Bank of England now using full suite of Watch products

Published on 18 September 2008
Left to right: Ed Kelsey, Manager, Payments Systems & Communications, Bank of England. Beth Smits, Senior Product Manager, Business Intelligence, SWIFT. Steve Barton, Senior Manager Payment Services, Bank of England. Stephane Ernst de la Graete, Senior Market Manager, SWIFT
 
The Bank of England on Tuesday announced that it has started using the Watch Message Cost Analyser – the only product from SWIFT’s Watch suite that it was not already using. The bank is already a user of the Watch Traffic Analyser and Watch Billing Analyser.

The Watch suite of online tools enables firms to monitor their SWIFT traffic and costs.

“The Bank of England was taking advantage of a special offer that is eing run until the end of January 2009; I’m calling it our Sibos special!” jokes Beth Smits, senior product manager of SWIFT. On accepting the offer, Ed Kelsey, Manager, Payments Systems & Communications, Bank of England said that it would enable the firm to calculate and analyse its SWIFT messaging costs down to the BIC level automatically, where previously it would have had to calculate and reconcile the amounts manually. “It is hugely valuable,” he said.