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Oct. 13, 2022 - StoneX Group announced that it is now a member of the SWIFT Platform Partnership Program through its wholly-owned subsidiary, StoneX Technology Services LLC.
Membership in the SWIFT Platform Partnership Program allows StoneX's customers to connect directly to the full suite of Application Programming Interface (API) connectivity to the SWIFT network.
By providing this level of access to the SWIFT network, StoneX customers can access real-time data without the need for an intermediary. These APIs provide a new level of end-to-end transparency, including real-time status information for international payments.
With this new capability, StoneX Group and its customers now will have full visibility into the status of their cross-border payments throughout the transaction lifecycle. StoneX Global Payments will be the first StoneX business to deploy this new functionality, using the pre-validation APIs to confirm that all data is accurate before initiating a cross-border payment and the Global Payments Innovation (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 StoneX Global Payments products and services."
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 initial launch has gone smoothly and we are now ready to scale globally for the wider SWIFT user community."
