London, 11 April, 2011 – SWIFT, the financial messaging provider for more than 9,500 financial institutions and corporations in 209 countries, announced today that it has joined the Payments Council in the United Kingdom as an Associate Member.
Membership formalises SWIFT’s interaction with the Payments Council, the organisation that sets the strategy for payments in the UK. Through its membership, SWIFT will work with the Payments Council to help ensure that the UK’s payment systems and services meet the needs of service providers, users and the wider economy.
“As a co-operative dedicated to serving our members, it is essential that SWIFT plays an active role in key industry bodies engaged in the topics and issues that affect us and our users,” said Arun Aggarwal, Managing Director UK, Ireland and Nordics, at SWIFT. “International payment systems are in SWIFT’s DNA, and through joining the UK’s Payments Council we can help shape the future of a vital component of the global and domestic payment communities.”
“Gary Hocking, Acting Chief Executive at the Payments Council, said: “The Payments Council is delighted to welcome SWIFT as an Associate Member, and we look forward to exploring opportunities for our organisations to work together. Membership gives SWIFT access to the biggest operators in the UK payments industry, as well as a wealth of industry knowledge, know-how and research.”
SWIFT will be invited to take part in the Payments Council’s Vendor Forum, as well as participate in groups addressing topics such as account transfers and digital signatures, and to provide specialists to contribute to the evolution of new industry solutions.
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,000 banking organisations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
About The Payments Council
The Payments Council is the organisation that sets strategy for UK payments. It has been established to ensure that UK payment systems and services meet the need of users, payment service providers and the wider economy. The Payments Council is funded by its 30 members and has an independent chairman. The Payments Council also has 19 associate members.
For more information, please refer to our website www.swift.com or contact:
Fishburn Hedges
Paul Farrow/Alastair Fairbrother
Tel: +44 20 7839 4321
swift@fishburn-hedges.co.uk