Wire Chains for IntegriDATA CashWire automates complex wire dependencies for hedge funds and private equity
IntegriDATA, a FinTech software vendor, today introduced Wire Chains, a revolutionary new feature that expedites dependent wire processing for its CashWire Payment System (“CashWire”). Wire Chains allows investment managers to quickly create a series of dependent wires that automatically execute in sequence as cash moves throughout the chain, helping them make complex payments with ease.
“Wire Chains brings advanced automation to CashWire, streamlining sequential payments into a single fluid action,” said Ted Haslam, Treasury Product Manager at IntegriDATA. “We’re excited to offer our clients a new way to process payments faster and easier than ever before.”
Alternative investment managers often move money through a series of intermediary accounts before reaching a final destination. Previously, each wire in the series would be set up, approved, and monitored for confirmation individually; the process being repeated with the next wire in the series once payment for the previous wire was confirmed. Wire Chains build on CashWire’s wire templating by allowing users to save a collection of wires as a single template. When called, the wire chain template creates a series of dependent wires and batches them for mass approval. Once approved, CashWire automatically executes the chain in sequence, triggering each wire in the chain after it confirms funding from the previous wire.
Common Wire Chain Use Cases
- Private credit / private debt processing
- SPV (Special Purpose Vehicle) processing
- Recurring monthly payments
- Nominee payments
- Investor and general partner distributions
Wire Chain Features
- Wire Chain Templates – Create a series of sequential wires from a single template and approve the series as a whole
- Automated Execution – Dependent wires execute automatically as funding moves throughout the chain
- Simple or Complex Paths – Wire chains can be a single path or many branching paths
- Allocations – Funds can be allocated to accounts throughout a wire chain path using fixed or dynamic allocation percentages
- Visualization – Wire chain templates are represented visually in an interactive diagram
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