Old National, Axletree Solutions Collaborate for New Level of Secure Transaction Messaging Leveraging Swift
Old National Bancorp (NASDAQ: ONB) has partnered with Axletree Solutions to enhance its secure transaction messaging capabilities through Swift. Axletree will host Old National Bank's Swift architecture, providing end-to-end control and transparency of banking transactions. As Old National's Swift Service Bureau, Axletree offers access to Swift without the internal burden of managing the technology infrastructure. The collaboration enables real-time tracking of international payments through Swift APIs in a secure environment. The partnership supports various Swift messaging capabilities, including wire transfers, ACH payments, and information reporting in multiple formats.
Old National Bancorp (NASDAQ: ONB) ha collaborato con Axletree Solutions per migliorare le proprie capacità di messaggistica delle transazioni sicure attraverso Swift. Axletree ospiterà l'architettura Swift di Old National Bank, offrendo controllo e trasparenza end-to-end delle transazioni bancarie. In qualità di Swift Service Bureau di Old National, Axletree fornisce accesso a Swift senza il carico interno di gestione dell'infrastruttura tecnologica. Questa collaborazione consente il tracciamento in tempo reale dei pagamenti internazionali attraverso le API Swift in un ambiente sicuro. La partnership supporta diverse capacità di messaggistica Swift, comprese le trasferimenti bancari, i pagamenti ACH e la rendicontazione delle informazioni in più formati.
Old National Bancorp (NASDAQ: ONB) se ha asociado con Axletree Solutions para mejorar sus capacidades de mensajería de transacciones seguras a través de Swift. Axletree alojará la arquitectura Swift de Old National Bank, proporcionando control y transparencia de extremo a extremo sobre las transacciones bancarias. Como el Swift Service Bureau de Old National, Axletree ofrece acceso a Swift sin la carga interna de gestionar la infraestructura tecnológica. La colaboración permite el seguimiento en tiempo real de los pagos internacionales a través de las APIs de Swift en un entorno seguro. La asociación apoya diversas capacidades de mensajería Swift, incluyendo transferencias bancarias, pagos ACH y la presentación de informes de información en múltiples formatos.
Old National Bancorp (NASDAQ: ONB)는 Axletree Solutions와 협력하여 Swift를 통한 안전한 거래 메시징 기능을 향상시키고 있습니다. Axletree는 Old National Bank의 Swift 아키텍처를 호스팅하여 은행 거래에 대한 엔드투엔드 제어 및 투명성을 제공합니다. Old National의 Swift 서비스 국으로서 Axletree는 기술 인프라를 관리하는 내부 부담 없이 Swift에 대한 액세스를 제공합니다. 이 협력은 안전한 환경에서 Swift API를 통해 국제 결제를 실시간으로 추적할 수 있게 합니다. 이 파트너십은 송금, ACH 결제 및 여러 형식의 정보 보고서를 포함한 다양한 Swift 메시징 기능을 지원합니다.
Old National Bancorp (NASDAQ: ONB) a établi un partenariat avec Axletree Solutions pour améliorer ses capacités de messagerie sécurisée des transactions via Swift. Axletree accueillera l'architecture Swift de Old National Bank, offrant un contrôle et une transparence de bout en bout des transactions bancaires. En tant que Swift Service Bureau de Old National, Axletree fournit un accès à Swift sans le fardeau interne de la gestion de l'infrastructure technologique. Cette collaboration permet le suivi en temps réel des paiements internationaux via les API Swift dans un environnement sécurisé. Le partenariat soutient diverses capacités de messagerie Swift, y compris les virements, les paiements ACH et le reporting d'informations dans plusieurs formats.
Old National Bancorp (NASDAQ: ONB) hat sich mit Axletree Solutions zusammengeschlossen, um seine sicheren Transaktionsnachrichtendienste über Swift zu verbessern. Axletree wird die Swift-Architektur der Old National Bank hosten und bietet End-to-End-Kontrolle und Transparenz von Banktransaktionen. Als Swift Service Bureau von Old National bietet Axletree Zugang zu Swift, ohne die interne Last der Verwaltung der technologischen Infrastruktur. Die Zusammenarbeit ermöglicht das Echtzeit-Tracking von internationalen Zahlungen über Swift-APIs in einer sicheren Umgebung. Die Partnerschaft unterstützt verschiedene Swift-Nachrichtendienste, einschließlich Überweisungen, ACH-Zahlungen und Informationsberichterstattung in mehreren Formaten.
