RBC Financial Group has gone live on Cable & Wireless Real Time Nostro (RTN) as a new platform for the provision of intra-day nostro account information to its financial sector clients. RBC is using C&W’s RTN to expand delivery of account information in real time to institutional clients in more than 120 countries.
RBC Financial Group provides nostro account information to the Cable & Wireless RTN hub over SWIFTNet FileAct. RBC clients subscribing to the service will have access to real time nostro account data from multiple providers across all currencies through a single interface. This data can be accessed through a browser interface, or can be pushed out directly into a bank’s cash management or reconciliation system via SWIFT using InterAct or FileAct depending on the bank’s requirements.
Ian Toone, vice president, Global Financial Institutions at RBC Financial Group, said, “I am delighted that we are now providing live data to the Cable & Wireless RTN service. We have been involved with the initiative since the concept was first introduced and our early adoption supports our mandate to place the client at the centre of everything we do. The service gives our clients a tool that can be used to improve liquidity management, mitigate risk and achieve operational efficiencies.”
Lzaro Campos, head of the banking industry division, SWIFT, said, “We are pleased RBC Financial Group is joining the ever-growing community of SWIFT users and partners that support the real-time Nostro industry solution. It is significant that RBC Financial Group is using SWIFTNet FileAct to provide Nostro data to the Cable & Wireless RTN hub whilst benefiting from their SWIFTNet infrastructure.”