Abstract
This Financial Insights report provides an overview of SWIFT for
Corporates and the implications for corporates and their banking partners.
The financial crisis has dramatically increased the pressure on corporate
treasurers to find new sources of capital and increase the
performance of their current cash management providers. SWIFT, the international
financial messaging organization, has for several years been developing ways
for corporates to connect directly to its network, freeing them
from proprietary bank connection standards and allowing them to cost-effectively
manage multiple banking relationships.
According to Aaron McPherson, practice director
at Financial Insights and a coauthor of the report, "2009
will be an inflection point for direct corporate access to
SWIFT as corporates are forced to move away from their
traditional banking relationships and seek new providers. This creates new
opportunities for technology vendors, SWIFT service bureaus, and those banks
that have invested in products to take advantage of direct
SWIFT connectivity."
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