– Deploying Fundtech as a payments gateway will provide UAE airline with reduced risk, increased efficiency
New York – Fundtech, a market leader in global transaction banking solutions, today announced that Etihad Airways has selected Fundtech to provide it with a payments gateway that will enable connectivity to the SWIFT financial messaging network. Key to Etihad will be the ability to reduce risk and increase the efficiency of sending and receiving payment/financial messages in order to continue to expand its business.
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,” says 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,” says 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 recognized regional brand as Etihad is significant.”