Old National Bancorp announced on October 28, 2024, an innovative collaboration with Axletree Solutions to host Old National Bank’s Swift architecture. This partnership aims to provide a new level of highly-secure transaction messaging, ensuring end-to-end control and complete transparency of banking transactions via Swift.
Axletree Solutions, a Software as a Service provider specializing in connectivity and integration, serves as Old National’s Swift Service Bureau. This arrangement provides the bank with access to Swift without the internal burden and costs associated with managing the requisite technology and infrastructure.
The collaboration also includes value-added services from Axletree, such as creating, enriching, and transporting various Swift message types from legacy back-office systems. This functionality, along with real-time international payment tracking via Swift APIs, is designed to achieve internal efficiencies and enhance revenue for Old National's clients.
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