- Partnership reduces internal technology infrastructure costs
- Enhanced security and transparency in banking transactions
- Real-time tracking capability for international payments
- Improved automation and operational efficiency
- None.
Insights
EVANSVILLE, Ind., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Old National Bancorp (“Old National”) and Axletree Solutions today announced an innovative collaboration whereby Axletree will host Old National Bank’s Swift architecture, providing a new level of highly-secure transaction messaging. This will ensure end-to-end control and complete transparency of banking transactions via Swift (Society for Worldwide Interbank Financial Telecommunication).
Axletree Solutions, a “Software as a Service” provider specializing in connectivity and integration, is Old National’s Swift Service Bureau, providing the bank with access to Swift without the internal burden and costs of managing the requisite Swift technology and infrastructure. Axletree also provides value-added services to Old National that include creating, enriching and transporting various Swift message types from legacy back-office systems with routing rules to achieve internal efficiencies and enhance revenue. Through Axletree, Old National also has access to track international payments in real time leveraging Swift APIs, for the benefit of its customers through an end-to-end secure environment.
“Our partnership with Axletree allows Old National to meet the technology needs of many of our financial institution and corporate customers,” said Joe Wicklander, President of Treasury Management, Merchant Services and Financial Institutions for Old National Bank. “Our clients continue to invest in automation to leverage their ERP systems, treasury workstations, and accounting platforms, and we thank Axletree for their commitment to providing innovative solutions that allow our clients to be even more successful.”
Swift provides a single secure channel rather than requiring multiple proprietary connections. Swift is a member-owned cooperative providing safe and secure financial transactions for funds and funds administrators, brokers and dealers, clearing firms and financial market infrastructures, payment processors, and asset and wealth managers.
Swift messaging supported by Old National will include Single Customer Credit Transfer, General Financial Institution Transfer, Bank to Bank Free Format Message, Confirmation of Debit, Confirmation of Credit, Customer Summary Statement Message, and Customer Detailed Statement Message. Swift connects multiple domestic and global institutions through a single, secure channel. Messaging capabilities include:
- Wire transfer payments and confirmations
- ACH payments and confirmations
- Prior-day and current-day information reporting in BAI2 format
- Integrated payable files in ISO 20022, CSV and EDI formats
“We are thrilled to partner with Old National Bank to improve its secure financial messaging experience via Swift,” said Jeff Ferguson, Director of Business Development for Axletree Solutions. “Through the use of our solution Symmetree by Axletree®, Axletree was able to help Old National Bank’s legacy systems create, translate and transport Swift-ready messages to facilitate its secure financial messaging needs. Axletree’s connection with Swift will also allow Old National customers to trace their cross-border Swift transactions in real-time. We thank Old National Bank for allowing us to show how Axletree provides its customers with ‘peace of mind.’”
ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately
ABOUT AXLETREE
Axletree Solutions, a premier financial technology provider since 2002, empowers businesses with seamless bank connectivity and enterprise integration. As North America's first SWIFT Service Bureau for Banks and Corporates, Axletree has evolved into a global leader in financial transaction and payments solutions. Processing over
ABOUT SWIFT
Swift is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. They provide communities with a platform for messaging and standards for communicating and offer products and services to facilitate access and integration, identification, analysis and regulatory compliance. Their messaging platform, products and services connect more than 11,500 banking and securities organizations, market infrastructures and corporate customers in more than 200 countries and territories. While Swift does not hold funds or manage accounts on behalf of customers, they enable a global community of users to communicate securely, exchanging standardized financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world. Headquartered in Belgium, Swift’s international governance and oversight reinforces the globally inclusive character of its cooperative structure. Swift’s global office network ensures an active presence in all the major financial centers.
Investor Relations:
Lynell Durchholz
(812) 464-1366
lynell.durchholz@oldnational.com
Media Relations:
Rick Vach
(904) 535-9489
rick.vach@oldnational.com
FAQ
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