Gresham Computing PLC has announced the addition of five banks in the United States, Europe, and Africa to its Clareti Cash Reporting Service to manage their balances with global correspondents.
The addition of the five — ABN Amro Holding NV in Amsterdam, Amalgamated Banks of South Africa, Bank of New York Co., the Swedish Svenska Handelsbanken AB, and a "major German bank" that Gresham would not name — brings to 14 the total of subscriber banks, the technology company said on Tuesday.
Gresham, a British software developer specializing in real-time financial information, said it has eight additional banks "planning to provide data" to its payments hub, but a spokeswoman said she could not name them or say when they are to begin feeding the database.
Clareti Cash Reporting is part of a suite of services introduced in May 2003 by Gresham and the British telecommunications company Cable and Wireless PLC. It lets banks view, in real time, international payment transactions in deposit accounts held at a foreign or correspondent bank via the Swiftnet interbank messaging network or over a secure authenticated Internet connection. The service lets them manage liquidity more closely across the many accounts they may hold with other banks around the world and reduce credit and settlement risk.
