporates client
The global transaction banking solutions company Fundtech announced today that Walter Energy, Inc. – a metallurgical coal producer for the global steel industry with operations in the United States, Canada and United Kingdom – has become the company's 75th SWIFT for Corporates client.
As part of its strategy for international expansion, Walter Energy has recently established several multi-country banking relationships. As a result, the company requires a seamless and simplified method of connecting to these banks in order to transfer funds and obtain balance information.
Walter Energy's SWIFT connection through Fundtech’s Service Bureau provides these benefits, helping to reduce operating costs and improve cash flow forecasting. By using SWIFT messaging standards Walter Energy will have a consolidated bank communications channel that integrates with its ERP and treasury management systems.