NEW YORK, May 20, 2020 /PRNewswire-PRWeb/ -- IntegriDATA, a FinTech software vendor, today announced seamless integration between its CashWire Payment System ("CashWire") and Workday® Financial Management. Now available, the new API integration enables investment managers to automatically generate wires from Workday transactions, helping them improve payment efficiency, transparency, and security.
"Workday has become increasingly popular with our larger clients and we're excited to offer them secure straight-through payment processing," said Ted Haslam, Treasury Product Manager at IntegriDATA. "With the CashWire-Workday integration, Workday users can now instantly create wires and monitor payment status in real-time as wires move through the CashWire approval workflow."
The CashWire-Workday integration uses both CashWire and Workday APIs in an advanced two-way interface. When Workday invoices enter the payment step of their workflow, a corresponding wire is created in CashWire complete with vendor payment details and invoice attachments. Workday invoice status is updated as wires move through the CashWire workflow and are automatically closed when CashWire executes payment.
Payment processing is an essential back-office function that becomes increasingly challenging as the number of banking and vendor relationships grow. Multiple banking relationships mean multiple bank portals and protocols, leading to fragmented workflows that are cumbersome to manage and are vulnerable to error or fraud. IntegriDATA developed CashWire in 2012 to help hedge funds and other investment managers improve payment efficiency and security. As a universal payment portal, CashWire consolidates and protects payment workflows, allowing investment managers to swiftly process wires with less effort and risk.
Other CashWire features
- Support for leading delivery methods including SWIFT, SFTP, API, secure PDF, and more
- Advanced security controls, including custom approval workflows and two-factor authentication
- Standing instruction, wire template, and account management
- Real-time intraday cash balances
- Security transfer functionality and support
IntegriDATA is a financial technology software company dedicated to helping the investment management industry improve operational efficiency and reduce risk. Founded in 2002 by financial industry experts, IntegriDATA specializes in expense allocation, payment automation, and collateral management solutions. IntegriDATA clients include hedge funds, private equity firms, fund administrators, institutional investors, and mutual funds. IntegriDATA software helps the investment management industry service over $1.1 trillion AUM as of May 2020.
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SOURCE IntegriDATA Business & Technology Solutions, LLC