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E-invoicing, SCF & E-procurement

Garanti Bank, Allevo to join forces

Friday 12 May 2017 | 01:45 PM CET

Garanti Bank Romania has selected FinTP, Allevo’s open source solution to connect to SWIFTNet.

The partnership will ensure compliance to SEPA standards and regulations, in order to optimize its operations.

FinTP achieves technical integration between various business applications, connecting back-office systems of banks to external market infrastructures. FinTP comes with an embedded routing mechanism that redirects messages based on rules and content. It achieves message processing by initially mapping any proprietary or SWIFT FIN or XML messages to the native ISO 20022 message type, followed by applied the agreed business rules for sending or receiving. FinTP provides reconciliation and capabilities for payment search and reports. The underlying technology offers persistent end-to-end transactions and multi-threading capabilities, not to mention a reliable security component, including management of groups and users, profile, functions.

FinTP is distributed under the free GPL v3 open source license. This distribution model is different from what vendors in this industry practice, its main advantage being that it removes any dependence on the vendor.
Garanti Bank is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN operates).

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