NEW YORK, Nov. 19, 2015 /PRNewswire/ -- Wayerz, an
integrated software platform that helps banks optimize
international wiring, inter-bank billing, reporting and
reconciliation solutions, today announced it has integrated several
of Cisco's solutions into its correspondent banking platform,
including instant messaging, real-time video conferencing, remote
access and screen sharing. Cisco's solutions will allow banks to
store and access their bank-to-bank conversations in one
streamlined, secure place while providing new avenues for ongoing
communication. Wayerz's platform, including Cisco's solutions, is
available to banks worldwide.
The announcement is made on the heels of Barclays' Fintech
Accelerator Demo Days in New York,
where Cisco provided Wayerz – and other participating companies –
several of its communication software tools for free. Wayerz is the
first company to integrate Cisco's solutions for bank-to-bank
communication.
With the integration, Wayerz's bank partners will now be able to
instant message, video chat and screen share with one another and
the Wayerz support team – all within Cisco's completely secure
cloud. They can also access and track and record all of their
conversations with other banks using Cisco's Ecosystem and
partners. Banks can then access past conversations, retrieve data
and review details at any time, allowing them to conduct and
organize their bank-to-bank communications easier and more
securely.
"Wayerz is enabling a whole new class of capabilities and
experiences for bank-to-bank communication with the help of Cisco's
solution," said Aron Dutta,
Co-Leader of the New Frontiers Team at Cisco. "Cisco is glad
to be a part of the future of banking communication, which is more
secure, fast and convenient than ever before."
"I am glad of the collaboration with this innovative Israeli
start-up, operating in one of the most fascinating areas of
bank-to-bank communication. The combination of Israeli innovation
with global experience, knowledge and advanced capabilities of
Cisco brings to the world of banking a solution enabling consistent
communications with a high level of security, while improving
business capabilities," said Oren
Sagi, GM of Cisco Israel.
Correspondent banking groups all relationships and financial
services that are offered, provided and executed by banks – to
other banks. That includes cash management, securities and
custodian, trade finance and forex. Top 25 correspondent banks
reports reveal that their total revenue from their correspondent
banking activities are $10Bn
annually.
In conjunction with its Cisco integration, Wayerz is partnering
with banks from around the world to integrate Wayerz's platform
into their existing correspondent banking departments. Barclays'
correspondent banking billing platform, developed by Wayerz for
Barclays' financial institution team, is one of them. Banks are
using Wayerz's solutions to record all their bank-to-bank
agreements and manage them efficiently; optimize the services
provided between banks – including cash management, custodian,
nostro account management and more; automate agent bank billing and
reconciliation and advance correspondent banking analytics and
managerial insights. This enables the bank to streamline many of
their correspondent banking activities, to reduce many of their
direct cost and overhead and increase their FI team's
productivity.
"We know the challenges banks face trying to seamlessly and
securely communicate with one another, whether domestically or
across the globe," said Menny
Shalom, Founder and CEO of Wayerz. "Our partnership with
Cisco will provide our partners a simple, more secure communication
platform that integrates effortlessly into their existing
operations."
About Wayerz
Wayerz [TLV, NYC, London] provides an integrated platform that
optimizes correspondent banking activities, including bank-to-bank
agreements and rate cards management, international wiring
optimization, simplifies bank billing processes and improves
bank-to-bank productivity, communication and transparency. By
tracking global wiring schedules and statistics in real time, the
technology enables banks and their corporate clients to choose the
optimum route for every wire. Its proprietary algorithm analyzes
all the invoices banks receive and converts them into clear,
unified and easy-to-read formats. Wayerz solutions are available
via traditional software licenses or via Software-as-a-Service
(SaaS) contracts. For more information, visit
http://www.wayerz.com.
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide
leader in IT that helps companies seize the opportunities of
tomorrow by proving that amazing things can happen when you connect
the previously unconnected. For ongoing news, please go to
http://thenetwork.cisco.com.
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SOURCE Wayerz