Definition: The final authorization step that sends a validated payment instruction to the bank.
Example: A firm instructs a custodian bank to wire a payment to a seller’s account. Some portion of the payment is retained in an escrow account in case of later adjustments. The firm and the seller then both sign the escrow release, enabling the bank to distribute the funds.
Explore IVP Cash Management
The IVP Cash Management Solution supports all the steps in the wire payment process, including payment release. This buy-side platform centralizes and automates cash settlements, balance monitoring, and payment workflows across banks, funds, and counterparties. By replacing manual processes with configurable, straight-through automation, it gives firms real-time visibility, stronger controls, and greater confidence in every cash movement.
