French banks connect to corporates via SWIFTNetStudy highlights SWIFT’s ability to serve small- and mid-sized corporatesPublished on 17 September 2008 | Left to right: Jean-Yves Garnier, National Member Group Chairperson, Natixis. Narinda Viguier, Crédit Agricole SA. André Casterman, SWIFT. Marc Rainteau, Crédit Mutuel CIC. Javier Pérez-Tasso, Head of South EMEA, SWIFT. Marinte Brachet, User Group Chairperson, Société Générale. Fabrice Denèle, Caisse Nationale des Caisses d’Epargne | |
Following a 10-month study conducted by the SWIFT French National member Group (GUF), French banks have chosen SWIFTNet as one of the options to migrate from the French X.25 Echanges Télématiques Banque-Clients (ETEBAC) protocol, used for the transfer of electronic data between banks and their clients. The decision will impact thousands of corporates in France.
A pilot phase is scheduled for Q2 2009 while the migration itself is due to start in Q4 2009.
“Further to the announcement of Alliance Lite at Sibos last year, we have received a clear signal from SWIFT regarding their ability to reach out to medium-sized institutions through its various connectivity solutions,” said Jean-Yves Garnier, Chairman of the French National member Group and Martine Brachet, Chairman of the French National User Group, in a joint statement. “Our study has confirmed SWIFT’s ability to address the needs of domestic as well as multi-country medium-sized corporates in addition to large international corporates.”
SWIFT believes the banks’ decision to offer SWIFTNet as an option for migration from X.25 is a vote of confidence in the product. “by adopting SWIFTNet on such a large scale, French banks are demonstrating their confidence in their banking cooperative to address critical business challenges at both international and domestic level,” says André Casterman, Head of France, SWIFT.
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