Financial messaging provider SWIFT has signed up its first cloud-based collateral management member in the shape of CloudMargin.

The deal gives CloudMargin clients a “cost-effective one-stop-shop” when it comes to automating collateral processing with banking partners, cash agents and custodians.

Specifically, the technology allows firms to consolidate multiple collateral pools and margin messaging. It also automates collateral deliveries and monitors settlements.

All of this in real-time and with a full audit trail to back it up.

CloudMargin, which focuses on the needs and challenges facing corporate treasurers, pension funds, banks and asset managers, is expected to begin offering the service clients immediately.

"‘Game changer’ is greatly overused in the capital markets technology world but that's exactly what we've developed,” said CloudMargin founder Andy Davies.

“Never before has this level of automation and end-to-end connectivity been seen in an off-the-shelf application that only requires a single, simple, low-touch integration.”