As we approach our 20th anniversary as a leading financial technology software provider, we thought it would be a great opportunity to share some of the highlights of our journey with our clients, peers, and the industry in general. Through our content distribution channels, we will be sharing information on our strategy, key market trends, and our partnerships. We would like to kick this off with an introduction to what Axletree does and how we create value for our clients.
Who Are We?
Established in 2002 as the first SWIFT Service Bureau in North America serving both banks and corporates, Axletree Solutions has been providing innovative solutions across the entire financial transaction, processing and reporting supply chain for almost two decades.
Our marketplace has evolved over the years to provide cutting-edge solutions that allow both financial and non-financial institutions to:
- Connect with banks seamlessly
- Use any global financial network (SWIFT, RTP, Fed Now, etc.) to transact easily with counterparties
- Communicate clearly with banks and business counterparties
- Track and manage all their financial transactions accurately
- Comply with all financial reporting regulations
In addition to our global banking connectivity services, our marketplace now includes financial data integration and analysis services, payment processing and compliance solutions, financial communication tools, a treasury automation software, and intelligence services.
Axletree clients, therefore, have access to a comprehensive suite of software solutions that make managing financial transactions from start to finish easy, quick, and error-free.
Automate and streamline your financial transaction processing and reporting journey with Axletree!
Our Solutions
Our solutions have been designed to solve specific challenges that business organizations face while transacting with each other domestically and internationally. We help you tackle problems across 5 main verticals:
1. Financial Integration
The Problem: One of the biggest challenges our clients experience is low straight-through-processing (STP) rates. Their existing electronic resource planning (ERP) and financial management softwares are unable to process financial transactions in one go due to one or more of the following reasons:
- Errors in transaction data processing
- Non-compliance to transaction processing and communication standards
- Inability to process data-rich and complex transactions
- Incompatibility with counterparty ERP system
The Solution: The Axletree suite of products target these issues and function synchronously to provide our clients with an end-to-end integrated financial environment that boosts STP rates. Our integration capabilities include:
- Financial Systems Integration: AxleConnect and Symmetree work together to provide clients with the ability to establish secure communication between their internal system and their external business partners including, but not limited to, banking partners. As a result, our clients can easily transact with other parties globally and stay notified on the real-time progress of each transaction.
- Message Transformation: Symmetree provides clients with a transformation service which allows any financial messaging format to be translated automatically to any destination message format based on a customer’s specific business rules. As a result, clients are able to communicate with their partners regardless of whether the two parties communicate using the same financial messaging formats.
- Format Library: Axletree maintains a library of industry-approved formats. These include, but are not limited to:
- SWIFT MT (ISO 15022)
- ISO 20022
- SEPA
- BACS
- EBICS
- CSV
- PSV
- EDI
- Proprietary client-individual formats
- Data Enrichment: We provide clients with the ability to supplement missing transaction data required in the target messaging format which enables seamless straight-through processing.
- Message Validation: Symmetree validates that the structure and content of the financial messages conforms to the requirements of our client’s internal system and other parties’ external receiving systems.
2. Financial Connectivity
The Problem: With businesses and financial institutions using different systems and operating on different financial networks, it can be a hassle for clients to connect, transact, and communicate with their counterparties in a secure and reliable manner using multiple messaging formats as required.
The Solution: Through AxleConnect, we provide clients with the ability to connect safely and seamlessly with their business partners via our secure gateway. Axletree supports the following methods of communication:
- SWIFT: SWIFT is the market leader in financial message transmission and standards, and allows for the secure communication of financial messages across its global network. As a SWIFT Service Bureau, we have decades of experience helping organizations connect to the SWIFT network, as well as providing additional value-added SWIFT services.
- API: APIs have emerged as a critical means of B2B, B2C, and C2C communication. Many banking and non-banking institutions have adopted this method as a secure means of real-time financial message & data streaming.
- Host-to-Host: Where SWIFT and API services are not available or viable, Axletree supports a vast library of host-to-host connections allowing our clients to communicate with their banking partners based on their unique preferred file formats and security protocols.
As a network-neutral solution, AxleConnect can help you transact with all banks and financial institutions around the world.
3. Cash and Bank Account Management Solution
The Problem: Our clients conduct numerous financial transactions for varying purposes with multiple parties daily. This makes managing multiple bank accounts and tracking real-time cash flows and the financial position of the business a cumbersome task. If not done properly, it can lead to compliance risks and poor cash flows, etc.
