IntegriDATA, a FinTech software vendor, has launched Wire Chains, a revolutionary new feature that expedites dependent wire processing for its CashWire Payment System (CashWire). Wire Chains allows investment managers to quickly create a series of dependent wires that automatically execute in sequence as cash moves throughout the chain, helping them make complex payments with ease.
“Wire Chains brings advanced automation to CashWire, streamlining sequential payments into a single fluid action,” says Ted Haslam, Treasury Product Manager at IntegriDATA. “We’re excited to offer our clients a new way to process payments faster and easier than ever before.”
Alternative investment managers often move money through a series of intermediary accounts before reaching a final destination. Previously, each wire in the series would be set up, approved, and monitored for confirmation individually; the process being repeated with the next wire in the series once payment for the previous wire was confirmed. Wire Chains build on CashWire’s wire templating by allowing users to save a collection of wires as a single template. When called, the wire chain template creates a series of dependent wires and batches them for mass approval. Once approved, CashWire automatically executes the chain in sequence, triggering each wire in the chain after it confirms funding from the previous wire.
