SWIFT for Corporates is an enhanced communication channel allowing you to perform multiple banking tasks using standard industry formats over an established secure network.
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is a member-owned co-operative where the financial world conducts its business operations. SWIFT operates in over 200 countries and has more than 9,000 institutions on its network, including banking organisations and corporate customers.
SWIFT offers you:
- Enhanced visibility with the ability to receive intra-day and end-of-day reporting
- Improved straight through processing and centralised payment initiation
- Liquidity and pool cash management by sending payment orders
- Standardised messaging formats that allow you to quickly and easily communicate with multiple financial institutions
- Streamlined automated processes, reducing costs and improving productivity
- Improved SWIFT Global platform using a single channel rather than multiple connections.
Key capabilities of SWIFT:
- Scalable interface that includes delivery of SEPA payments and local Automated Clearing House (ACH) payments, as well as cross-border payments
- FIN: Payments, treasury confirmations and account reporting
- FileAct: ISO20022 and low value payments using standard local formats.