The Solution: CBAM+, our single-window, cloud-based cash and bank account management software, helps our clients track and manage their numerous bank accounts and easily gain enhanced visibility into their financial operations. We provide the following features:
- Cash Management: Provides our clients with real-time global visibility into cash and liquidity position across a variety of demographics including geographical location, lines of business, banking relationships, currency denomination, and any business-centered classifications.
- Bank Fee Analysis: Allows our clients to optimize their bank fee structure by providing visibility into service charge breakdown across banking partners, service categories, fee trends, and the distribution of earnings credits.
- Bank Account Management: The built-in bank account management service allows our clients to easily optimize and maintain their global banking relationships and manage their signing authorities.
- Trade Finance: Provides our clients with the ability to create and maintain trade finance instruments, loans, deposits, facilities, and collateral management.
- Supply Chain Finance: Provides our clients with the ability to establish multi-tiered financing options and early payment incentives across the financial supply chain.
- Automated Foreign Bank Account Reporting: Allows our clients to automatically generate financial crimes regulatory reporting for both individual signers and entities based on their FBAR eligibility.
4. Global Payments and Compliance
In a world of frictionless payment processing and cyber risk mitigation, Axletree has embraced innovation in the payment landscape to deliver safe and secure global payment services to our clients
The Problem: In today’s digital age it can be tough to protect your financial transactions and payments from cyber-crime, comply with all financial regulations, and ensure speedy, frictionless processing, every time.
The Solution: We make sure our clients don’t have to worry about any of these three things. Axletree has embraced innovation in the payment landscape to deliver safe and secure global payment services to our clients using our bank connectivity solution, AxleConnect.
AxleConnect enables the following:
- Funds Transfer: Provides our clients with the ability to initiate and deliver domestic and cross-border payments safely and securely via the bank connectivity environment.
- Real Time Payments: Accessing the RTP network (via TCH) allows our clients to deliver and settle payments in real-time to enable instant cash and liquidity updates.
- FASTER Payments: As a founding member of the US Faster Payments Council and a participant in the FedNow pilot, we are actively participating in revolutionizing the US domestic payments landscape to enable faster and smarter payment processing.
- SWIFT GPI: Through SWIFT GPI, our clients can deliver and settle global cross-border payments whilst gaining end-to-end unaltered remittance detail, transparency into fees, visibility into FX rates, and universal payment confirmations.
- Regulatory Compliance: In a world where fraud is all too prevalent and where risk mitigation is an essential part of payment processing, our compliance suite provides a range of services to help increase your security. This includes, but is not limited to, payment monitoring, OFAC, AML, sanction screening, KYC management, and compliance advisory services.
5. Business Intelligence
The Problem: Businesses are sitting on mountains of financial data that can help them optimize their business operations, strengthen their financial positions, and help them serve their customers better. However, they lack the ability to collect, understand, analyze, and use this data to their advantage.
The Solution: Axletree clients have massive volumes of rich data flowing through the Axletree infrastructure. To help our clients make sense of this data, we have launched Insights, a business intelligence software that can leverage this data to provide our clients with a deeper set of financial analytics.
Our analytics services not only provide our clients with a view of their current business position, but also allow data to be leveraged to identify areas in which clients can improve their position, as well as identify potential growth opportunities.
Operating across all our business verticals, we have taken an agnostic view to gathering and harnessing the data to help you make quick and informed decisions. Some of the features available within our business intelligence environment include:
- Forecasting & Planning: Allows our clients to import data on payables and receivables to determine the forecasted impact on cash and liquidity over short-, medium- and long-term.
- Descriptive Analytics: Allows our customers to describe the current state of the business based on the data flowing through our infrastructure.
- Predictive Analytics: Helps clients leverage the historical data to highlight patterns and use statistical models and machine learning algorithms to capture correlations in the target data sets.
- Prescriptive Analytics: Allows clients to leverage both historical and current data to identify estimated financial outcomes.
- Elasticube – Provides the ability to connect to multiple data sources to retrieve data and create interactive dashboards and analytics.
Professional Services
In addition to our main solutions, we also provide a series of additional value-added services to help organizations stay in-the-know and remain compliant with the latest industry standards, trends, and requirements. Our certified team of experts provides clients with important industry updates and guidance related to financial connectivity, integration, and compliance.
In an age where rich data is shared across systems and is a driving force of customer value, Axletree has emerged as one of the companies at the forefront of digital transformation and disruption. Our long-term vision is to provide our clients with a secure, format- and network-agnostic platform to easily transform, send and receive financial messages globally, ensuring complete peace of mind.
For more information about how Axletree may assist in enhancing your business operations, please reach out to us at info@axletrees.com or by phone at +1-732-296-0001.
July 29, 2021
