StoneX becomes member of the SWIFT platform partnership program
Institutional brokerage company StoneX Group (NASDAQ:SNEX) has announced that it is now a member of the SWIFT Platform Partnership Program, through its wholly-owned subsidiary StoneX Technology Services.
With access to the SWIFT API Platform, StoneX’s customers can directly connect to the full suite of Application Programming Interface (API) connectivity to the SWIFT network.
In providing this level of access to the SWIFT network, StoneX customers can access real-time data without the need for an intermediary. These APIs enable a new level of end-to-end transparency and real-time status for international payments data. With this new capability, StoneX Group and its clients have full visibility into the status of their cross-border payments throughout the transaction lifecycle. StoneX Global Payments will be the first to deploy this new functionality, using the pre-validation APIs to confirm all data is accurate before initiating a cross-border payment and the GPI API to track the payment from origin to destination.
Venkat Banavar V., Head of SWIFT Bureau Business for StoneX Technology Services, commented,
“This partnership with SWIFT will deliver StoneX’s clients with more transparency into, and control over, their financial transactions. These best-in-class APIs will greatly enhance the client experience, enabling them to access more of the products and services across StoneX.”
The SWIFT API Platform provides partners with APIs across a wide array of categories, including payments, GPI, reference data, business intelligence, notification services, pre-validation, transaction management, compliance, and trade finance.
Darren Holdstock, Head of Platform Partners at SWIFT added,
“This partnership is an important milestone in easing adoption, extending reach, and enabling StoneX customers to benefit from the range of innovative API-based services available on SWIFT. We’re delighted that the pilot has gone smoothly and we are now ready to scale globally for the wider SWIFT user community.”
Joining the SWIFT Platform Partnership Program furthers StoneX’s commitment to provide clients with the latest in digital platforms to enhance the payments experience.
StoneX Group Inc., through its subsidiaries, connects clients with the global markets across a broad array of asset classes – providing execution, post-trade settlement, clearing and custody services through one trusted partner. Clients use its global financial services network to pursue trading opportunities, make investments, manage market risk, and improve performance. A publicly traded company headquartered in New York City, StoneX Group Inc., and its 3,300 employees, serve more than 52,000 commercial, institutional, and global payments clients, and 370,000 active retail accounts, from more than 40 offices spread across five continents.